We all have some guilty pleasures right? I mean, who doesn’t? My guilty pleasure is enjoying a nice micro-brew from many different places. I love finding a great beer and enjoying it with friends. Heck, I even brew my own beer and have for years. There is nothing better than cracking open an ice-cold homemade beer that you put your pride and joy into making. I am getting a little thirsty now just thinking about it. I guess it is time to create a new batch!
The Sin Tax
Have you ever heard of the sin tax before? I have spoken to many people about this and many don’t even know what it is. The reason why is because most sin taxes are already incorporated into the price of some of the most popular guilty pleasures. Alcohol, Tobacco, and Gambling are three of the biggest products with sin taxes. The sin tax is one that is levied on a range of products that are deemed undesirable by society. The federal and state governments tax such products to make it less attractive to the consumer. While I understand the tax, I don’t think it has really worked, especially with alcohol and tobacco. The government gets a good amount of revenue from the sale of these products, but they are still extremely popular.
I was made aware of the following infographic that was created by accountingschoolguide.com. They put together a great piece about sin taxes. Since I love infographics, I just had to post it for your consumption. Don’t worry though, I won’t tax you to look it over. I don’t have that type of authority!
I hope you enjoy it and let me know what you think of the sin tax. Does anything in this infographic surprise you?
Infographic source: Accounting School Guide