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<ul class="summary-list"><li><a target="_blank" href="https://www.businessinsider.com/tesla">Tesla</a> launched a $450 lightning-shaped bottle of mezcal, its priciest alcohol yet.</li><li>The hand-blown bottle, inspired by Oaxaca pottery, features a sleek black finish.</li></ul>Tesla announced its most expensive alcohol yet earlier this month: a $450 lightning-shaped bottle of mezcal.Announced on June 6, Tesla Mezcal has since sold out, according to the listing.Tesla's director of product design, Javier Verdura, designed the hand-blown glass bottle, which has a sleek black finish and draws inspiration from centuries-old pottery traditions in Oaxaca, Mexico, <a target="_blank" href="https://teslamezcal.tesla.com/">Tesla</a> said on its website.The liquor has a citrusy taste with notes of lime and green apple and a smoky finish, according to the listing. It also has some sweeter flavors with finishes of tuberose, jasmine, and chamomile, the website says.<div type="image" title="A lightning-shaped bottle of Tesla Mezcal." height="1017" width="986" msid="110805149" hostid="261"></div>Believe it or not, this is the third limited-release alcohol product the carmaker has produced — and they've all been pricey.Last year, Tesla sold a set of two 11-ounce <a target="_blank" rel="" href="https://www.businessinsider.com/tesla-two-beers-cost-150-elon-musk-cyberbeer-cybertruck-2023-10">CyberBeers with two ceramic CyberSteins</a> for $150. The set was designed to mimic the look of a Cybertruck, which had yet to be released at the time.Earlier in 2023, the electric-vehicle giant launched a limited-edition <a target="_blank" href="https://www.businessinsider.com/elon-musk-is-selling-30-tesla-beers-made-from-cyberhops-2023-4">GigaBier</a> to celebrate the opening of Tesla's Gigafactory in Berlin. The Pilsner-style lager cost about $98 for a pack of three. The EV maker also released a $250 gold bottle of <a target="_blank" rel="" href="https://www.businessinsider.com/tesla-tequila-elon-musk-electric-car-company-drink-2020-11">Tesla Tequila</a> in a lightning-shaped bottle, similar to the latest one. The 750-milliliter bottle came out in 2020, two years after Musk joked about "<a target="_blank" href="https://x.com/elonmusk/status/980566116614291456">Teslaquilla</a>" in a tweet.Tesla Tequila sold out within hours, and <a target="_blank" href="https://www.businessinsider.com/teslas-tequila-back-in-stock-online-2021-3">Tesla released a second batch</a> in March 2021, which also sold out almost immediately. After it sold out, resellers listed empty bottles of the Tesla Tequila for thousands of dollars online.Tesla Mezcal comes to about $498 after taxes, and each customer is limited to two sets. Tesla didn't respond to Business Insider about how many Mezcals had been sold so far.Now it's sold out, at least one customer who ordered the liquor is trying to profit off it, listing the <a target="_blank" class="" href="https://affiliate.insider.com?h=5c992f273432a2d79ad962189a5ac2ccbcc3e8003d94ec897dfa2ea80fa93207&amp;postID=66631f3bb38735ca9de5a99e&amp;postSlug=tesla-mezcal-bottle-for-sale-2024-6&amp;site=bi&amp;u=https%3A%2F%2Fwww.ebay.com%2Fitm%2F266861757395%3Fitmmeta%3D01J0KA9J2AGAKGCHHWKNZ0GCBJ%26hash%3Ditem3e223343d3%3Ag%3ADo4AAOSwPOdmba4h%26itmprp%3Denc%253AAQAJAAAA4Gf54k0a9f0C21RvS2m0084hjeHKCfI%252BqtwPecsvf9AVEBJNZdvior7qKEPF%252F4Ea08bsoo1mOXgVmodB0LixRiWfj2pPfluullNhNNg5VxVpRhgeoV68OGpU%252FDjhfwAnRbtjbNYP8PJ08U9NYdu1OfL58JOXZwZA7kAZHWozweh%252BMWurdqF6OHEuqIer0yW4vF2JirG3xWH1zLMKd2A1MJDNXoFHrEmAKSxUohk7gX6J1u0cg1JJFT%252FEXjwk9ztGLpM142gXUxaAJJw2dAAIb0p9SE9Qn5PqKCnFjUZe2kFo%257Ctkp%253ABFBMmqGm6oRk">empty bottle on eBay for $5,000</a>.

