"Sin" Products should be taxed more heavily - 0 views
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Matthew R on 23 Oct 12Benjamin Diokno of Malaya Business Insight believes that taxes on cigarettes, liquor, gambling, and oil should be taxed much more heavily. He believes they should account for one third of all taxes. Price elasticity is about 0.6 for cigarettes and about 0.23 for liquor. I do not agree with Benjamin on this one. Firstly, because I do not believe that drinking or smoking is a sin. Some people have lots of pain and trouble in this world and maybe drinking is the only way for them to experience peace. And what if someone has just come off drugs, so instead uses cigarettes instead of Cocaine. Would you still think its a sin to smoke cigarettes? These should be taxed just as equally as other products. Im interested on your views. Comment and let me know !