What would the finacial ramnifications be for the goverment if everyone were to stop smoking? How much income is generated by the tax at the point of sale?
What is the estimated money “saved” in Social Security from the lower life expectancy of smoker?
I curious as to how much of an effect smoking related tax revenue has on our goverments (federal and state)
Thanks in advance,
Osip
I won’t attempt to get into the tax-loss v. subsidy monetary issues [someone better will], but one issue is there are only so many crops, and markets for them, that can be used as an alternating crop [or sometimes an intercrop] to maximize crop values on otherwise unused acreage. Another factor to consider, not insurmountable though.
In a similaf vein: In all the times that a state has taken a tobacco company to court for health expenses, why hasn’t the tobacco company defended with, “the medical expenses you incurred are exceeded by the tax you collected”
good morning and happy thanksgiving, friends.
re: tobacco taxes
in a slight hijack, nebraska (the tax me state) placed a “temporay” tax on tobacco to build the devany sports center. you see it at all of the televised nebraska (the football factory) football home games. they never did remove the tax. the “temporary” tax became permanent. and to add insult to injury, the sports center, built with tobacco taxes is a non-smoking facility.
Heh. From what I understand Income Tax was just supposed to be a temporary measure here in Canada as well.
There is nothing more permanent than a temporary measure.