State and local governments depend on many different types of taxes, one of which is known as an excise tax. Like general sales taxes, excise taxes are paid on the purchase of an item. But unlike sales taxes, excise...
- 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.)
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