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Governor: Colorado pot market exceeds tax hopes
Associated Press ^ | Feb. 19, 2014 5:50 PM EST | Kristen Wyatt

Posted on 02/20/2014 1:30:51 PM PST by Olog-hai

Colorado’s 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. Colorado’s 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 ...


TOPICS: Business/Economy; Government; News/Current Events; US: Colorado
KEYWORDS: johnhickenlooper; marihuana; marijuana; potheads; soma; taxandspend

1 posted on 02/20/2014 1:30:52 PM PST by Olog-hai
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To: Olog-hai

Alkyhaul serves as a good model for taxing peeps as they get the things they want.


2 posted on 02/20/2014 1:34:55 PM PST by Paladin2
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To: Olog-hai

What a plan:

Tax the selling of dope to citizens as a way to finance expansion of the welfare stste.


3 posted on 02/20/2014 1:36:12 PM PST by Iron Munro ("Show me the man, and I'll show you the crime." - Lavrentiy Beria (& Eric Holder))
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To: Paladin2
Same with two-backhoe, but they suddenly want to try banning that.
4 posted on 02/20/2014 1:36:45 PM PST by Olog-hai
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To: Olog-hai

‘Rats are nothing if not conflicted.


5 posted on 02/20/2014 1:40:32 PM PST by Paladin2
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To: Olog-hai

What’d they do, lite up a joint to celebrate all the new money they can spend double of?


6 posted on 02/20/2014 1:42:12 PM PST by Abathar (Proudly posting without reading the article carefully since 2004)
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To: Olog-hai

Hippie TaxemLooper..... from green leaves to green paper for their beloved statists. They can’t tax lieberals enough as far as I’m concerned.


7 posted on 02/20/2014 1:43:10 PM PST by tflabo (Truth or Tyranny)
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To: Olog-hai
Gov. John Hickenlooper that gives the first official estimate of how much the state expects to make from pot taxes.

"the state"

pot heads and other medicated morons are putty in the hands of "the state"

FReedumb ALERT!

8 posted on 02/20/2014 1:43:26 PM PST by PGalt
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To: Olog-hai

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.


9 posted on 02/20/2014 1:44:15 PM PST by BatGuano (You don't think I'd go into combat with loose change in my pocket, do ya?)
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To: Abathar

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.


10 posted on 02/20/2014 1:48:42 PM PST by tflabo (Truth or Tyranny)
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To: Olog-hai

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.


11 posted on 02/20/2014 1:50:45 PM PST by SpaceBar
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To: Olog-hai

Just watch what happens when you can buy pot with EBT cards and Obamacare subsidies.


12 posted on 02/20/2014 2:00:30 PM PST by Organic Panic
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To: Olog-hai
Colorado’s legal marijuana market is far exceeding tax expectations

Look for the remainder of the states to become "enlightened" with respect to marijuana sales in short order.

13 posted on 02/20/2014 2:01:20 PM PST by Hardastarboard (The question of our age is whether a majority of Americans can and will vote us all into slavery.)
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To: Olog-hai
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.

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!

14 posted on 02/20/2014 2:03:01 PM PST by Mastador1 (I'll take a bad dog over a good politician any day!)
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To: BatGuano

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.


15 posted on 02/20/2014 2:09:36 PM PST by Tulane
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To: tflabo

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?...”


16 posted on 02/20/2014 2:11:25 PM PST by Abathar (Proudly posting without reading the article carefully since 2004)
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To: Olog-hai

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.


17 posted on 02/20/2014 2:14:20 PM PST by Uncle Chip
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To: Olog-hai

1 Timothy 6:10

King James Version (KJV)

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.

18 posted on 02/20/2014 2:15:16 PM PST by Bratch
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To: Olog-hai

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.


19 posted on 02/20/2014 2:19:29 PM PST by mountainlion
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To: Bratch

So I’m right with Jesus for being broke?


20 posted on 02/20/2014 2:30:34 PM PST by bicyclerepair (TERM LIMITS .......... TERM LIMITS .......... TERM LIMITS)
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To: Olog-hai
I was out there skiing last week (Breckenridge) and came across a lot of kids (mid 20's / 30's) who were stoned to bejesus.

One night I bought a bottle of wine that came to $24.99 and this (white) kid with his hair in dreads and one of those bun hats holding the dreads was working the counter. When I gave him a $100 bill to pay for the bottle - he goes (all Jeff Spicoli like)"ohwhoaaa" - ok"....I laughed a little because I knew he was hard pressed to figure out the change (the register was opened and he didn't ring me up). Before taking the money out of the register, he asks me "do you have 60 cents?" I'm thinking to myself, this guy is on another planet right now, what the heck does he need 60 cents for as a part to make my change!?

