Wednesday, June 24, 2009

Higher Taxes Kill Jobs: Example 2388

A sad article on how the recent increase in tobacco taxes to fund the SCHIP kids health care fund, and the recent adoption of widespread city smoking bans, is resulting in 500 Florida people losing their jobs.

Taxes matter. This shows how a higher tax rate on anything combined with regulation ends up killing businesses and ultimately defeats the purpose of bringing in higher revenues. A closed business doesn't pay taxes. This is just one clear example for today's news. But this applies to any business and industry.

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