Tesla sells out of its most expensive liquor yet &mdash; a $450 bottle of mezcal

<ul class="summary-list"><li>Katie Butler quit drinking in 2021 after realizing its mental, physical, and monetary toll.</li><li>She previously spent up to $2,000 a month on alcohol to manage her anxiety, starting in college.</li></ul>This as-told-to essay is based on a conversation with Katie Butler, a 30-year-old from Dallas, whose sobriety saves her money. It's been edited for length and clarity.For nearly eight years, alcohol was my only escape from anxiety. I spent up to $2,000 a month to fund <a target="_blank" class="" href="https://www.businessinsider.com/guides/health/how-to-stop-drinking">a drinking habit</a> that I believed was helping me.But, when I hit rock bottom in 2021 and was confronted with the mental, physical, and monetary toll of drinking, I quit. My journey to sobriety wasn't easy, but I'm now able to save money for my future while <a target="_blank" class="" href="https://www.businessinsider.com/how-i-stopped-drinking-boosted-immune-system-2023-5">investing in a nourishing lifestyle</a>.<h2 id="4144c848-73a1-430d-86cb-ed94610c3be8">I started drinking in college to soothe my anxiety</h2>I'll never forget the first time I got drunk. It was my freshman year of college, and I remember feeling like it was the first time I had a reprieve from my anxiety. From then on, <a target="_blank" class="" href="https://www.businessinsider.com/college-drinking-culture-greek-life-alcoholism-blacking-out-2023-12">alcohol became my crutch</a>, an escape from reality.I was very fortunate to have <a target="_blank" class="" href="https://www.businessinsider.com/adult-moved-back-home-with-parents-who-pay-bills-rent-2024-7">parents who financially supported me</a> throughout college. During my senior year, I spent multiple days a week going to bars, buying drinks, and racking up charges. My mom called me one day about my credit card bill and said, "Do you have any idea how much you're spending?" Admittedly, I didn't.But, when I graduated from college and started paying my bills on an entry-level job salary in higher education, I had no choice but to take notice.<h2 id="49037125-0f73-4578-a811-51740895c080">Every extra dime went to funding my drinking habits</h2>Rent took up most of my paycheck, but the rest went directly to drinking. A typical night out consisted of Uber rides around town, stops at liquor stores, fancy meals with fine wine, and two to three more drinks at the bar to end the night.Rinse and repeat three times a week for upwards of $2000 a month.At age 24, I decided to pursue a master's degree to open up more career advancement opportunities. I'm endlessly proud of my degree, but if I'm being honest, I went back to school to sustain my drinking habits.My peers in my master's program were all a bit older than me, and I remember going over to their beautifully decorated homes and seeing the rich lives they'd built. I realized that I wanted what they had, but I knew <a target="_blank" class="" href="https://www.businessinsider.com/i-quit-alcohol-after-30-years-of-misuse-2022-6">I couldn't do it with alcohol in the picture</a>.After a year of deeply contemplating sobriety, I took my <a target="_blank" class="" href="https://www.businessinsider.com/quitting-alcohol-changed-my-life-2018-4">final sip of alcohol</a> in October 2021.<h2 id="babd87bf-50db-4040-94cb-c717fde4576b">Getting sober was a fresh start</h2>That same year I graduated with my master's degree and started a full-time job in talent acquisition. It felt like I was starting fresh. I remember tracking my bills coming in and being shocked at how much money I saved. <a target="_blank" class="" href="https://www.businessinsider.com/quit-alcohol-things-that-happen-to-your-brain-body-2022-1">Cutting out alcohol</a> and the sneakily expensive lifestyle that surrounded me saves me $1,000 a month.For the first time in my life, I have money to put in savings each month, and I even started investing in a THC-infused drink brand. I haven't made any financial gains yet, but I feel passionate about supporting a brand that provides folks like me with a healthier alternative to alcohol.My boyfriend, who I met after getting sober, and I started renting a townhouse last December. We save a small percentage of our monthly paychecks to purchase a house. Knowing that I'm investing in my future, I feel confident in <a target="_blank" class="" href="https://www.businessinsider.com/financial-literacy-things-about-money-adults-dont-know-2024-7">my financial decisions</a>.<h2 id="150826df-cc5c-46e6-bfc4-e1fd53965ad1">I'm able to invest in a nourishing lifestyle</h2>My priority is saving, but I can also spend money on a lifestyle that nourishes me.I spend a total of $325 a month on two gym memberships and gift myself a massage or facial every other month at about $200. A previous version of me would've found these expenses ridiculous, but taking care of myself is a way for me to <a target="_blank" class="" href="https://www.businessinsider.com/how-to-deal-with-anxiety-at-work-2016-6">manage my anxiety</a> in the way alcohol never truly could. Plus, there's no nasty hangover after spin class and a facial.It <a target="_blank" class="" href="https://www.businessinsider.com/parents-sober-stopped-drinking-start-family-2024-1">wasn't easy to go alcohol-free</a>. For nearly eight years, alcohol was my thrill, my safety, my fun, and my lifeline. Letting it go meant a piece of me was left empty. It took time for me to fill that space, but now I have the means to choose a lifestyle that supports me and my future.If you saved money by eliminating an unhealthy habit and want to tell your story, please email Tess Martinelli at <a target="_blank" href="mailto:tmartinelli@businessinsider.com">tmartinelli@businessinsider.com</a>.

