Louisville Courier-Journal: Fix Kentucky’s Upside Down Tax Code

And among other things, the legislation would raise Kentucky’s tax on cigarettes and other tobacco products, including e-cigarettes. This would initially generate about $155 million in revenue, but – more importantly – it would discourage tobacco use and reduce associated costs. Kentucky has one of the highest smoking rates and highest rates of lung cancer in the country.

In total, all of these changes would help make Kentucky’s tax system less upside-down than it is today. According to an analysis by the Institute on Taxation and Economic Policy, the bill would maintain or lower what the bottom 60 percent of Kentuckians pay in overall taxes while asking more from those at the top – especially the richest 1 percent – all while helping generate substantial new revenue for crucial public investments. Read more