Basel III and the sugar tax

Have a read at this post my Twitter chum Don van Deventer co-wrote on his alma mater’s blog site called Basel III and the Problems with Risk Management by Excel. Despite Don writing an excellent piece that includes a Basel Accords history lesson I could not help dwelling on the first line. He asked in this September 15, 2010 post, “Why are their capital rules on banks but not on fast food restaurants?”

Jump forward two months and a bipartisan panel suggests “an excise tax on manufacture and importation of beverages sweetened with sugar or high-fructose corn syrup” which would “help reduce long-term health care spending to treat obesity-related illnesses – including diabetes, heart disease, cancer, and stroke.” (Yes, while capital and taxes are not quite the same, I found the similarities still worth pointing out.)

So while we often say that some people are years ahead of their time, I should point out that Don is two months ahead of his time, which is still pretty impressive.

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