Taxes on illegal drugs: Easier said than done

Gov. Elliot Spitzer proposed that New York become the 30th…

Gov. Elliot Spitzer proposed that New York become the 30th state in the U.S. to begin imposing taxes on those who possess and deal illegal drugs in an effort to close an estimated budget deficit of $4.4 billion.  While other states have experienced financial benefits from their imposed taxes on drugs, such as the $11 million N. Carolina collected just last year, the plan has a flaw: What drug dealer in his/her right mind would pay taxes on something that’s illegal in the first place?  To read more on this story, click here and return back to comment.

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