I saved $1,000 a month when I cut alcohol. The emotional and physical tax was just as expensive.

The West Bengal government has earned a whopping state excise income of Rs 600 crore through sale of liquor during the four days of the just concluded <keyword id="6357908" type="General" weightage="80" keywordseo="durga-puja" source="Orion">Durga Puja</keyword> festival in the state. Monday was the first working day for the state government after a long Durga Puja vacation and the calculations drawn on the <keyword id="167799" type="General" weightage="20" keywordseo="liquor-sales" source="Orion">liquor sales</keyword> in the state and the amount coming to the state exchequer in the form of state excise has made the officials of the state finance department quite elated. As per calculations of the state finance department officials, the state excise collection has already touched around Rs 8,000 crore which is around 45 per cent of the targeted collection of Rs 17,921.56 crore as per the budget estimates for 2023-24. Going by the trend during the four days of Durga Puja, the state excise officials expect similar impressive sales of liquor and beer during the current month on the occasion of <keyword id="57824" type="General" weightage="80" keywordseo="kali-puja" source="Orion">Kali Puja</keyword> and Diwali and then in December because of another prolonged festive season starting with Christmas and ending with New Year's Eve. "Generally, the period between October and January is the boom period as regards liquor sales and state excise collection because of two prolonged festive seasons at short intervals. But the trend in Durga Puja this year on this count has surpassed all previous records. So it is now almost certain that the targeted state excise collection will be well surpassed by the end of the current financial year," said a state finance department official. As per the budget estimates for the financial year of 2023-24, the state excise collection is slated to rise to Rs 17,921.56 crore, up by 19.41 per cent from the figure of from Rs 15,001.39 crore as per the revised estimates for the financial year of 2022-23. Whereas, the total state's own tax revenue as per the budget estimates for 2023-24 is slated to increase by just 12.69 per cent to Rs 88,595.54 crore from the figure of Rs 79,5000 crore as per the revised estimates for 2022-23.

Liquor sales touches Rs 600 cr-mark during 4 days of Durga pooja festivities in Bengal

By imposing a healthcare tax on <keyword id="6356212" type="UNKNOWN" weightage="20" keywordseo="LIQUOR">liquor</keyword> and fuel, the <keyword id="44522" type="LOCATION" weightage="20" keywordseo="Uttarakhand">Uttarakhand</keyword> cabinet on Thursday increased the price of liquor by amounts between Rs 20 and Rs 200 per bottle and that of petrol and diesel per litre by Rs one and Rs two respectively. The healthcare tax imposed on liquor and petrol-diesel will be utilised for the development of the state, cabinet minister and State <keyword id="26362" type="ORGANIZATION" weightage="20" keywordseo="Government">government</keyword> spokesperson <keyword id="266731" type="PERSON" weightage="20" keywordseo="Madan-Kaushik">Madan Kaushik</keyword> said. Both the decisions will come into immediate effect as soon as the government orders in this regard come into force, Kaushik said. Foreign-made liquor and liquor made in India will now be available for an additional cost of Rs 20 to 200 per litre, he said. <div type="Article" hostid="261" msid="75615480" title="There was a second gas leak at LG Polymers' Vizag late on Thursday" mstype="2" mssubtype="0"></div> <div type="Article" hostid="261" msid="75595863" title="The hike in excise duty on petrol and diesel is good news for these two companies" mstype="2" mssubtype="0"></div>

