Thulium, I would totally agree with you.. but sadly this particular state has been the perfect example of "over doing" the taxation to "help" people. If what you propose could be achieved. But telling them "add one dollar to the bottle" will mean that each 5ml bottle will cost $20 in NYS and $25 in NYC.
That, IMHO, is why it is important to be proactive about the tax issue. We have an opportunity now to propose the laws that reasonably define electronic cigarettes as a reduced harm tobacco product that should be subject to a reasonable tax.
Here in Oregon the law was recently changed to tax smoke-free tobacco products at 65% of wholesale cost (rather than per 'unit' like cigarettes)--in New York, it is 35%. A bill could be introduced for the stated purpose of "protecting the children from smoking" could simply add "electronic cigarettes" (and supplies) to the definition of smoke-free tobacco products, resulting in them automatically being illegal to sell to children, and have the added bonuses of a new tax revenue stream and legitimization of the market.