Steven Greenhut Explains Why Cigarette Sin-Tax Hike Could Boost Black Markets

Anti-smoking activists in Sacramento have
submitted to the attorney general a proposed ballot measure to
boost taxes on a pack of cigarettes by $2, and use the revenues to
fund research into the treatment of tobacco-related diseases. It’s
the latest effort to crush smoking by significantly hiking the
costs of tobacco. But, Steven Greenhut points out, tax hikes offer
diminishing benefits and can lead to black markets.

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from Hit & Run

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