Nowadays, there are myriad individuals suffering from obesity. In terms of this, it is thought by some that officials should implement a tariff on junk food; this is because the count of health-related diseases while taking this type of food is increasing significantly. I strongly agree that companies should pay a high amount of tax. Firstly, this essay will discuss the fact that companies that sell alcoholic goods and tobacco should pay higher taxes. Secondly, discuss how higher taxes would increase price and mitigate usage.
Higher fines on alcohol and tobacco have proven to be leading to control the harm posed by these substances. This income has been used to treat health issues relevant to these products and has proven useful in promoting campaigns alerting people about the risk of alcohol and tobacco abuse. Tax from fast food would be utilized in the same way. For example, 33% of people died by consuming alcohol goods; a prime example is the UK that allocates revenue to treat lung cancer and heart disease.
Increasing taxes would raise prices and lower consumption, and this would lead to people not being able to afford fast food because of its high cost. Junk food could be consumed only one time or another, which minimizes risk to the public’s health. For instance, a survey organized by the Health Insurance Organization in 2017 showed that a specific type of food increased prohibitively, and people avoided buying it regularly.
In conclusion, junk food should be taxed at a higher rate, and the fact that the increased price would reduce consumption.
