A Federal tax increase of 40 cents for a big cigar, and $1 for a pack of small one may soon be compounded by a state tax increase if Florida decides to put it into effect. Swisher International Inc, a Jacksonville, FL based cigar manufacturer of more than 30 brands which employs roughly 1,300 people locally, is fearful of the additional tax increase. A representative of the company commented that the federal tax increase has already impacted sales, an additional increase on the state level would be too soon and too drastic for sales not to be drastically affected. The tax increase proposal is intended to help meet budget deficits and generate money for community health care programs to care for the millions of Floridians without health insurance. Supporters of the tax increase say that the money will be crucial to help the growing number of uninsured Floridians, while opponents say that it will unfairly affect the tobacco industry and all the people who work in it. What side of the fence do you stand on?
Cigarette Smokers Aren’t The Only Ones Feeling the Tax Increase
Tags: budget, federal tax, Florida, Health Insurance, industry, Tobacco tax