Wednesday, August 01, 2007

Cigar Industry in Jeopardy?

The Largest Tax Increase on any product in the Entire History of The United States is being seriously considered right now, and it is on CIGARS! YOUR HELP IS URGENTLY NEEDED! The proposed taxes in the current Senate Finance Committee proposal will have a devastating impact on the cigar industry putting retail shops, mail order companies, distributors, cigar manufacturers, leaf tobacco growers and several hundred thousand workers in Central America out of business or out of work. Under the current proposal, the cigar tax rate would increase an astounding 20,413% to a maximum of $10 per cigar! All large cigars would effectively be taxed at 53.13% of the manufacturer's selling price. In all of the Internal Revenue Code, no other product is subject to an excise tax that approaches this level. To compound the injury, a "floor stock" tax would be assessed on all products in inventory, and put a majority of the industry out of business in one fell swoop. We need you to act NOW and immediately contact your U.S. Senators!