Lakhota
Diamond Member
- Thread starter
- #21
Percentage-wise, Obama is smacking the hell out of tobacco users.
5. Tobacco tax hike. The president's budget nearly doubles the tobacco tax, from $1.01 to $1.95 per pack, and then indexes it to inflation from there. This is a clear tax hike on middle class Americans. According to independent estimates, the average smoker in America makes about $40,000 per year. Additionally, tobacco taxes are a declining tax revenue base, and as a result it's inappropriate to fund new government programs using it. This isn't the first time President Obama has raised federal tobacco taxes. In 2009, on his 16th day in office, he signed into law a 156 percent increase in the tobacco tax. Such tax increases are a violation of Obama's central campaign promise not to sign "any form of tax increase" on Americans making less than $250,000 per year. Tax increase: $78 billion.
Top 10 Tax Hikes in the Obama Budget
What other group or product is getting raped like this?