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Vaping Destroying Cigarette Industry, Traders Say


#1

VAPING Destroying Cigarette Industry, Traders Say

A TV money expert has highlighted how vaping is destroying the cigarette industry after last week’s drastic drop in shares of key tobacco stocks.
ALI ANDERSON / APRIL 24, 2018 / NEWS & MEDIA


#2

@Mark_Turner


#3

It will be simply “amazing” (a word I nearly refuse use) to see how quickly the the governing bodies move when it comes to replacing/increasing those revenues!


#4

It’s already in place here in Pennsylvania. We currently have a 40% wholesale floor tax (sin tax).
We are working hard to get this repealed.
It literally has put 1/3 or over 100 small business owners out of business.
Sending tax dollars out of Stste with online sales.
The exact opposite effect our beloved Dem. Governor Wolfe had delusionally dreamt about.


#5

Was visiting the family up in York County Pa about a year ago and couldn’t believe all the shops that had closed and how small the selection was in the shops. I guess that’s Harrisburg at its finest for you.


#6

I live in York County, It’s a real shame that the State can’t control their spending. So instead of looking inward and keeping themselves in check and balance. They start levying a preposterous Sin tax.
Without thinking about cause & effect of said Sin tax. Every single person I know has turned to online purchases of vaping hardware. To avoid the 40% wholesale tax. I have a friend that is still treading water as Eliquid manufacturer/reseller. And a have acquaintances that lost everything to the overreaching tax.


#7

@xxanalogxx That, I’m sure, will also come pass.


#8

I find it hilarious that my grandkids may one day refer to me as their Bootlegging Grandfather… a nefarious Nic Dealer! Good Lord people, our ancestors would have been shooting by now. I shake my head…


#9

Sounds like PA is taking lessons from Illinois


#10

Our new Constitution is now established, and has an appearance that promises permanency; but in this world nothing can be said to be certain, except death and taxes.

— Benjamin Franklin, in a letter to Jean-Baptiste Leroy, 1789


#11

Not sure about other parts of the country but in southern Illinois,southern Indiana and Kentucky, I see more smokers than vapers. Most people buy their e liquid around here rather than DIY. It’s very expensive at $25 per 30ml last winter from what a friend said. At that rate, people buy cigs instead


#12

I have a friend in the Chicago area. If memory serves me right your State has levied a 5cent a milliliter end user tax. That tax alone on a 30ml bottle works out to be roughly my total cost to produce a 100ml bottle.
I hate to say it but the end result once again is lost tax revenue. As everyone begins to order online out of State or starts to DIY for themselves.
Nice way to close the doors on a cottage industry of small business owners. No one wins


#13

good but it wont be long before countries like the uk start treating it as a cash cow, i can see fancy bottles and images on packaging being demonized like cigarettes under the guise of protecting the youth


#14

What a mess the state government is up there. I love Pa, one of the most beautiful states I have been too, but I don’t miss it for multiple reasons. Down here in NC, along Tobacco Road, the vape shops seem to be thriving and multiplying, while the tobacco farms are drying up.


#15

I have said all along that is exactly what the FDA BS is all about. Yes they are in bed with big tobacco as well but it is all about the tax revenue at the end of the day.

I was talking about this with the owner of a NEW vape shop near us the other day. He made the statement that everything in his shop was actually in violation of the FDA’s 8/8 date they are pushing for.

As vaping continues to take a bite out of the cigarette industry Governments world wide will be taxing the vaping industry to replace the revenue they are losing.


#16

I was surprised to see the part that said JUUL Industries controls half the e-cig market. I didn’t realize they were that popular.


#17

I have my doubts they control half of the e-cig market but as far as there popularity a google search for juuling will let you know why and it is not a good thing in my personal opinion.


#18

might be a bit hard to setup a vape shop now, the boat kinda sailed a few years back when there were no restrictions they could get away with mostly anything now everything is checked, vetted and has to be approved, people have bought most of their kit and its harder to make a big profit off certain juices and neutered kit for the sake of trying to look like they are trying to be health conscious… then more things are invented. theres a over abundance of B+M shops now where i live nearly every street corner, they seem to be making money but competition must be fierce.