Skip to comments.Governor: Colorado pot market exceeds tax hopes
Posted on 02/20/2014 1:30:51 PM PST by Olog-hai
Colorados legal marijuana market is far exceeding tax expectations, according to a budget proposal released Wednesday by Gov. John Hickenlooper that gives the first official estimate of how much the state expects to make from pot taxes.
The proposal outlines plans to spend some $99 million next fiscal year on substance abuse prevention, youth marijuana use prevention and other priorities. The money would come from a statewide 12.9 percent sales tax on recreational pot. Colorados total pot sales next fiscal year were estimated to be about $610 million.
Retail sales began Jan. 1 in Colorado. Sales have been strong, though exact figures for January sales won't be made public until early next month.
The governor predicted sales and excise taxes next fiscal year would produce some $98 million, well above a $70 million annual estimate given to voters when they approved the pot taxes last year. The governor also includes taxes from medical pot, which are subject only to the statewide 2.9 percent sales tax.
(Excerpt) Read more at bigstory.ap.org ...
Alkyhaul serves as a good model for taxing peeps as they get the things they want.
What a plan:
Tax the selling of dope to citizens as a way to finance expansion of the welfare stste.
‘Rats are nothing if not conflicted.
What’d they do, lite up a joint to celebrate all the new money they can spend double of?
Hippie TaxemLooper..... from green leaves to green paper for their beloved statists. They can’t tax lieberals enough as far as I’m concerned.
pot heads and other medicated morons are putty in the hands of "the state"
These “hopes” will crash and burn when the idiots of Colorado realize what the dope has done to their kids and the cost of rehab and lost work time. They will ask “Why and What were we thinking”? Sooner rather than later. Selling out to the government’s hunger for tax revenues was a stupid thing to do.
Their state tax revenues will go up and high along with the disappearing reefer smoke. Those idiots will be growing their own pot soon enough—then the tax police will come a calling. its right back where they started eventually.
The state legislators of Colorado are hoping that by earmarking large sums to altruistic sounding anti-abuse programs, they won’t be prosecuted for laundering the proceeds from the sale of a Schedule 1 controlled substance under federal law. They saw “sanctuary cities” remain unmolested despite their illegality, and think this will be similar. Likewise, if financial institutions so much as touch a single cent, they become vulnerable to legal prosecution as well, subject to the momentary whims of politicians.
Just watch what happens when you can buy pot with EBT cards and Obamacare subsidies.
Look for the remainder of the states to become "enlightened" with respect to marijuana sales in short order.
Wow, tax drug sales to fund anti drug programs, hypocrisy much? Kind of like taxing cigarette sales to fund anti smoking and children's health programs and then making it illegal to smoke almost everywhere!
They will NEVER ask what they were thinking. Instead, they will double down...encourage more government dependency, single parenthood and market manipulation. They will blame future problems the same way the blame current ones- on Republicans, the propsperous, and individualism.
That will never change, my friend.
Exactly, with this kind of money fake tax stamps will be a hot commodity in CO after the growing season starts.
I can see the cops now - “You got da receipt for that joint punk?...”
Wait until you see the bureaucracy they will grow off of that revenue — weed inspectors, THC monitors, smoke detectors, quality control testers, marijuana police, cannabis professors,... and then all the new agents and prosecutors to deal with black marketers and smugglers.
$100 million won’t be nearly enough — this will be interesting to watch.
10 For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows.
But Chickenpooper will have to raise taxes to build the roads destroyed by the floods and of course the $2B in welfare to illegals will not be touched so they will have to raise taxes “for the Kids” for schools.
So I’m right with Jesus for being broke?