Hey, can you handle one more vape post?
What I’ve found here, with the help of Wikipedia, is a news articles that tells us pretty clearly where the ongoing crackdown on vaping is coming from.
June 24, 2014 Yahoo financial posted:
The rapid growth of electronic cigarette sales poses a rising but under-appreciated risk to holders of as much as $96 billion of bonds tied to payments tobacco companies make to U.S. states from a sweeping legal settlement in 1998.
Cigarette consumption has dropped an annual average 3.4 percent since 2000 while many bonds were structured to withstand consumption declines of only 2 to 3 percent.
[A]s smokers swap traditional cigarettes for tobacco-free e-cigarettes and other vaping products, the smoking rate is declining even faster and analysts now predict some bonds could go into default before the end of this decade.
Last year, cigarette shipments dropped by 4.9 percent, the biggest decline since the government passed a federal excise tax in 2009, a drop some blame on the rising popularity of the industry’s new tobacco-free alternatives, such as e-cigarettes.
Wells Fargo Securities predicts the pace at which consumers switch from traditional cigarettes to e-vapor alternatives will surge in the coming years. It estimates that sales volumes for traditional cigarettes in the U.S. will decline by 68 percent over the next 10 years, while vapor cigarette sales will soar by more than 13-fold in the same period.
I live in Missouri, we get $130 million annually, we don’t try to stop smoking and the funds go straight into the state’s general fund. I can’t find any info on if the state sold bonds based on future income from the settlement.
According to the American Lung Association, Missouri takes in $259 million per year in tobacco blood money. That is money from the tobacco settlement and taxes on tobacco. How much does the state spend out-of-pocket on tobacco control? $48,500.
The point being, that our state budget depends on people continuing to smoke cigarettes, and we are not doing much to slow it down. Vaping is a threat to our state budget, just as it is in every state.
So when the Feds or your state move to slow the uptake of vape alternatives to smoking, remember it has nothing to do with health and everything to do with maintaining a smoking pool to keep the revenue flowing. They will appeal to emotion and wail that it is for the children, but that is a red herring, it has everything to do with money.
Black market thc cartridges are the cause of the recent vaping deaths, but government can’t help but use it as an excuse to slow the spread of a nicotine replacement that is 80 to 98% less harmful that smoking.
I’m not usually inclined toward conspiracy theories, but following the money generally points you in the right direction