tobacco and alcohol advertising in sports

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…remains much room to raise tobacco taxes Because tobacco taxes are not indexed to keep up with inflation, federal and state tobacco taxes fell from 50% of the retail price of cigarettes in 1964, to just over 30% in 1995. Low tobacco taxes have resulted in a financial bonanza for the tobacco industry, which has taken advantage of declining tax rates to boost profits on cigarettes. Total industry profits have skyrocketed from $2.7 billion in 1981 to $6.7 billion in 1984. ------------------------------------------------------------------------ **Bibliography**