The cigarettes tax under the Obama budget plan for 2014 would increase the cost 94 cents per pack.
As previously reported by The Inquisitr , the $3.77 trillion Obama budget for 2014 would add over $1 trillion in additional taxes over 10 years, increasing Federal government spending even more from the $3.6 trillion spent in 2012 . The Obama budget is supposed to decrease the deficit while also increasing spending through all the extra taxes, although these plans would assume the United States GDP continues to rise at a certain pace.
The rich would be expected to pay more in taxes and imposes deductions caps, but the corporate income tax rate would be lowered from 35 percent to 34 percent, with the long term goal being 28 percent which make the United States more competitive with other nations.
The Obama cigarette tax would increase the federal tax on packs of cigarettes from $1.01 a pack to $1.95. The 10 year goal is to raise an estimated $78 billion through the extra cigarette tax. The money would be spent on new pre-school programs for children at the age of four.
The Obama cigarette tax is also intended to force people to stop smoking:
“The proposed tobacco tax increase would have substantial public health benefits, particularly for young Americans. Researchers have found that raising taxes on cigarettes significantly reduces consumption, with especially large effects on youth smoking.”
The Campaign for Tobacco-Free Kids says the last time the federal cigarette tax was increased in 2009, cigarette sales dropped by 10 percent. Smoking is estimated to kill about 443,000 people each year in America.
Do you agree with the Obama cigarette tax proposed under the new budget plan?
