Posted on 09/16/2017 10:55:56 AM PDT by DFG
Los Angeles is scrambling to make sure the City of Angeles soon starts collecting at least $50 million a year as the world’s top spot to buy recreational marijuana. The countdown clock is ticking down to January 2, 2018, when California joins Nevada, Colorado, Washington, Oregon, Massachusetts, Alaska and Washington DC as locations to legally buy marijuana for recreational use.
California state bureaucrats and politicians are almost giddy over the $1.8 billion in annual tax revenue that the New Frontier Financials expects the state will collect from its 15 percent excise and dry-weight taxes on “weed.”
But many of California’s 58 counties and 482 cities are also competing to cash in on the recreational marijuana bonanza by tacking on a local sin sales tax of up to 25 percent of purchase price. Cities including Tulare, Coalinga, Del Rey Oaks, and others have stated that they will use local marijuana tax collections to pay for rapidly increasing public pension contributions that are threatening their solvency.
(Excerpt) Read more at breitbart.com ...
Estimates may not reflect the ultimate reality.
Why do moonshiners still exist?
The higher the taxes the bigger illegal sales.
Taxes all paid in cash?
The inability of Banksters to take pot-related bidness deposits must be good for the laundry industry...
Add Arizona and a few other states to that list in the near future...
Your post nailed it right out of the gate.
the sedation of the lower orders begins. our brave new world has begun.
and nobody cares.
Sure there be $50million in marijuana tax revenues. The dope smokers would never think about smoking non taxed weed, that would be illegal.
MJ taxes will be just like gas taxes that don’t go to roads.
People will just drive out of town for their weed. It takes a liberal to not know this.
And people will start buying black market MJ.
East Coast cigarette smokers would never think about smoking non taxed cigs, that would be illegal.
Fixed it.
Naw, that happened when Prohibition ended.
LA Expects a lot of things that never come true guess it’s why Ca is 2 trillion in debt day light has been shut off to them years ago.
yeah, the end of that 13 year hiccup in human history changed everything.
alcohol existed legally for a millennium before prohibition, and it existed nearly unfettered during prohibition.
So enough money to fix maybe 100 pot holes
Marijuana existed legally for a millennium before 1937, and it exists nearly unfettered under today's federal laws.
ah. gotcha. you’re pro-dope. probably a libertarian, and maybe even a single issue voter - any agenda is fine as long as you get your pot.
they’re the only zealots that still try to push the alcohol argument.
pot is your God. I get it. it’s all about getting your grass.
The makings of a truly green economy and budding utopia.
?? Or a smokescreen to spend even more on frivolities?
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