“issued the bonds to receive billions of dollars upfront “
Greedy idiots.
Paying a premium to get the money upfront (and spent right away) instead of waiting for the payments.
As soon as they ratcheted up the taxes to the point of ridiculousness, then prohibited use of the products almost anywhere, I went elsewhere.
First I went to the internet vendors. When they shut that down, I went to the Indian Reservations, when they "equalized" that, I went to the roll-your-own methods, when they "equalized" that, I went to the grey market, when that got shut off, I went to either Al Quaeda or the Mexican drug cartels, I don't really care which it is.
I guess I'm okay now because nobody has the political courage to shut either of those sources off.
You can now buy a carton of any brand of cigarettes anywhere in this country for 1/3 the price charged by any legitimate retailer.
Smugglers and the black market are alive, well, and thriving. Kind of like what is going on with whole milk and other consumables.