If Obama has his way, many of our favorite vices – including smoking and drinking – will cost us more in 2014.
That’s because the president’s budget proposal, which was finally released Wednesday after a two-month delay, adds taxes to flavored alcohols and tobacco products to pay for his unprecedented spending.
Even the president’s own favorite vice – golf – will see a tax increase in 2014. That’s because the Treasury plans to remove a loophole for golf course owners that previously allowed them to receive a tax break if they helped conserve the land their golf course sits on.
If you’re a cigarette smoker, you might want to stop chain smoking if this budget is approved. While $1 in taxes is already levied on each pack of cigarettes sold in the U.S., Obama’s new budget proposal calls for almost a 100 percent tax increase – bringing the cigarette tax up to $1.95 per pack!
You also should start stocking up on Malibu Coconut Rum, because flavored spirits are under attack as well. The government plans on rolling back a rebate it gives distillers who add flavorings to their liquors from the original spirits tax of $13.50 per proof-gallon.
The Treasury argues this tax break gives flavored liquors too much of an edge over their competition. We just think they have never tasted Whipped Cream Smirnoff before— it needs all the help it can get.
But don’t worry Natty Light drinkers — Obama’s budget still won’t affect you at all!