Uttarakhand imposes healthcare tax  on liquor

<ul class="summary-list"><li>A lucky person in California won the $1.76 billion Powerball jackpot on Wednesday. </li><li>If the winner opts to take the lump-sum amount, they will receive $783.3 million before taxes. </li></ul>The winner of the $1.76bn Powerball jackpot may get a maximum of $575 million after taxes if they take the lump-sum option.The winning ticket was sold on Wednesday at Midway Market &amp; Liquor in Frazier Park, California, which is roughly 70 miles north of Los Angeles, <a target="_blank" rel="noopener nofollow" href="https://www.calottery.com/draw-games/powerball">an official statement said.</a>The winning numbers were 22, 24, 40, 52, 64 and the Powerball 10.It is the second-largest jackpot in US history and comes after no tickets matched all six numbers drawn Monday night.The winner's identity has not yet been revealed. It is also unclear whether or not they will choose to receive a payout spread over 30 annual installments or a lump sum amount, though most usually go for the latter.If the winner chooses the lump sum payment, the amount will drop to $575 million after a mandatory federal tax withholding of 24, <a target="_blank" href="https://www.forbes.com/sites/siladityaray/2023/10/10/powerball-jackpot-climbs-to-173-billion-heres-what-the-winner-will-take-home-after-taxes/?sh=7f114ef1417b">according to Forbes.</a>This number could drop even more depending on the winner's taxable income as they may face a federal marginal rate of up to 37%.The winner could face an additional cut depending on their state of residence. While California doesn't tax lottery winnings, states like New York do."Congratulations to the newest Powerball billionaire and the millions of Powerball players who won other cash prizes in last night's drawing," said Drew Svitko, Powerball Product Group Chair and Pennsylvania Lottery Executive Director.A portion of the sales goes toward public services and programs supported by lotteries nationwide, Svitko added.This is the fourth time this year that a lottery jackpot amount has crossed $1 billion.

The winner of the $1.76bn Powerball jackpot may only get $575 million after taxes if they take the lump-sum option

Kolkata, Jun 30 () Manufacturers of alcoholic beverages have urged the West Bengal government to reduce sales tax on liquor from the existing 30 per cent to a "reasonable" rate, which will increase sales and help the state earn more revenue, an official said on Tuesday. In an apparent bid to shore up revenues in COVID-19 time, the state government imposed 30 per cent sales tax on liquor and the new prices came into effect from April 9. "The increase of sales tax on liquor by 30 per cent on April 9 has led to drastic fall in sales, which resulted in lower collections for state exchequer," the Confederation of Indian Alcoholic Beverage Companies (CIABC) said in a representation to the state government. Sales in April and May fell by 84 per cent and 35 per cent respectively due to high taxes imposed on liquor, CIABC director-general Vinod Giri said. There is also sufficient empirical evidence that when prices are increased sharply, consumers prefer cheaper products and hence, tax collection per bottle goes down, he said adding that steep increase in taxes may actually turn out to be counterproductive. "We humbly request you to reduce the increase in sales tax on liquor to a level not more than 5-10 per cent. We believe that with such increases the adverse impact on sales will be low, thus leading to higher tax revenues for the government, besides obvious benefits to the companies and the consumers," Giri said. He claimed that the Delhi government, after weighing the data presented by the association, decided to withdraw the 70 per cent cess and replaced it with a "reasonable five per cent increase" in VAT. Compared to the price of liquor in neighbouring states, it is on the higher side in West Bengal, which may lead to illegal trading of alcoholic beverages, Giri said. "The difference in prices is now too wide and we apprehend that this will lead to a large scale smuggling of liquor thus affecting the genuine sales in the state and the government revenue," he added. BDC NN NN