Pretty funny but I tell him "no, I have no change on me" he then proceeds to count my bills and I think he was seeing trails on each bill as he was handing them to me. He was able to get it right but I counted it twice to make sure and walked out of the store laughing to myself.

I can't help but think that store is gonna see some losses and, there are many more like this one that have employees like this.

21 posted on 02/20/2014 2:38:22 PM PST by capydick (''Life's tough.......it's even tougher if you're stupid.'')
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To: bicyclerepair

It says the love of money, which is coveting.


22 posted on 02/20/2014 3:08:15 PM PST by crusty old prospector
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To: Olog-hai

And proves that it should be simple enough to destroy the Cartels main source of revenue, reduce violence and rid our forests and parks from the deadly toxins and booby traps of their vile operations...


23 posted on 02/20/2014 3:12:00 PM PST by Vendome (Don't take life so seriously-you won't live through it anyway-Enjoy Yourself ala Louis Prima)
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To: BatGuano

Same laws apply to pot as they do to AlkeeHaul.

Over 21 and valid picture I.D.

Kids will get pot on a level they get alcohol.


24 posted on 02/20/2014 3:14:11 PM PST by Vendome (Don't take life so seriously-you won't live through it anyway-Enjoy Yourself ala Louis Prima)
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To: Olog-hai

Being the obnoxious guy I am, If I lived there, I’d grow some, just to not pay taxes by buying it.


25 posted on 02/20/2014 3:31:56 PM PST by ImJustAnotherOkie (zerogottago)
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To: Vendome

True, but you can be fired for going to work with alcohol in your system. That cannot be done with pot, since it stays so much longer. Getting canned cuz you smoked a legal joint a week ago will not fly.


26 posted on 02/20/2014 3:57:33 PM PST by ozaukeemom (Is there even a republic left?)
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To: ozaukeemom

“... you can be fired for going to work with alcohol in your system.
That cannot be done with pot ...”
-
I know businesses that do random tests for nicotine,
and if they find it in your system, you are fired on the spot.


27 posted on 02/20/2014 4:06:20 PM PST by Repeal The 17th (We have met the enemy and he is us.)
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To: Repeal The 17th

Wow! How does nicotine affect the ability to do any job? The only one I can think of is in the case of withdrawal. That is insane and this comes from an avid anti-tobacco person, is a legal substance. If I were to be fired for having caffeine in my system, it would be as ridiculous.
Alcohol and pot can affect behavior and actions and reflexes etc.


28 posted on 02/20/2014 5:47:14 PM PST by ozaukeemom (Is there even a republic left?)
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To: ozaukeemom

Simple.
The companies made deals with their health insurance providers for lower premiums
and they made “no-nicotine” a condition of employment.
Smoke, chew, dip, chew nicotine gum, wear a patch, use an E-cig...
...you’re outta there.


29 posted on 02/20/2014 5:51:55 PM PST by Repeal The 17th (We have met the enemy and he is us.)
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To: ozaukeemom

Actually, employers are still drug testing, and the presence of marijuana will cause you to “fail” the test. So, yes, currently if you come to work intoxicated on marijuana, you can be fired or not given a job for testing positive for it.


30 posted on 02/20/2014 7:24:59 PM PST by ican'tbelieveit
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To: ican'tbelieveit

So, in a state where it is legal, they can still fire you? Wonder when the first law suit will happen? Alcohol doesn’t stay in your system as long (but for drinking watching a basketball game and testing positive the next day, you can be canned). A good friend of mine had that happen years ago. She could not believe it. She was an admin assistant! But, with pot, how will that work? Is there a specific reading like with alcohol? Mmmm
I don’t smoke pot, hate it, but if it is legal, you can afford it and you are not affecting anyone else, well, enjoy. But, like in the case of nicotine, mentioned above, it may prove problematic.


31 posted on 02/20/2014 7:50:24 PM PST by ozaukeemom (Is there even a republic left?)
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To: Organic Panic

“Just watch what happens when you can buy pot with EBT cards and Obamacare subsidies.”

Gen 1:29 - Then God said, “I give you every seed-bearing plant on the face of the whole earth and every tree that has fruit with seed in it. They will be yours for food.

Well, if it’s ok with The Big Guy...


32 posted on 02/20/2014 8:11:13 PM PST by Birdsbane ("Onward through the fog!" ... Oat Willie)
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To: Birdsbane

OR as Rverend Lovejoy (The Simpsons) says, “once something has been approved by government, it’s no longer immoral.”


33 posted on 02/21/2014 10:31:54 AM PST by Organic Panic
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