black market

John Nothdurft and Donny Kendal present episode #72 of the In The Tank Podcast. Today’s podcast features work from the Tax Foundation and the Heartland Institute.

Some states, including California and Illinois, are now considering proposals that would increase the legal age limit required to consume tobacco and tobacco-like products, including electronic cigarettes, from 18 years old to 21. Hawaii was the first state to enact such laws, which became effective January 1, 2016.

In today’s edition of The Heartland Daily Podcast, Jesse Hathaway, managing editor of Budget & Tax News speaks with Andrew Heaton. Heaton is a stand-up comedian based out of New York city and star of the popular Youtube series “EconPop.” Heaton joins Hathaway to explain what the classic film “The Shawshank Redemption” can teach us about the creation of markets, voluntary exchange, and why you can’t make change for a cow or a goat.

With help from the Tax Foundation, LaFaive examined how states’ taxes drove consumers in all 50 states to purchase cigarettes on the black market.