Yesterday, President Obama’s first tax hike took effect. Yes, that’s right on April Fool’s day, but it’s no joke.
When President Obama first took office, he pushed through Congress, and signed a bill increasing taxes on tobacco. This increase amounts to 62 cents per pack of cigarettes, and 40 cents per individual cigar.
This came as part of the so-called State Children’s Health Insurance Program (SCHIP), unfortunately, it is not nearly as strong a program as its title implies. It is nothing more than the first step in the short march towards socialized healthcare.
President Obama pledged that he wouldn’t raise taxes on Americans making less than $250,000/year, but this tax will fall most heavily on those making significantly less than that.
Just exactly what are the President and Congressional Democrats trying to accomplish here?
Cross-posted from Townhall.com