cigarette tax

If you needed any more proof that our state, local and federal budget spending is out of control, here it is. In an effort to get out from under record deficits and support their spending habits, politicians from Seattle to New York and everywhere in between have cooked up some outrageous...

A new nationwide poll finds that two-thirds of U.S. voters support a $1 increase in tobacco taxes per pack. The tax could raise more than $9.1 billion in new annual revenue for states, says the report released by a coalition of public health organizations claims.

Today the largest increase in the federal tobacco tax of all time is going into effect -- what used to be 39 cents per pack will now be $1.01 per pack. It won't exactly pay the tab of the stimulus package, but it's probably the most palatable to the average Joe. Typically the easiest...

A few weeks ago, I wrote a post in which I mentioned New York's plans to raise taxes on cigarettes. Well, the bill passed, and cigarettes are now $9 a pack in New York City. While this is sure to increase tax revenue in the short run, it's not hard to see how it will backfire. The first negative...