Archive for the ‘State/Local/Sin Taxes’ Category

Dude, Should Marijuana Be Legalized and Taxed?

Starting today, it is legal to smoke marijuana in Washington State. That got me thinking: Could taxing stoners help balance state budgets? The answer is yes, but it wouldn’t help much. One 2010 study, done for the libertarian CATO Institute, figures legalizing and taxing weed would increase state tax revenues by about $9 billion a […]

Cigarette Taxes: Where There’s Smoke, There’s Money

A new study by a national anti-smoking group argues that states could raise more than $9 billion in new revenues if they all hiked cigarette taxes by $1-a-pack. The levy wouldn’t come close to balancing recession-ruined state budgets, but it wouldn’t hurt. And, the group says, the higher tax would keep 2.3 million kids from becoming smokers and convince 1.2 million adults to quit, saving one million lives and $52 billion in health costs over the long-run. The study comes from the Campaign for Tobacco-Free Kids.