Smoking out the $$$s

The Illinois Senate Executive Committee, consisting of nine Democrats and six Republicans, thinks it is going to cause a $1.00 increase (100%) in taxes on a pack of cigarettes.

An economist at the University of Illinois-Chicago estimated that the tax might generate $352,000,000 when fully implemented after two years. And then it would drop 2.5%/year as people stop smoking.

Maybe I should start doing stop-smoking hypnosis. I would, but I hate the smell.

If a smoker bought two packs every day, the "extra" tax would be $730/year. If I just charged him a flat $700 to stop smoking, would it be worth it? If a pack costs $5, then two packs cost $10. $10/day x 365 = $3,650/year. So he'd have $3,650 in his pocket, and I'd have $700. That ought to be a pretty good deal for a smoker; right?

Maybe that smell isn't so bad, after all...