If you’re searching for the perfect incentive to quit smoking, look no further than your wallet.
According to this USA Today report, heavy smoking-related taxes are resulting in significant drops in the consumption of tobacco products in the United States. Quoting from the article:
“The amount of decline in smoking is directly tied to the size of the tax increase. Cigarette sales fell 18 percent in North Carolina last year after the tax was raised in two steps to 35 cents from a nickel. The tobacco-growing state resisted higher cigarette taxes until 2005. Elsewhere:
All of this comes just as Congress is considering “the biggest federal cigarette tax hike in history,” the article states.
Taxes, it turns out, might just be good for you. Thoughts?