From the day they were first introduced into the marketplace, ecigarettes have been fighting an uphill battle. They have had to take on the big tobacco companies; local, provincial, and federal governments; and advocacy groups that are against the spread of vaping.
However, many of the naysayers, who, mind you, base their arguments against ecigarettes based on low quality facts and misinformation, are overlooking one of the biggest advantages of regulating ecigarettes – tax revenue.
Another Benefit of Ecigarettes — Huge Tax Revenue Potential
The government is always looking for new sources of tax revenue, and much like the legalization of marijuana, regulating electronic cigarettes is a potentially huge source of revenue – which could be used to conduct further research into the use of ecigarettes and many other initiatives that could benefit society as a whole.
“To the average user, everything about e-cigarettes and vaping devices — the look, the smell, the taste, the satisfaction — feels as good or better than the traditional match-lit version. But to cash-craving states, there’s one important thing missing: taxes,” says Anna Edney on Bloomberg.
It’s no secret that the number of people who smoke is on the decline, and the number of people who vape is on the rise, and the revenue potential is staggering. According to Edney:The e-cigarette and vapor market is expected to more than triple between 2015 and 2019 to $15.9 billion Click To Tweet
Some Governments Are Already Taking Action
State governments in the U.S. are already seeing the potential and taking action. “Four states have already approved levies on e-cigarettes and related products, and the West Virginia legislature is considering its own tax,” says Edney. In total, at least 29 states have considered a tax.
How Will This Impact the Vaping Community?
This is a great question. Sure, there will be more regulations, and adding a tax will definitely influence the price of ecigarettes and related goods. But wouldn’t it be nice to finally be able to vape in peace?
What do you think? Would you be in favor of an ecigarette tax if it led to regulation and acceptance by the government?