Dope Smokers - WSJ.com

Dope Smokers - editorial from the Wall Street Journal finds the flaws in the plans to raise tobacco taxes:

"Cigarettes have become every pol's favorite tax target, and last year Trenton raised its cigarette tax to $2.575 per pack -- the highest state levy in the nation. Governor Jon Corzine forecast that the tax increase of 17.5 cents a pack would fetch $30 million in revenue to help balance the state's $1 billion deficit. Not quite. A new analysis by the Center for Policy Research of New Jersey finds that the state collected $23 million less revenue from tobacco taxes in Fiscal 2007 than it did the year before."

Ouch.

Raise the tax rate, and collect LESS in tax revenue. Hmmm.