In cities and states across the nation, lawmakers are using excise taxes on popular consumer products to raise funds to pay for their pet spending projects.
Tagged: sin taxes
California lawmakers are proposing to increase taxes on cigarettes by $2 per pack in order to fund increased entitlement spending. Instead of placing faith in the morality of their cause, lawmakers would do better to place their trust in economic and public health realities.
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Despite veritable mountains of academic evidence proving excise taxes on politically unpopular goods are unreliable revenue sources drawn from those who can least afford to have more money taken from them, city and state governments constantly flirt with such ideas. Like water rushing through a valley, such elected officials seek the path of least resistance in deciding what to tax.
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