Liquor makers urge Bengal govt to reduce 30pc sales tax

(Eds: Minor edit in headline) New Delhi, May 17 () Liquor makers have urged the Kerala government to not impose additional sales taxes on the Indian made foreign liquor (IMFL) which already attracts steep levies of up to 240 per cent in the state. In a letter to the Kerala government, the Federation of Alcohol Beverage Producers (India) has noted that IMFL is paying high taxes of up to 240 per cent in Kerala in comparison to imported liquor which is taxed at 88 per cent. "As a result, a product of same quality sells at Rs 2,600 if made in India compared to Rs 1,600 if imported," said the association in a letter to the state government. The association further said that the state government is expected to impose an additional sales tax of 35 per cent on IMFL, and not on imported liquor. "This is in our view is taking the matter to bizarre proportions. Just to give you a reference after this the tax difference between the two will go to an incredible 189 per cent. Instead of rectifying the error, the Government is further compounding it," the association's Director-General Vinod Giri said. Recently, several state governments imposed additional taxes on liquor while allowing sales in the third phase of the lockdown. Liquor sales remained suspended for more than 40 days in the first two phases of the lockdown to contain coronavirus panedmic, hitting state revenue. "We reiterate our earnest request to review the Excise Policy of Kerala and issue necessary amendments to remove blatant discrimination in favour of imported products," the association said. Earlier, alcoholic beverages industry bodies had said that levy of additional taxes on liquor by several state governments, as high as 75 per cent, will be counterproductive in the long run. States like Andhra Pradesh, Delhi and West Bengal have imposed 75 per cent, 70 per cent and 40 per cent additional levy respectively on liquor, which resumed window sales from May 4 after a gap of almost 40 days in during the ongoing lockdown. KRH MRMR

Liquor makers urge Kerala Govt not to impose additional sales tax on IMFL

New Delhi, May 17 () Liquor makers have urged the Kerala government to not impose additional sales taxes on the Indian made foreign liquor (IMFL) which already attracts steep levies of up to 240 per cent in the state. In a letter to the Kerala government, the Federation of Alcohol Beverage Producers (India) has noted that IMFL is paying high taxes of up to 240 per cent in Kerala in comparison to imported liquor which is taxed at 88 per cent. "As a result, a product of same quality sells at Rs 2,600 if made in India compared to Rs 1,600 if imported," said the association in a letter to the state government. The association further said that the state government is expected to impose an additional sales tax of 35 per cent on IMFL, and not on imported liquor. "This is in our view is taking the matter to bizarre proportions. Just to give you a reference after this the tax difference between the two will go to an incredible 189 per cent. Instead of rectifying the error, the Government is further compounding it," the association's Director-General Vinod Giri said. Recently, several state governments imposed additional taxes on liquor while allowing sales in the third phase of the lockdown. Liquor sales remained suspended for more than 40 days in the first two phases of the lockdown to contain coronavirus panedmic, hitting state revenue. "We reiterate our earnest request to review the Excise Policy of Kerala and issue necessary amendments to remove blatant discrimination in favour of imported products," the association said. Earlier, alcoholic beverages industry bodies had said that levy of additional taxes on liquor by several state governments, as high as 75 per cent, will be counterproductive in the long run. States like Andhra Pradesh, Delhi and West Bengal have imposed 75 per cent, 70 per cent and 40 per cent additional levy respectively on liquor, which resumed window sales from May 4 after a gap of almost 40 days in during the ongoing lockdown. KRH MRMRMR

