Berkeley’s Measure D Passes Making It First City in U.S. To Tax Soda; San Francisco’s Similar Proposition E Failed
Soda drinkers in Berkeley will soon have to pay an extra cent per ounce to consume their sugary drinks as a majority of voters supported Measure D. It will become the nation’s first tax on soda. Meanwhile, a similar soda-tax measure, Proposition E in San Francisco, failed to pass.
Shares of Facebook plunged to all-time lows after early investors and insiders were allowed to sell their shares Thursday, dimming California’s hope for a capital gains windfall that would help balance the state budget.
An interview with UC Berkeley Professor of Economics and Law Alan Auerbach on the fluctuating state of the economy and what needs to be done to improve it.
Immunizing the California budget against revenue fluctuations means moving away from the state’s heavy reliance on income taxes, according to a prominent UC Berkeley economist.