Following up on my post about NY Times reporter and CNBC host Andrew Ross Sorkin’s advocacy for forcing banks and credit card companies to track purchases of firearms products. This template was developed for the tobacco companies and can be replicated.
Progressives’ plan here is to hassle any organization that handles firearms and ammunition — manufacturers, distributors, etc — into an arrangement similar to what the tobacco industry entered into in 1998.
The Tobacco Master Settlement Agreement (MSA) was entered in November 1998, originally between the four largest United States tobacco companies (Philip Morris Inc., R. J. Reynolds, Brown & Williamson and Lorillard – the “original participating manufacturers”, referred to as the “Majors”) and the attorneys general of 46 states. The states settled their Medicaid lawsuits against the tobacco industry for recovery of their tobacco-related health-care costs.:25 In exchange, the companies agreed to curtail or cease certain tobacco marketing practices, as well as to pay, in perpetuity, various annual payments to the states to compensate them for some of the medical costs of caring for persons with smoking-related illnesses.
This scheme enriched lawyers, created an industry cartel among large tobacco companies, and provided a revenue stream to state governments. State governments then issued bonds backed by the revenue from the settlement. This had the perverse incentive to increase support of the tobacco industry, on whom states are now dependent for future payments against this debt. Of course, it raised taxes on the product and hit lower income smokers hardest.
Boycott the NY Times, CNBC, and their advertisers.