Businesses that Should be Taxed into Oblivion
My general view of government is that sticks its bureaucratic nose into too much of our personal business. There are exceptions, one of which I was reminded of during a recent visit with my cousin in Chicago. I would like to see the government use more of its taxing authority to drive universally bad businesses – well – mostly out of business.
One example of a business I would burden with oppressive taxes is a tanning bed salon. Tanning under the lights is universally recognized as dangerously unhealthy. Dumb-ass bronzers with skin cancer cost us all money. If they are insured, our premiums are higher to compensate. If they are not insured, we end up paying more taxes and/or higher medical costs to provide the free care.
You might ask if I would be in favor of simply banning the sale and use of all tanning beds. I won’t go that far. I just want the taxes high enough so that the only people who might go to tanning salons are both stupid and rich. Let them fill the tax buckets with huge personal donations while they slowly kill themselves.
There are other businesses I would target, if possible. Any retail store that relies on cigarette sales to survive needs to be gone.
If I could find a way to target the worst 25% of my fellow lawyers with killer taxes, I would. Do I need to explain why? I didn’t think so.
My fellow blogger Kyle at Amateur Asset Allocator also suggested that “junk food” be taxed to death. That would difficult. First, some folks would classify 75% of the products in a typical grocery store as “junk food.” Second, some people would starve to death if they couldn’t eat junk food. That’s harsh, even for Mr. ToughMoneyLove. Also, what would happen to the pharmaceutical industry if we wiped out diabetes?
What would you tax to death?