SCHIP tax increase

[ghe]

For those who haven't caught up yet, the federal tax increase on pipe tobacoo in the SCHIP reauthorization bill introduced today goes from $1.0969 per pound to $2.8126 per pound. If my math's correct, that's a rise from about 7 cents an ounce to about 18 cents. For a 50 gm tin, that means an increase to about 32 cents from about 12 cents. The bill's likely to be approved and signed sometime in February with the increases to go into effect April 1.
For large cigars, the tax cap was set at 40 cents per cigar. There's no floor tax for cigars, but I believe there is for all other tobacco.
Any of you who roll your own cigarettes might want to stock up. The tax on RYO tobacco will go from $1.0969 a pound to $24.62 a pound.

[JacksonCognac]

Originally Posted by ghe

For those who haven't caught up yet, the federal tax increase on pipe tobacoo in the SCHIP reauthorization bill introduced today goes from $1.0969 per pound to $2.8126 per pound. If my math's correct, that's a rise from about 7 cents an ounce to about 18 cents. For a 50 gm tin, that means an increase to about 32 cents from about 12 cents. The bill's likely to be approved and signed sometime in February with the increases to go into effect April 1.
For large cigars, the tax cap was set at 40 cents per cigar. There's no floor tax for cigars, but I believe there is for all other tobacco.
Any of you who roll your own cigarettes might want to stock up. The tax on RYO tobacco will go from $1.0969 a pound to $24.62 a pound.

WHAT??? That is insane. No point to rolling your own when it's that expensive...

[blackey73]

Originally Posted by ghe

For those who haven't caught up yet, the federal tax increase on pipe tobacoo in the SCHIP reauthorization bill introduced today goes from $1.0969 per pound to $2.8126 per pound. If my math's correct, that's a rise from about 7 cents an ounce to about 18 cents. For a 50 gm tin, that means an increase to about 32 cents from about 12 cents. The bill's likely to be approved and signed sometime in February with the increases to go into effect April 1.
For large cigars, the tax cap was set at 40 cents per cigar. There's no floor tax for cigars, but I believe there is for all other tobacco.
Any of you who roll your own cigarettes might want to stock up. The tax on RYO tobacco will go from $1.0969 a pound to $24.62 a pound.

Wow, thanks for the information. Where did you hear all this?

[ghe]

Originally Posted by blackey73

Wow, thanks for the information. Where did you hear all this?

I write for Stogie Guys and we reported on it today — mostly about the cigar impact. But I thought folks here would be interested in the pipe tobacco aspects. If you go to The Stogie Guys — Blowin’ Smoke on Everything Cigars - cigar reviews, news and commentary 7 days a week you can read about and there's a link if you want to get the direct tax figures from the bill.

[blackey73]

Thanks, I will check it out.

[mike t]

Originally Posted by JacksonCognac

WHAT??? That is insane. No point to rolling your own when it's that expensive...

thats freakin pathetic!

[Professor Mike]

Originally Posted by mike t

thats freakin pathetic!

Typical Liberal Congress. Tax and Spend,Tax and Spend!!!!!!!!!!!!!!!!

[RJpuffs]

Originally Posted by Professor Mike

Typical Liberal Congress. Tax and Spend,Tax and Spend!!!!!!!!!!!!!!!!

Don't complain (goes for all of you'se) - pick up that phone, drop a nickel, rant and rave. Find your congress-critter phone numbers off their website and let 'em have a piece of yer mind.

[emh]

Originally Posted by RJpuffs

Don't complain (goes for all of you'se) - pick up that phone, drop a nickel, rant and rave. Find your congress-critter phone numbers off their website and let 'em have a piece of yer mind.

Yep!
That works.

[dmkerr]

Originally Posted by emh

Yep!
That works.

Not so much for smokers.

[emh]

This is just the beginning.....But hey...its for the kids, right?
Hello?......Is this thing on?

[Professor Mike]

I've called ,I've e-mailed ,I ranted and raved and yes I voted. The liberals are going to have their way this time you can bet on it. This is just the begining of what you can expect for the next four years.

[Slow Triathlete]

I know that this is probably a moot point, but doesn't Barrack smoke cigarettes?

Probably doesn't factor in to his decision though, look at Arnold out in Cali.

[RJpuffs]

Originally Posted by Professor Mike

I've called ,I've e-mailed ,I ranted and raved and yes I voted. The liberals are going to have their way this time you can bet on it. This is just the begining of what you can expect for the next four years.

Unfortunately it appears to be a "bipartisan" (now there is an oxymoron if I ever heard one!) bill with support from all sides. Obviously the revenue it generates will not cover what they envision the money to be used for - thus those programs will be cut anyways and the money re-routed to fund other "congressional" follies. Which is the whole point. And why ALL the bandits are jumping on the bandwagon.

[RJpuffs]

Originally Posted by Slow Triathlete

I know that this is probably a moot point, but doesn't Barrack smoke cigarettes?

Probably doesn't factor in to his decision though, look at Arnold out in Cali.

He did "promise" to quit. A politician made a promise, on an election year. Oh my

But really, these guys make so much money they could roll-your-own with a C note and not bat an eyelid.