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02-04-2013, 06:03 AM | #1 |
Herf Meister
Join Date: Oct 2003
Location: Out of KSA FINALLY!
Posts: 7,834
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Another Tax Attempt
Just read this on a Herman Cain newsletter I get. What a frigging pain in the ass.
CONGRESS - A group of Democratic senators introduced a bill Thursday that would close tax loopholes for tobacco companies, generating $3.6 billion in revenue over 10 years.
Democratic Sens. Dick Durbin (Ill.), Frank Lautenberg (N.J.) and Richard Blumenthal (Conn.) introduced the Tobacco Tax Equity Act, S. 194, which would close tax loopholes that allow tobacco companies to avoid the federal cigarette and roll-your-own tobacco tax, by making taxes on pipe tobacco equivalent to cigarette tobacco. The senators said that closing loopholes in the tobacco tax code would generate roughly $3.6 billion over 10 years. Currently, small cigars and roll-your-own tobacco products are taxed at the same level as cigarettes but cigars, smokeless tobacco and pipe tobacco are taxed at a lower rate. S. 194 would make sure that all tobacco products are taxed the same as cigarettes, which have the highest tax level. Currently, the total federal cigarette tax is $1.01 per pack of cigarettes. Revenue from this tax is used to fund the Children’s Health Insurance Program (CHIP), which provides much-needed medical care for our nation’s low-income, uninsured children.
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Doug Finally out of the sandbox. If I say Corona, I ain't talking beer. RIP Ed Toner |
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