Tequila’s Stunning Rise: How It Shot Up in U.S. Popularity
Americans are drinking more and better-quality tequila, and not only in margaritas on Cinco de Mayo.
Tequila sales have been growing at an average rate of 5.6 percent a year since 2002, according to February figures from the Distilled Spirits Council of the United States. In 2014 alone, 13.8 million nine-liter cases were sold.
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The U.S. represents tequila’s largest market, with about 52 percent of global sales. America’s renewed thirst for mixed cocktails has been a boon for spirits overall, but especially for tequila. Meanwhile, sales in Mexico have remained flat largely because the market there is mature, with little room for growth.
The Distilled Spirits Council said that one of the keys to tequila’s U.S. growth has been distillers’ ability to offer a product for every budget and occasion, but the fastest growth has been in high-end and super-premium brands.
“High-end brands have grown 189 percent in volume since 2002,” it noted. “Virtually unknown in 2002, super-premium tequila volumes have skyrocketed 568 percent and today account for 2.4 million 9-liter cases.”
Celebrity endorsements may have also raised the status of tequila. George Clooney, Sean Combs and Justin Timberlake have all promoted tequila brands.
In addition, distillers are trying to boost the popularity of high-end tequilas further by offering tastings and tours — at least one of which is aimed at the super-wealthy.
Tequila Avion, an ultra-premium tequila maker, is offering a $500,000, three-day trip for 10 to Jalisco, Mexico, to taste its spirits and partake of luxury accommodations, butler service and a private dinner among other amenities.
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If that seems a tad pricey, Experience Tequila in Portland, Ore., offers four-day tours to Mexico for just under $1,500, and you can find tequila-tasting classes in many cities for about $100.
Quote of the Day - October 16, 2017
Speaking at a cabinet meeting on Monday, President Trump said:
"Obamacare is finished, it's dead, it's gone ... There is no such thing as Obamacare anymore."
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Poll: Trump Tax Cuts Favor the Wealthy; Deficit Should Be Higher Priority
Trump and the GOP still have work to do if they want to convince Americans that their tax plan won’t mostly help the rich. A CBS News Nation Tracker poll released Sunday finds that 58 percent say the tax reforms being discussed favor the wealthy, while 19 percent say it treats everyone equally and 18 percent say it favors the middle class.
The poll also found that 39 percent say that cutting the deficit should be a priority, even if it means taxes stay the same. About half as many people said cutting taxes should be prioritized even if the deficit rises.
The poll, conducted by YouGov, surveyed 2,371 U.S. adults between October 11 and 13. Its margin of error is 2.5 percent.
Coporate Tax Cut Could Be Phased In
House tax writers (at least some of them) are worried that slashing the corporate tax rate found will push the deficit higher in a hurry – an analysis by the Tax Policy Center found that cutting the rate to the stated goal of 20 percent would cost $2 trillion over a decade. One way to soften the fiscal blow would be to phase in the reduction over three to five years. House Republicans say such an approach would reduce the size of the lost revenue by half.
Larry Summers: GOP Tax Claims Are 'Made-Up'
Former U.S. Treasury Secretary Lawrence Summers isn't happy with the Republican tax plan, and it's not just because he has a different set of ideas as a Democrat. More fundamentally, he says Republicans are making false claims: “When you have -- and I hate to be in a position of using this word about our government -- when you have senior economic officials making claims that are made-up ... it’s very hard to have a dialogue, and compromise, and get to a good place.”
Summers is also worried about the effects of a tax cut for the rich during a time of considerable social turmoil: “There’s a lot of unhappiness and anger out there … It’s really hard to see why focusing a corporate tax cut on those at the very high-end is going to do much to assuage that anger.”
How Much Did Mike Pence’s NFL Walkout Cost Taxpayers?
Vice President Mike Pence’s decision to attend an NFL game between the Indianapolis Colts and San Francisco 49ers yesterday and then leave after some 49ers players kneeled during the national anthem was quickly criticized by some as a planned piece of political theater — and a somewhat expensive one at that. “After all the scandals involving unnecessarily expensive travel by cabinet secretaries, how much taxpayer money was wasted on this stunt?” Rep. Adam Schiff (D-CA) tweeted Sunday afternoon.
The answer, CNN reports, is about $242,500: "According to the Air Force, flying a C-32, the model of plane used for Air Force 2, for one hour costs about $30,000. Pence's flight from Las Vegas to Indianapolis Saturday took about three hours and 20 minutes, so it cost about $100,000. Pence then flew from Indianapolis to Los Angeles on Sunday, which took about four hours and 45 minutes, costing about $142,500."
President Trump defended Pence’s trip, tweeting that it had been “long planned.” CNN also reports that some of the costs of Pence's flight from Indianapolis to Los Angeles will be paid back by the Republican National Committee because the vice president is attending a political event there.