Posted on 09/16/2015 12:38:53 PM PDT by Wolfie
Colorado Just Became The First State In History To Collect More Taxes From Marijuana Than Alcohol
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.
“Marijuana taxes have been incredibly productive over the past year, so this tax holiday is a much-deserved day off,” Mason Tvert, director of communications for the Marijuana Policy Project, said in a statement. “This will be the one day out of the year when the state won’t generate significant revenue. Over the other 364 days, it will bring in tens of millions of dollars that will be reinvested in our state.”
The total amount Colorado raised in tax revenue during fiscal year 2014 to 2015 was $69,898,059.
Part of the reason why marijuana has completely outpaced alcohol in bringing in revenue is that marijuana users spend much more on the drug than Americans spend on alcohol or tobacco. According to new market research from Marijuana Business Daily, the average amount spent on marijuana in states where the drug is legal is $1,800 per year. Alcohol spending is pegged at only $450 and tobacco at $315, representing a major gap. Americans on average only spend about $602 on personal care products and services, almost a third of what’s spent on marijuana.
The majority of cannabis users use the drug daily. A total of 82 percent of medical users partake daily, compared to 57 percent of recreational users.
“It’s crazy how much revenue our state used to flush down the drain by forcing marijuana sales into the underground market,” Tvert said. “It’s even crazier that so many states are still doing it. Tax revenue is just one of many good reasons to replace marijuana prohibition with a system of regulation.”
greedy basturds!
Imagine how much they could make from gambling and prostitution!
I have tried like hell to maintain the status quo.
Guess I just have to drink more.
I bet crack and meth would do even better.
I’ll drink to that!
Collecting taxes was the REAL reason behind legalizing pot.
Crime, rape, robbery, murder, stolen Doritos ??
If I were a pot head in California I would vote against legalization. Right now pot is readily available under the “medical marijuana” charade. Legalization would only drive up the prices with taxes.
How much money is coming in from out-of-staters? It will be like casinos in the old days when Las Vegas and the reservations had a lock on them and were raking in the bucks. As soon as other states started opening them up, the tax income was diluted.
Colorado has gambling.
Cigarette or cigar smokers get the death penalty but Colorado SUBSIDIZES pot? What a screwed up world we live in.
Collecting taxes was the REAL reason behind legalizing pot.
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With more increases in government spending a close second.
Ahhhh. More taxes and higher spending. A libertardian’s wet dream.
Yes, the poor put upon tobacco user...our prisons are full of them.
Probably not much. I live in Colorado. There hasn’t been as much weed-tourism as people predicted mostly because there’s no place to smoke weed out here. There’s no scene, really.
Coming out here to buy weed would be like coming out here to grill some really good chicken. You can probably buy really good chicken back home if you are quiet about it. You can also grill it right in your own backyard without getting a citation for ‘grilling in public’.
Most of the sales are to local people who take it home. You light up in public out here (light up anything) and you are asking to be publicly lectured by the anti-smoking crowd and possibly cited by police.
crime rate colorado marijuana decriminalization 2015
A downward drop seems to be the trend.
” You light up in public out here (light up anything) and you are asking to be publicly lectured by the anti-smoking crowd and possibly cited by police.”
Sounds like a terrific place ./s
.
Hmmmm ... a downward trend in crime and more money than booze ...
Just think if they forced all citizens to smoke weed or eat weed enhanced products how much more in taxes they could rake in.
Well, THAT justifies it, I guess....
Bet professional whoring would bring in more.
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