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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
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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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