do you think it was the right decision to increase excise taxes ?

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do you think it was the right decision to increase excise taxes ?

Here are some links that might be useful to you:

https://taxfoundation.org/research/all/federal/federal-tobacco-tax-proposal

https://taxfoundation.org/research/all/federal/federal-tobacco-tax-proposal
Federal Proposal to Increase Tobacco and Nicotine Products Taxes
Before a tax increase, a taxpayer making around $15,000 (mean income in the lowest quintile) would pay $90 annually in federal cigarette taxes, and a taxpayer making $254,000 would pay $127 annually. After a federal increase, those numbers rise to $150 and $254, respectively. Even this, however, does not tell the whole story.

https://taxfoundation.org/blog/what-are-excise-taxes-and-why-are-they-going

https://taxfoundation.org/blog/what-are-excise-taxes-and-why-are-they-going
What Are Excise Taxes and Why Are They Going Up? – Tax Foundation
Can excise taxes keep going up? People are always pushing harder on these taxes. The revenue total from them hasn’t started to decrease, but states that push very high start to see drops. That happens for two reasons. The higher the price, the less people consume the item. A high tax can also create the incentive to get around .

https://taxfoundation.org / research / all / federal / excise-taxes-excise-tax-trends

https://taxfoundation.org / research / all / federal / excise-taxes-excise-tax-trends
Excise Taxes | Excise Tax Trends | Tax Foundation
The average state excise tax rate in 2021 is 25.7 cents, but gasoline is taxed at an average rate of 36.8 cents per gallon when other taxes are included. [47] Diesel fuel is taxed at 24.3 cents per gallon at the federal level and at a combined (all state and local taxes) rate of 37.8 cents at the state level.

https://files.taxfoundation.org/20210830114730/Analysis-of-Federal-Proposal-to-Increase-Tobacco-and-Nicotine-Products-Taxes.pdf

https://files.taxfoundation.org/20210830114730/Analysis-of-Federal-Proposal-to-Increase-Tobacco-and-Nicotine-Products-Taxes.pdf
PDF Analysis of Federal Proposal to Increase Tobacco and Nicotine Products …
While the increase will raise substantial revenue, excise taxes should not be considered a stable revenue source, since they are so narrowly imposed.10 Decades of declining use means that tobacco taxes generally raise less revenue with each passing year. In addition, the narrow tax base exposes the revenue to non-tax-related regulatory policy.

https://www.crfb.org/blogs/targeting-tobacco-budgetary-effects-cigarette-tax-increase

https://www.crfb.org/blogs/targeting-tobacco-budgetary-effects-cigarette-tax-increase
Targeting Tobacco: The Budgetary Effects of a Cigarette Tax Increase
CBO’s latest report details the full effects on the federal budget of raising the federal excise tax on cigarettes. As they would when analyzing any tax policy, CBO estimates the revenue effect of this tax increase by looking both at how an increase in taxes would increase revenue, and how the subsequent reduction in cigarette purchases would reduce revenue.

https://www.cbo.gov/publication/43319

https://www.cbo.gov/publication/43319
Raising the Excise Tax on Cigarettes: Effects on Health and the Federal …
Specifically, CBO analyzed the budgetary effects of a hypothetical increase of 50 cents per pack in the federal excise tax on cigarettes and small cigars (from $1.01 to $1.51 in fiscal year 2013, with the increase adjusted each year to keep pace with inflation and, in the long term, with the growth of people’s income).

https://www.rjwala.com/2023/02/do-you-think-it-was-right-decision-to.html

https://www.rjwala.com/2023/02/do-you-think-it-was-right-decision-to.html
Do you think it was the right decision to increase excise taxes? – Rjwala
26 févr. 2023Rjwala is a platform that provides question-answer services for various topics, including increase excise taxes. The web page explains the factors that should be considered when making this decision, such as the context, the objectives, and the consequences. It also provides a link to ask your next query on Rjwala.

https://www.taxpolicycenter.org/briefing-book/what-are-major-federal-excise-taxes-and-how-much-money-do-they-raise

https://www.taxpolicycenter.org/briefing-book/what-are-major-federal-excise-taxes-and-how-much-money-do-they-raise
What are the major federal excise taxes, and how much money do they …
Excise Taxes Dedicated to the Highway Trust Fund. Highway-related excise tax revenue totaled $41.5 billion in 2022, 47 percent of all excise tax revenue. Gasoline and diesel taxes, which are 18.4 and 24.4 cents per gallon, respectively, make up over 85 percent of total highway tax revenue, with the remaining from on other fuels, trucks …

https://www.taxpolicycenter.org/briefing-book/who-bears-burden-federal-excise-taxes

https://www.taxpolicycenter.org/briefing-book/who-bears-burden-federal-excise-taxes
Who bears the burden of federal excise taxes? | Tax Policy Center
That is, the average federal excise tax rate (the excise tax burden as a percentage of pretax income) declines as income rises. The average excise tax rate falls from 0.6 percent in the bottom quintile to 0.4 in highest quintile, and to 0.3 percent of income in the top 1 percent (table 1). (Each quintile contains 20 percent of the population …

https://crsreports.congress.gov/product/pdf/R/R43189/4

https://crsreports.congress.gov/product/pdf/R/R43189/4
Federal Excise Taxes: An Introduction and General Analysis – CRS Reports
Federal excise taxes comprised 7.0% of all federal revenue in 1973, whereas they comprised 3.2% in 2012. Congress may be interested in revisiting the revenue and economic effects of excise taxes because these taxes could play a growing role in financing public goods.
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