So here we are again. In June, our legislature passed a budget with a $500 million hole in it and some estimates point to a 2011 budget shortfall in excess of $4 billion. The situation looks pretty bleak, but it is not hopeless. If we are serious about putting our financial house in order, and making our state a healthier place, we should increase our cigarette tax by at least $1 or more as soon as the legislature comes back into session in January. In case you are counting, increasing the cigarette tax by $1 per pack will raise an additional $366 million in the first year and bring North Carolina’s cigarette tax to the current national average of $ 1.45. [Continue Reading...]