Government Bans Low Prices
New York City store manager Kamel Saleh was hit by thousands of dollars in fines recently. His crime? Selling tobacco too cheaply! Turns out he sold three cigars for $8.89, which was 11 cents too cheap, according to city government.
John Stossel reports that NYC has set a standard price floor on tobacco, thanks to Kurt Ribisl, professor of health behavior at the University of North Carolina. And now, in addition to the cigar prices, a pack of cigarettes skyrocketed to $13. Why do people like Ribisl get to decide? Here’s some answers from Stossel’s report.