PHILIP MORRIS COMPANIES INC .

INTER-OFFICE CoIRRESPC)NDF,NCE
120 PARKAVENUE, NEW YORK 10017-559i

TO:

Distribution

DATE : June 2, 1995

FROM: Bruce S . Brown

SUBJECT :

-,'onomic S ud of tionokin

Enclosed, for your information, is Tax 1'ojicv and the ac~cmv, a publication
of the National Bureau of Economic Research, an organization which we have
supported . 't'he publication contains an article . "Cigarette Taxation and the Social
Consequences of Smoking," by W . Kip Viscusi, a professor at Duke . The article,
based on a paper he recently presented at an annual NBER conference in
Washington . D .C ., concludes that cigarette taxes substantially exceed the so-called
negative externalities of smoking, even if one accepts the very distorted cost
calculations used by the EPA. and other anti smoking groups .

Bruce S . Brown
BSB :dtm
Enclosure
[1689D]
Di Arib tu ion
Thomas Collamore
Murray H . Bring
Barry Holt
Roy Marden
Ellen Merlo
David Nicoli
Steven Parrish
Robert Reese
Hans G . Storr
Charles Wall

http://legacy.library.ucsf.edu/tid/veo37c00/pdf

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