Today de Blasio announced that he wants to make smuggling an even more financially lucrative option by jacking up the taxes on packs of cigarettes. Right now the lowest price for a pack of cigarettes in the city is $10.50 a pack. Under his proposal announced today the floor would jump to $13 a pack, the highest in the country.The mafia and/or New Hampshire thanks you for the business.
By sheer coincidence (if you are completely ignorant to even the most basic concepts of economics), New York has the highest rate of cigarette smuggling in the country. Though figures are hard to nail down—black markets, being what they are—stats suggest that more than half of all cigarettes are being sold illegally and untaxed in New York.
Wednesday, April 19, 2017
Youse gonna be working together
Hit and Run: "NYC Mayor Encourages Cigarette Smuggling with Plan to Massively Jack Up Prices - City with highest cost per pack also has highest bootlegging rate. Imagine that."