The Biden administration’s instinct is always to shoot the stuff first and clean up the unintended consequences later. His example this week – there’s one every week – is to tease regulations to reduce nicotine in cigarettes, followed by a leak of his plan to ban Juul e-cigarettes.
Nobody disputes that tobacco is harmful, especially for young people. But poorly designed regulations can also boomerang. The 1998 state settlement helped Big Four Tobacco companies increase profits and consolidate market share, as our columnist Holman Jenkins noted. Big business loves big government.