SC raises cigarette tax by 700%

Waxhaw's smokers are left reeling.

As you've probably heard, the SC Senate overrode Gov. Sanford's veto to push through a 50 cents per pack tax increase. The last day to purchase cigarettes at the current tax rate is June 30th, so I suspect there will be some nominal hoarding occurring. More details on the specifics here.

The Charlotte Observer editorial page is a big fan of the new tax, although I suppose that's not much of a shocker. They take the opportunity to lament that NC didn't gouge the same minority of people with an excessive amount of taxes when given the chance. Read the whole thing here and tell me if you can't envision this entire column, nearly word-for-word, being recycled the next time the government goes after soda, fast food, salt, or whatever simple pleasure they decide you shouldn't be partaking in next.

Here's an opposing opinion detailing some points as to why this new tax increase won't be the financial boon to the SC that its state legislature hopes it to be. The author makes some reasonable points, the most identifiable to Waxhaw being that SC would be losing border sales of NC residents and also the borders sales of its own residents along the Georgia border. If SC prices align with NC prices (even if slightly lower), there's significantly less incentive for NC residents to get their cigarettes while passing through SC. It appears the SC legislature have foolishly planned for increased sales despite a 700% tax increase.

It's worth reading the whole thing.

Cigarette retailers in Indian Land need to have a Customer Appreciation Day on June 30th targeting NC denizens as they come in to buy what might be their last cigarettes from SC. They can make an event out of it.

EDIT 6/24: Fixed a few typos. I really need to start reviewing my grammar more closely before posting.