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Yes, an all out ban is foolish, there are smarter ways to deal with it.

Why not slap a significant tax on alcohol advertising just as we do with alcohol sales?

The taxes on alcohol are already quite high; vice taxes are good politics.

I am all for a complete ban on alcohol ads, even if it seems about as likely to happen as a ban on car ads.

Indeed why not. Yet another possibility: remove copyright restrictions on any work featuring alcohol or an alcohol brand.