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PHILIP MORRIS COMPANIES INC . INTER-OFFICE CoIRRESPC)NDF,NCE

TO :

Distribution

FROM: Bruce S . Brown

SUBJECT :

-,'•onomic S ud of tionokin

120 PARKAVENUE, NEW YORK 10017-559i

DATE : June 2, 1995

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 .

BSB :dtm

Enclosure

[1689D]

Di Arib tu ion

Bruce S. Brown

Thomas Collamore Murray H . Bring Barry Holt Roy Marden Ellen Merlo David Nicoli Steven Parrish

0

Robert Reese

~

Hans G. Storr

t.i ao

Charles Wall

r,o

rs

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