Regarding taxes, it's simple economics. People will pay it, so they charge it. Until there is dwindling returns (it reaches an amount where enough actually quit to redice tax revenues), there's no motivation to stop raising it.
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As mentioned, it won't hurt CVS at all. Cigarettes are a minimal profit items, and the money is made by people buying other stuff at the store when they get their smokes. I think it's safe to say that most people a) are not going to a drugstore specifically to buy cigarettes, it's probably more like convenience stores, and b) most people go into a drugstore knowing exactly what they want (a prescription or a particular OTC med), so their traffic shouldn't redice much, if at all.
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As a senior I don't chew and have all my teeth. Dip lets you toot your spit can around, class act. You also get to pay a tax and ***** about it. Smart move.
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They are even screwing the senior citizens trying to enjoy their Mail Pouch or Red Man. A few years ago, some do-gooder realized that smokeless tobacco was escaping the tax increases, so they decided to tax tobacco based on weight. So chewing tobacco doubled in price over night. Since mostly only the old folks chew that stuff, it might as well have been a direct tax on senior citizens. Because of that, I had to switch to Dip.
In the interest of full disclosure, I quit smoking, but continue to dip. LOL. Hey, I gotta have my nicotine. I'm still getting screwed on the taxes, but at least it's not near as bad as on cigarettes.
How are you screwed ?
Because it's tax rate is rediculous. Smokers have no choice but to pay it. Except to quit of course, which I did. But it wasn't all the governments doing. I do understand that the tobacco companies used the excuse of Uncle Sam jacking up the price to jack it up themselves even more. It became a runaway freight train, and so went cold turkey and quit.
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That is the keyword. Then you have throw into the considerations of what Mtlhed said.
"the health nazis and overtaxation by government."
You can just bet somewhere in this as tax payers we are going to get burned for it. By taxes or our Health care premiums. Leaves you with that...ugh!
Aren't you glad to know CVS is advancing Obama's efforts. (Not really sure that was their motivation, but....)
I think James may be right. CVS Caremark did remark about the loss of revenues.
Then Foulkes told USA TODAY that CVS sees its future as an alternative to the doctor's office.
I think it won't be a war on tobacco but I do see it as CVS is trying to cash in on the ACA. Somebody looking to get a piece of the pie. They are trying to compensate for their losses.
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Tobacco is just like drugs.As long as there is a demand someone well sell it.
Tell me what isn't over taxed.
Alcohol gasoline to name a few .
President Obama -- a former smoker -- hailed the announcement, saying in a statement Wednesday: "As one of the largest retailers and pharmacies in America, CVS Caremark sets a powerful example, and today's decision will help advance my administration's efforts to reduce tobacco-related deaths, cancer, and heart disease, as well as bring down health care costs – ultimately saving lives and protecting untold numbers of families from pain and heartbreak for years to come."
questioner, I too, was curious to about that what he said. The same day. The Prez did have a prepared statement for the same day.
I got this from USA Today.
"Nobody ever seemed to care that tobacco is way over taxed, so all us tobacco users are just screwed."
Everybody has their panties in a knot over how much the big tobacco companies' profit, but nobody ever questions the government's involvement in the industry and how much they profit.
I quit when it went over 50 cent a pack. Tax them up to $10 a pack food or smokes. I feel good also. Smoke your ass off plenty of room in the ground. As for CVS none of my business.
I think he's up to something !
So,did Obama have a response to this and what was it? (I assume he was in favor?)
It's amazing these tobacco co. are still buss.
Taxes , fines lawsuits doesn't stop
I agree on the taxing. A person should be able to make their own choice.
Ask yourself how much the insurance companies have to do with all this ?
Think about it!
Nobody ever seemed to care that tobacco is way over taxed, so all us tobacco users are just screwed. So I'll just sit back and laugh and enjoy the show when they start sin taxing pop, whole milk, candy bars, etc. And then I can be the one to say, "Hey, you don't need that anyways."
It's a common sense answer. No, it won't reduce smoking. It just makes one less place a guy can find some quick smokes if he runs out.
Ladybug, you're right about the 5 bucks a pack. That's why I quit 6 years ago. But realize that those prices aren't due to normal market forces or inflation, but rather the health nazis and overtaxation by government.
Nobodies going to the drug stores now cause they don't sell tobacco products.
It's their buss. They made the choice so don't loose any sleep over it .
I guess if we have people believing everything is a conspiracy they'll over look the fact our country is sinking and none of then are doing a thing about it but play the on camera blame game . Fact is they have no real solutions they can or will agree on
Hey Not Socialist and Gemini......CVS stated that cigs sales will not impact earnings due to them being low margin, but may have impact due to reduced store traffic.
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If you want to smoke go ahead and kill yourselves .
I don't know how anybody can afford it at $5 /pack and up.
What in gods name does Obama have to do with CVS's decision to quit selling tobacco products.
I think your the ones smoking and it isn't cigs.
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