Thursday, February 28, 2013

With new tax, Chicagoans will pay $6.67 per pack for cigarettes in taxes

Here comes a sales boom for retailers on the other side of the Cook County border. When new county cigarette taxes kick in tomorrow--and Chicagoans will pay a whopping $6.67 per pack in taxes, that is, if they buy those smokes in the city. They'll pay a little less where I live in suburban Cook and a lot less elsewhere.

Of course Cook County Board President Toni Preckwinkle says that the new taxes will bring in lots of revenue.

But those estimates always fall short, which forces government to raise taxes in other ways. I mean, do you think they'll cut spending voluntarily?

Only New York City residents pay higher cigarette taxes.

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