Friday, May 01, 2009

Wanna bet on sin taxes again?

Can we all agree that saving the state with sin taxes hikes is a horrible idea? Perhaps not. But that is mainly because those who still think they are a great idea just won't pay attention to the facts.

The experience of some other states might help.

And when Kentucky's state revenue numbers come out on Monday, May 11, the first month of the new, higher, cigarette tax rate should convince us all how dumb it is to gamble on bad tax policy. Unfortunately for us, we've already lost the bet.