President Obama's Big Tax Hike on Working People

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Tuesday, 18 September 2012 08:56

Thanks to the liberal media most of the public probably has not heard about President Obama's big tax hike on working people, Dennis Cauchon at USA Today is on the case. Just 16 days into his term in office, President Obama signed a bill that raised a tax that primarily hits working people. To date this tax hike has meant more than $30 billion out of taxpayers' pockets.

If you missed this one, it's probably because you don't smoke. Obama raised the tobacco tax. It had the effect of leading to a sharp decline in smoking, with the number of smokers down by close to 3 million since 2009.

This sort of tax is always a mixed bag. There are many people who are genuinely hooked on cigarettes and are already struggling to pay their bills. Making their lives more difficult can't be a good thing.

On the other hand, insofar as higher cigarette prices get people to stop smoking or even better keeps them from ever starting, it's hard not to see that as a huge positive. Millions of people will enjoy longer healthier lives because of this tax increase. That's certainly good news. 

Anyhow USA Today deserves credit for giving this one some attention. It matters a lot more than many other items that have arisen in the presidential campaign.