<b>President Obama: 94-cent tax hike on cigarettes</b> <p>Obama proposes 94-cent tax increase on cigarettes.</p> <p>Many anti-tobacco organizations support the idea, however cigarette companies stand against it.</p> <p>According to CNN, the extra funds garnered by this tax hike would go to fund education programs and reduce smoking rates. Over the course of 10 years, it is estimated to bring an income of approximately $78 billion.</p> <p>"Researchers have found that raising taxes on cigarettes significantly reduces consumption, with especially large effects on youth smoking." <div style="text-align:center"><img src="/img_news/obama_cigarettes.jpg" style="border:0;width:500px;height:332px" alt="Obama proposes 94-cent tax increase on cigarettes" /></div>