“...economics professor Frank Chaloupka says. The increase in sales isn’t enough to offset the drop in state tax revenue, he says.
Well with that logic why not increase the tax to $20 a pack then the state will get less sales but an increase in tax revenue.
And this guy is an “economics” professor?
Well, at least he is at University of Illinois at Chicago, but it is more of a trade school that a fancy learnin' college. His full time job is 3rd shift cashier at 7/11.
I think it is a tenet of liberal economists that the primary purpose of any economy is to provide funding for government so government can properly manage the economy. Furthermore, a properly managed economy is one where “bad” behavior is discouraged by higher taxes, no one gets “too rich” and the peasants toil happily as directed by their betters. The law of supply and demand, in the liberal view, should be applied to maximize tax revenues. In other words, tax it until hurts, then back off just a tad.