A sin tax is leveraged by the government on the harmful products like alcohol, tobacco, gambling, cigarettes etc which cannot be used recklessly by individuals as their own property.
What is Sin tax?
A sin tax is an excise tax which is imposed on the harmful goods like cigarettes, alcohol, tobacco etc to discourage the immense consumption of these goods. A sin tax is relatively a higher tax and these products cannot be produced in individual properties.
The purpose of the sin tax is to discourage the production and consumption of harmful products in the society.
Therefore, a sin tax discourages the production of harmful products in the community.
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