France mulling 160 percent beer tax increase11/28/2012
France has a well-deserved reputation as wine country. Beer? They drink beer in France? Apparently yes, as the French beer industry nets $2.6 billion in annual sales. Which is why French beer lovers are hopping mad about a new proposal that could increase the tax on beer by 160 percent (which would raise prices about 25 to 40 cents per bottle). The increase is one of many proposals to slash the government’s budget deficit, and the increase is expected to generate $625 million. The beer industry is particularly aggrieved that no other alcohol producers — especially those winemaking toffs — are being hit with new taxes. [Source]
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Is this tax increase fair?