Liquor makers urges Kerala Govt not to impose additional sales tax on IMFL

New Delhi, May 7 () Liquor makers have urged the Delhi government to withdraw 70 per cent additional tax imposed on liquor in the city, calling the move 'counterproductive'. The price increase, after the demand surge is over, would lead to decline in sales and also encourage illegal supply from neighbouring states, having lower price, the Confederation of Indian Alcoholic Beverage Companies (CIABC) said in a letter to Delhi government. "In our understanding this decision may perhaps have either or both of two objectives – one to raise more revenues for the government and two, to manage crowd at liquor outlets," CIABC Director General Vinod Giri said. "It is our humble view that this decision may prove to be counterproductive and suboptimal for both objectives as explained below," he added. Once the initial surge of panic purchase is over, this kind of price increase will have strong adverse effect on sales in Delhi, he said. "It will be further compounded by free flow of unlawful liquor from neighbouring states which have much lower prices. Such drastic price increase cannot sustain demand in Delhi, especially with cheaper options available across the border, and will actually be counterproductive," the association said. It asked that the 70 per cent tax be "treated, at best, as a very short term measure". "We, therefore, request you to kindly withdraw 70 per cent cess as early as possible," CIABC said. The Delhi government had imposed a 70 per cent special coronavirus fees on sale of liquor on the maximum retail price from May 5. According to the association, barely 50 of the 800 liquor retail outlets in the city were fully operational on the first two days after sale of liquor was allowed during the lockdown. Besides, all the bars in the cities are shut due to the coronavirus pandemic. CIABC suggested increasing the number of liquor shops immediately by allowing opening of all shops outside containment zones on the basis of self verification and those in malls which have independent entrances. Besides, it has asked to allow bars to sell liquor as they have unsold stock which will help in improving product availability. It has also suggested to allow online sales to keep crowd away from shops and to reduce human contact during the lockdown period. "Chhattisgarh, West Bengal and Punjab have already passed orders for such systems. Based on experiences elsewhere in the world, this can take 15-20 per cent customers away from shops. This is also more robust process where product can be traced from warehouse to the customer electronically," it said. KRH RVK

Liquor makers urges Delhi government to withdraw 70 pc additional tax 

The <keyword id="68884" type="General" weightage="100" keywordseo="telangana" source="Orion">Telangana</keyword> government has increased the <keyword id="6356212" type="General" weightage="20" keywordseo="liquor" source="Orion">liquor</keyword> prices by 20 to 25 per cent to mop up revenues. Prices of all brands of liquor were hiked and this is expected to help the government generate additional revenues of Rs 6,000 crore to Rs 7,000 crore annually. The state had earned Rs 30,000 crore from liquor sales in 2021-22 with the tax income reported at Rs 12,000 crore The authorities have increased the price of 1,000 ml liquor by Rs 120. The price has gone up to Rs 615 from Rs 495 earlier. The price of a quarter bottle has been hiked by Rs 20. On all types of beer, there was a minimum hike of Rs 10 per bottle. The new prices will come into effect from Thursday. The excise officials checked the liquor stocks at wine shops, bars and pubs on Wednesday night after the day's sales came to an end. The available stocks will be sold at new rates from Thursday. The liquor prices have been hiked for the first time since liquor policy 2021-23 came into effect. Liquor prices were last hiked in the state in May 2020 soon after the first phase of Covid-19 lockdown. This has come at a time when the state is facing a fund crunch to continue its welfare schemes as the Centre has tightened norms on loans and market borrowings. This is the latest in a series of measures taken by the state government to mop its revenues. It recently hiked market value of lands, property registration charges, bus fares and electricity charges. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/ways-to-save-more-money-after-your-monthly-expenses/articleshow/91650065.cms">Ways to save more money after your monthly expenses</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/investment/news/top-9-types-of-nfts-heres-the-complete-list/slidelist/91643024.cms">Crypto 101 – Understanding the different types of NFTs</a>

