Schip is Signed. Cigars will be going up in Price

WASHINGTON – President Barack Obama sees expansion of government health insurance to millions of lower-income children as a first step of several to come in providing coverage for all Americans.

Ending a two-year effort by Democrats, Obama signed legislation Wednesday that will allow about 7 million children to continue coverage through the State Children's Health Insurance Program and allow an additional 4 million to sign up.

Now what they don't say is how it is funded, with your cigar/tobacco buying dollars!!!

February 4, 2009- Following a long, drawn-out political fight started in 2007, President Obama signed into law the State Children's Health Insurance Program (SCHIP) renewal and expansion bill. In order to avoid further delay, the House of Representatives voted to accept the Senate's amendment to the SCHIP bill.

SCHIP Signed into Law by President

Large Cigars Capped at 40.26 cents per cigar

Legislation Takes Effect April 1, 2009

The new federal excise tax rates to take affect April 1, 2009 are as follows:

cigarettes $1.0066/pack
Large cigars 52.75% (capped at 40.26 cents per cigar)
Snuff $1.51/lb.
Chew $.5033 cents/lb.
Pipe tobacco $2.8311/lb.
RYO $24.78/lb.
Little cigars $50.00/1,000

Please remember: the cigar tax cap remains in this legislation! 40.26 cents per stick!

Important: This is a federal, manufacturer's and importers excise tax on tobacco.

Also there is a floor tax on little cigars and other tobacco products such as RYO. So retailers that have inventory of these will have to pay taxes on it. This is such bs, the tax increase on these tobacco products can not even come close to funding the bill. With their own numbers they admit we would need 2.2 million more smokers the first year to completely fund this piece of crap, I mean legislation. Get ready for more taxes on everything and socialized health care. Good God I need a smoke.
kp