COLORADO: No state has ever generated more tax revenue from marijuana than alcohol—until now.
The Colorado Department of Revenue, according to recently released figures, just brought in $70 million in taxes relating to marijuana, compared to less than $42 million for alcohol taxes, over the course of a year.
This Wednesday, Colorado is declaring a marijuana tax holiday, meaning that for a single day, taxes on marijuana items will be suspended.
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6 comments:
I heard in Maryland they're buying the drug cartels lots of goodies with the marijuana taxes
There is no marijuana tax in Maryland. But more and more marijuana comes from stealthy domestic production, so it's time for the state to get its head out of wherever it is and get the commerce out in the open so that taxation can begin.
The 'other side' of this story is now the Colorado entitlement programs have exploded due to the extremely large number of 'new' Colorado residents. Whole apartment complexes were switched to public housing projects to accommodate the potheads.
The ATM's in the pot shops have a higher percentage of welfare card use than other ATM's. I doubt if they are getting the cash out of the pot shop ATM's and then heading over to the nearest grocery store to buy food.
The list is longer but the bottom line is, when you compare the hidden costs with the revenue, there is very little tax revenue to be made.
Maryland take note.
True. Legalizing a vice in order to create revenue for the government is not ever a good idea. The only real benefit is for the political donor who ends up with the ownership of the venture.
In West Virginia and I'm sure elsewhere, mothers are on their 5th and 6th babies and probably more. The baby barely makes it's first whimper before mom is jumping out of the bed to head down to the SS office to get the baby a SS # so they can apply for benefits for the baby. They use their EBT cards for their vices and then hit up food pantries for food for the kids. The poor kids eat a diet mainly of mac and cheese and peanut butter while mom spends the day hitting the slots.
Tax revenue is not the reason to legalize marijuana, it's exactly like prohibition and should end because it goes against everything the country stands for, FREEDOM. How can you make a PLANT illegal. It's just dumb and a huge waste of resources to fight the stupid 'war' that has had zero effect on the rate of people using drugs. If only sick people use drugs then why get the sheriff involved ? Same thing with the confiscation of money on the highway because it 'might' be used for drugs. All a ruse to invade peaceful people's lives and take their money.
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