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In this video, the concept of excise taxes is discussed. Excise taxes are specific taxes imposed on certain goods and services, not a broad tax like sales tax. Common items subject to excise taxes include fuel, alcohol, cigarettes, air travel, and phone service. These taxes can be quite high, such as a federal excise tax of $1.00 per pack of cigarettes. It's important to note that excise taxes can be imposed at the federal or state level.