Telangana hikes liquor prices by 20-25% to increase state revenues

<ul class="summary-list"><li>"Sin <keyword id="11898253" type="UNKNOWN" weightage="60" keywordseo="taxes" source="Orion">taxes</keyword>" are mostly paid by those struggling the most economically, according to a new paper.</li><li>Just 10% of households pay roughly 80% of the taxes on goods like alcohol, cigarettes, and soda.</li></ul>"Sin taxes" helped wean the US off of some bad habits. They now leave a small group of less educated and low-earning Americans with most of the bill.The US has a long history of taxing vices, with Alexander Hamilton proposing to tax alcohol in the <a href="https://guides.loc.gov/federalist-papers/text-21-30">Federalist Papers</a>. Today, these sin taxes cover goods like liquor and tobacco as well as more modern indulgences like soda. Modern sin taxes aim to raise the price of undesirable goods and services, nudging consumers away from them to boost overall public health.They're growing, too. The median tax on cigarettes more than quadrupled from 2000 to 2021, and House Democrats proposed doubling the federal tax on cigarettes in their 2021 reconciliation package.Yet rising <keyword id="13024691" type="UNKNOWN" weightage="60" keywordseo="sin-tax" source="Orion">sin tax</keyword>es might not be the easy moneymaker politicians hoped for. Just 10% of households account for 80% of sin tax revenue, according to a <a href="https://www.nber.org/papers/w29393">paper</a> from economists Christopher Conlon, Yinan Wang, and Nirupama Rao published by the <keyword id="12380325" type="UNKNOWN" weightage="60" keywordseo="national-bureau-of-economic-research" source="Orion">National Bureau of Economic Research</keyword>. The taxes might not target specific income groups, but the people stuck paying them are largely those who can least afford them."Saying 'sin taxes are regressive' or 'sin taxes are progressive' largely misses the point," the team said. "There is much more variation among households within income groups than across them in purchases of sin goods."The group studied clusters of people who pay the most in sin taxes, ranging from those who spend on only alcohol, cigarettes, or sugary drinks to those who spend on all of them. Households in the "everything" and "smokers" clusters already pay 1.5% to 2% of their yearly income in sin taxes, according to the paper. They're also much more likely be from the lowest levels of income and education, as well as in the 55 to 64 age range.These two clusters alone pay 68% of the country's sin taxes, yet they only comprise 8% of US households, according to the paper. Before hiking tax rates higher, policymakers should consider whether higher rates would actually cut down on the purchases of such goods, or if they'd simply place an even larger economic drag on an already disadvantaged group, the team said.<h2>Heavy drinkers pose another sin-tax problem</h2>The paper also noted that not all sin-tax payers are low earners or poorly educated. The cluster of non-smoking "heavy drinkers," is disproportionately comprised of people from the highest income and education groups, according to the economists.Yet this group's habits create another problem for policymakers. The cluster and the "everything" group should be the source of the most external damage like drunk driving or domestic abuse, since alcohol consumption is closely tied to these negative events. Put simply, the idea is that higher taxes on alcohol lead to lower levels of drinking, which should have pretty good social outcomes.But targeting alcohol taxes is a bit trickier than taxes on other vices. Where heavy drinkers tend to buy alcohol in many forms, those in the "everything" group tend to buy mostly wine and beer.The diversity of alcohol sources purchased by heavy drinkers throws a wrench in policymakers' aim to curb consumption, the team said. The government's policy of taxing distilled spirits at a higher rate than beer and wine might work in areas where the heaviest drinkers mainly buy spirits, but the policy is far less effective in areas where they'll purchase alcohol in a range of forms. It also makes it harder to increase sin taxes on products preferred by people with the highest chance of enacting external damage, they added.Raising sin taxes, then, isn't as simple as politicians often make it out to be. The policies affect only a small sliver of the US population, and many in that group face overlapping burdens from a variety of sin taxes. And despite being created to cut down on dangerous behavior, gaps in the policy could keep the taxes from accomplishing that very goal.

You Searched For "liquor tax" and got 11 results

Tesla sells out of its most expensive liquor yet a $450 bottle of mezcal

Ana Altchek

I saved $1,000 a month when I cut alcohol. The emotional and physical tax was just as expensive.

Tess Martinelli

Liquor sales touches Rs 600 cr-mark during 4 days of Durga pooja festivities in Bengal

IANS

Uttarakhand imposes healthcare tax on liquor

PTI

The winner of the $1.76bn Powerball jackpot may only get $575 million after taxes if they take the lump-sum option

Sophia Ankel

Liquor makers urge Bengal govt to reduce 30pc sales tax

PTI

Liquor makers urge Kerala Govt not to impose additional sales tax on IMFL

PTI

Liquor makers urges Kerala Govt not to impose additional sales tax on IMFL

PTI

Liquor makers urges Delhi government to withdraw 70 pc additional tax

PTI

Telangana hikes liquor prices by 20-25% to increase state revenues

IANS

'Sin taxes' are meant to push people away from booze and cigarettes, but they mostly hit those who can least afford to pay

Ben Winck

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