Every time you buy a bottle of wine or a pack of cigarettes, you pay an added price for your vice in the form of a small, built-in sin tax. Gambling is also taxed. Soda is the next hot ticket.
(Some states have even considered taxing video games. Why not Mylie Cyrus? Or iPhone apps?)
This clever article on Plentii describes America’s co-dependent need to both condemn vices—yet profit from them. Which got us thinking…
If cigarette taxes alone put about $15.8 billion in government coffers in 2007—alcohol taxes generated $5.6 billion, according to the Tax Policy Center—what are you and I paying for our sins?
As a non-partisan, non-moralizing organization, DailyWorth would never tell you to stick to the straight and narrow—even if it’s cheaper.
But it might be worth doing some back-of-envelope calculations on the cost of your private indulgences. Addiction to Pirate Booty doesn’t count; overconsumption of 1980s music compilations does.
We want you to be happy. More than that, we want you to be rich. Make sure your money goes where you want it to.