What are Sin Taxes?
Sin taxes are taxes on products that are considered undesirable or harmful. Some examples of items with a sin tax are alcohol, tobacco, sugar, candy, etc.
What Else Could be Considered for a Sin Tax?
Red meat. Right now, it is a trendy topic in Europe. For example, in a recent survey, the majority of Germans backed a proposal to raise sales tax on meat products to fund better livestock conditions.
On the other hand, some sources, like Fitch Solutions, find it unlikely that a tax on red meat would even be considered in the United States.
Why Tax Red Meat?
Meat is targeted for a sin tax because, as stated by the United Nations, “agriculture, forestry, and other land use contributes [to] about a quarter of greenhouse emissions.”
What Businesses Would be Affected by a Sin Tax on Red Meat?
The most obvious would be the meat industry and restaurants.
Additionally, learn more about the sin tax from Olivia Konotey-Ahulu.
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