In your opinion do you think it was the right decision to increase excise taxes?

Question: In your opinion do you think it was the right decision to increase excise taxes?

In my opinion, the decision to increase excise taxes was not the right one. Excise taxes are taxes on specific goods or services, such as alcohol, tobacco, or gasoline. They are often used to discourage consumption of these goods or services, or to raise revenue for public spending. However, excise taxes also have negative effects on the economy and society. They increase the prices of the taxed goods or services, which reduces the purchasing power of consumers and lowers their welfare. They also create distortions in the market, as consumers may switch to cheaper or untaxed substitutes, or buy from illegal sources. Moreover, excise taxes are regressive, meaning that they impose a higher burden on low-income households than on high-income households. Therefore, I think that increasing excise taxes was a wrong decision that harmed the economy and the society.