exercise tax on smoke and booze. most americans like the idea of elected officials manipulating us in a good way. for a while we had luxury tax, on private planes or cars over 30,000 dollars. this nothing under scores how sin taxes are often symbolic guesesture gestures. they become luxury during recessions. this happened in the early 90s where people are like okay let s go after luxury yachts thurston howl the third let s stru them by taxing them on that. that reduces the demands for yachts and the people who make yachts are not billionaires and you have lots of people thrown out of business. same thing with the rv s.
like illinois. we can zoom in and look particularly on where that stats loss is, even within the state by going in to cook county. and that s what allows us to see the relationship of how muchli responsibility a city may have for governing their state correctly or incorrectly. thank you, travis. again, you can download this ann inspect it d yourself. coming up, sin taxes. you want to smoke? eat junk, food? different states have different plans for takingg your money. that s next. ed
colorado is excited about the money they ll get from a marijuana. a way it s good becausero that s the upside of sin taxes is that cash-strapped governments everywhere, they always want more revenue. and suddenly they re willing toy say something, like maybe it s not such a bad thing if adults can legally smoke pot instead of going on the black market. we ll tax it. people are happy to play that tax for a while at a higher rate. i think it should be taxed at the same as milk essentially. but that is one of the ways that sin taxes can be i think a powerful agent for liberalizing good policies. thank you, nick. next, how complex taxes like what we have in here invite politicians to use this to punish their enemy. that s next. about
don t we want government to discourage destructive behavior? no. says reason tv nick. why not? if i want to hear about sin, i ll go to church or an anthony wiener press conference. when i turn i to politician, whs i wantin is fair laws that apply equally to all people and all products. who cares what you p want? that roux. the wise politicians decide it s better for the country if we re not all drunk or smoking cigarettes and progly is.s. there is a case that says cigarettes impose cost on peoplc in terms of health care. you can say there should be a tx tax on that to cover those clearly identifiable links at health conditions that get pushed onto other people. but that is when new yorkd city charges $5 in sin taxes for a pack of significant coats or chicago $6, they re going far beyond that. this is what s odd about$6 t
legalization. that will be about $98 million a year. but the problem with sin taxes they make the government complicit. if more states legalize are going to be doing it for the money. james. paul, this is a miss to senator ed marquee of massachusetts. almost like an episode of house of cards. but basically the senator has been carrying water for a hedge fund which has been betting against a company called herbal life nutritional company. the hedge fund betting on this company s failure claims that this is some kind of pyramid scheme. and so mr. markey has taken the hedge fund s brief and is urging federal regulators to investigate for fraud. just completely amazing that this is now a market tool to get politicians to create allegations. all right, james, thank you. that s it for this week s show. thanks to my panel and to all of you for watching.