from SLATE: >USA Today leads with an analysis that shows states that increased cigarette taxes have seen sharp declines in smoking. Now that Congress is considering raising the federal cigarette tax to as much as $1 per pack, some predict it will lead to a huge drop in the number of smokers.<
is it possible that the tax increase could actually reduce tax revenues by driving people to smoke other substances instead (or to give up altogether or to smuggle)? (Laffer's story doesn't work with the income tax, but it can work with excise taxes.) -- Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl, paraphrasing Dante.
