The tax on cigarettes are being raised today. To the point of almost being taxed out of existence. Anymore, the term, ‘Grow your own’ will take on an entire new meaning now that tobacco might be cheaper to harvest and cure it yourself than having to buy a normal pack of smokes.
One of President Barack Obama’s campaign pledges on taxes went up in puffs of smoke Wednesday.
The largest increase in tobacco taxes took effect despite Obama’s promise not to raise taxes of any kind on families earning under $250,000 or individuals under $200,000.
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The extra money will be used to finance a major expansion of health insurance for children. That represents a step toward achieving another promise, to make sure all kids are covered.
If everyone quit smoking, then what will be taxed to cover the hole the cigarette tax left behind?