India’s finance minister this week released a budget that includes, among other things, a five per cent reduction in the corporate income tax. Narendra Modi, the Prime Minister of India, won a landslide election last May...
- The Tax Policy Blog
- Cigarette Taxes Aren't This High (Yet)
Cigarette Taxes Aren't This High (Yet)
A New Hampshire man said he was shocked to check his bank account statement online to find his account overdrawn by more than $23 quadrillion dollars.
Josh Muszynski of Manchester said he was expecting to see a couple hundred dollars in his account, but instead he was faced with a negative balance far exceeding the national debt -- $23,148,855,308,184,500, WMUR-TV, Manchester, N.H., reported Wednesday.
"If it were to be true that someone actually compromised that money and got that money, they could do some severe damage with that amount of money," he said.
Muszynski said the amount appeared as a charge for a cigarette purchase at a Mobil gas station.
If it was up to groups like the American Cancer Society or nannies like New York mayor Michael Bloomberg, such a number may already be the government-mandated price tag on a pack of cigarettes. (Speaking of which, they never tell us what their ideal rate would be, do they? Just that it's always too low.)
Subscribe to the Tax Foundation Newsletter
We will never sell or share your information with third parties.
Join the Tax Foundation's fight for sound tax policy Go
About the Tax Policy Blog
The Tax Policy Blog is the official blog of the Tax Foundation, a non-partisan, non-profit research organization that has monitored tax policy at the federal, state and local levels since 1937. Our economists welcome your feedback. If you would like to send an e-mail to the author of a blog post, please click on that person's name to locate his or her e-mail address or visit our staff page here.