Philly Mayor Jim Kenney is still an Economic Moron - Granite Grok

Philly Mayor Jim Kenney is still an Economic Moron

Jim-KenneyMost people, upon they are digging a hole, try to stop said activity.  Grokster Steve brought this to our attention (here and here) that Kenney decided that laying in a whopper of a tax on “sugary drinks”.  What he didn’t foresee was that when politicians decide to poke an economic system, it pokes back and Steve’s second post outlined some job losses (and Kenney sounds like he’s the second coming of Venezuela’s Madura in blaming everyone but himself).  Well, throw a couple of more cans of gas on the flaming mess he’s created: Pepsi is laying off up to 100 workers in Philadelphia and blaming a 2-month-old soda tax.

The layoffs, which account for roughly 20% of Pepsi’s 423 Philadelphia employees, will begin Wednesday and be spread out over the next few months, the Philadelphia Inquirer reported.

“Unfortunately, after careful consideration of the economic realities created by the recently enacted beverage tax, we have been forced to give notice that we intend to eliminate 80-100 positions, including frontline and supervisory roles, in Philadelphia over the next few months, beginning today,” Pepsi said in a statement to Business Insider.

Tax it and you’ll get less of it.  And less of the people that supplied the product so taxed.  And denying your city of those revenues as either people stopped buying soda or went to Philly’s competitors – those towns surrounding that are now delighted that Philly is sending them customers.

(H/T: Instapundit)

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