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It seems they collected less that third of what they thought. Why am I not surprised?
Voters legalized retail marijuana (pot for everyone, not just medical patients) in 2012. And they were told the state wouldpull in $33.5 million from two new taxes in the first six months of 2014. It turns out, the projections were way off.
When they set the tax rate so high, they set themselves up for failure. It isn't surprising. people will continue to keep their medical marijuana cards, grow their own or buy on the black market to avoid the heavy taxes.
And now that the black market is in competition with state tax revenue, the war on MJ is certain to intensify rather than pacify. Be careful what you wish for.
It's not like a couple of us weren't noting that this is what would happen all along. That is not a reason for it to remain illegal but it is a reason to do it right.
The problem is when done right the tax collections are low so the authorities prefer the fines. This way though it makes it easier for the cartels to openly sell. Pretty much common sense to have realized that this is what was going to happen.
Never mind that you are a fool for spending $200 plus an ounce for something you can grow yourself for a fraction of that.
"Since January, Colorado has reaped $29.8 million from marijuana, according to June collections reported by the state Department of Revenue. That figure includes taxes, licenses and fees from both medical and recreational pot."
Nobody really knows for sure what the final numbers will be because nobody's ever done this before. The article the OP quotes is talking about estimates, which could be too high (ha!) or too low. But to say that money is 'missing' because the estimates are wrong is silly. Some people were estimating $70 Million, for goodness sake.
And now that the black market is in competition with state tax revenue, the war on MJ is certain to intensify rather than pacify. Be careful what you wish for.
Watch Drug Wars and the people say legalizing pot the way the pot shops have done will make their pockets much deeper.
All most pot smokers wanted was to grow their own and not do time for a pot possession. Pot Shops were more for those who thought serious pot smokers would come running to.
Yuppies never learn they just push to be cool, never really understanding the core of pot culture.
How many Millions more did Colorado collect than the other states, hmmmmm? The tax is too high, as many warned, why pay twice as much for something that they can get from the same person they have been getting it from for years? Oh and as one posted noted, no one knew exactly what the results would be, it was all a wild guess, so hence there is no tax revenue missing, that is simply a major reach on the part of the OP.
Watch Drug Wars and the people say legalizing pot the way the pot shops have done will make their pockets much deeper.
All most pot smokers wanted was to grow their own and not do time for a pot possession. Pot Shops were more for those who thought serious pot smokers would come running to.
Yuppies never learn they just push to be cool, never really understanding the core of pot culture.
Correct, all most smokers ever wanted was for pot to be Decriminalized, meaning they could grow their own or buy it from friends and not worry about having to pay big bucks in fines if they are caught. Strange how so few politicians even consider decriminalization, know why the answer is simple, $$$$$$$$$$$$.
How many Millions more did Colorado collect than the other states, hmmmmm? The tax is too high, as many warned, why pay twice as much for something that they can get from the same person they have been getting it from for years? Oh and as one posted noted, no one knew exactly what the results would be, it was all a wild guess, so hence there is no tax revenue missing, that is simply a major reach on the part of the OP.
It came from the article. OP simply quoted the article.
You're complaining that the state isn't making enough money from the sale of an ancient herb that grows all over the World and has been used freely by every human civilization in history for thousands of years until politicians and businessmen from the United States decided to outlaw it a few decades ago for their own personal gain?
RIP USA
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