Philip Morris - A Stock For Wealth Or Poverty (MO) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Philip Morris - A Stock For Wealth Or Poverty (MO)

MO 58.69

+0.6%

Nov 26 3:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Ralph Bergmann who wrote (4947)	10/28/1999 6:16:00 PM
From: James R. Barrett	Read Replies (2) of 6439

The biggest threat to the tobacco companies right now is the pending Federal suit, not the Florida suit. The justice dept. wants the tobacco companies to pick up the $20 billion per year tab for medicaid costs for "sick" smokers. I think this suit is for present and future costs, not previous costs. Which means the $20 billion/year extortion can go on forever. $20 billion X 25 years = $500 billion. There is no way the companies could raise prices that much to cover these charges. One thing that I don't think will happen is FDA control of cigarettes. If the FDA determines that cigarettes should be classified as a drug and can only be purchased by prescription is a catch 22 situation. Prescription drugs can't be TAXED. This would be a big break for smokers but not for state and federal tax coffers.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next