President Obama last week signed into law CHIP legislation that will be funded by an increase in the federal cigarette tax. According to the Journal, the legislation comes as at least 16 states are considering raising cigarette taxes by as much as four times the current amounts to offset "gaping budget holes" or fund state programs. The federal cigarette tax will increase from 39 cents to $1.01 per pack in April. The average state cigarette tax currently is $1.19 per pack. The national average cost for a pack of cigarettes, excluding federal and state taxes, is $4.32, according to the Campaign for Tobacco-Free Kids.
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The economy is down and they are raising more taxes, how brilliant. This is just legal stealing from a man who spends like a drunken sailor.
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