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Uncle Sam Collecting on 'Sin'

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  • Description

    FBN’s Lou Dobbs breaks down the government tax bills paid by the sin industries.

  • Duration 3:20
  • Date

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This transcript is automatically generated

All day long here on Fox Business we've been looking at the business -- vice.

Throughout the day the Fox Business Network has taken a look at everything from alcohol and tobacco to pornography gambling.

Business is booming in this country -- or vice percent the pornography industry for example estimated to be a thirteen billion dollar industry.

Thirteen billion dollars and of course from business' profits so does the government and I would like to assure you just at least that's what they Telesis going on.

We'd -- to show you just how dependent both of federal and state governments have become -- So called sin tax you've probably heard the sequestered cuts.

Go after about 44 billion dollars in this fiscal year.

Let me give you a sense of this sin taxes on tobacco.

And alcohol and gaming gambling lotteries.

Generated together.

75.

Billion.

Dollars.

Compared to.

Sequester.

The sin taxes are doing very powerful job.

That is in federal state and local revenues.

-- two states through states have legalized -- recreational use of marijuana they are Colorado.

And Washington.

Colorado -- more than five million dollars in sales.

Five million dollars in sales from dispensaries pot dispensaries marijuana.

And Washington is reportedly collected some -- 750000.

Dollars in taxes.

Although they've been having trouble getting dispensaries registered with the state.

It's affecting their revenue.

Pot smokers procrastinate.

It's hard to imagine as it.

Well regarding -- thirteen billion dollar.

Pornography industry thirteen billion.

California.

-- is earning about 36 million dollars a year just in revenue from the porn industry it's worth about a billion dollars overall.

To the economy.

Just in Southern California.

And while we're on the subject of sex in addition to -- sin taxes some states are actually living.

Well imposing skin taxes a new law in Illinois -- requiring.

-- actually strip club operators to impose a three dollar three dollar.

And charge for their customers the tax is expected to raise a million dollars annually Texas Texas is also got us and but it's it's a little different -- -- bigger deal in Texas apparently they got five box.

And they're gonna just about ten times as much revenue.

As the state of Illinois Nevada by the way is the only state in the country as you probably know -- allow.

Any form of prostitution.

Legal it doesn't collect the tax from prostitution itself.

But it did bid it would reportedly -- nearly a 150 million dollars for the state and of that.

Regardless of whether and I think sin taxes are good or bad public policy there is no denying that sin is generating an enormous amount.

Of want government seems -- like most.

Revenues.

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