The Obama budget is finally out and there are, to no surprise, a potpourri of new tax hikes proposed, many of which are aimed at the "wealthy" among us. Deep within the bowels of the colossal budget, however, lies a proposed tax that targets the poor among us and it is perhaps a precursor of other health-related taxes to come. President Obama proposes raising the tax on cigarettes from $1.01 to $1.95 per pack--a whopping 93% increase in taxes. The White House estimates that the tax would raise $78.1 billion, of which around $66 billion would be used to fund pre-k education and around $11 billion used for expanded home visits and care for infants and toddlers. Consider the impact of the tax on the taxpayer.  The 93% tax hike per pack of cigarettes affects lower income Americans far more than anyone else, making it a regressive tax. You see back in 2009, President Obama signed into law another cigarette tax increase and according to a Gallup study done near that time, some...(Read Full Post)