State Lawmakers Look to Sin to Cover Shortfalls
An increase in “sin taxes” may be used to make up for declining state tax receipts caused by recession. Eight states want to raise taxes on beer, wine or hard liquor, according to the Distilled Spirits Council of the United States. Washington and North Carolina lawmakers boosted a surcharge on alcohol sales and a liquor tax, respectively, last year.
Moderator Comment: Is it time to reevaluate the tax system in the U.S.?
There is nothing new about government trying to balance budgets on the back of the consumers of products such as alcohol and tobacco. But, isn’t it time that all consumption was taxed and that targeted levies such as gas, alcohol, income, capital gains and succession taxes were eliminated? [George Anderson – Moderator]