Like any tax, this is affected by the law of diminishing returns. Pretty soon there will be a “tax shortfall” and something else will have to be taxed to make up for it.
“Like any tax, this is affected by the law of diminishing returns. Pretty soon there will be a “tax shortfall” and something else will have to be taxed to make up for it.”
If 40 million packs are sold per day US, with obama’s added tax of 1.00, x365, this is an increased revenue of 14.6 billion annual?
If my estimates and calculations are close to correct, then obama’s increase on a pack of smokes ‘ain’t gonna git er done.’ Since HSI estimates are nearly 500 billion increased expenditures annualy for his child health plan.
Perhaps someone with a better calculater than mine can verify the numbers? But at quick glance, they ‘ain’t jivin.’ So he’s gonna need more revenue for his plan...about 450 billion more annual?