High Marijuana Taxes: Be Careful What You Wish For, You Just Might Get It
Forbes 12 January 2020
Family First Comment: One of the most popular arguments that the cannabis advocacy community (including the Drug Foundation) has when the time comes to fight for legal weed is tax revenue. “Just think about how much money the state could make by taxing marijuana,” said every cannabis advocate to speak on the issue over the past several decades… It’s a great idea, too, only now cannabis supporters are no longer satisfied with the novel concept they have been selling like a coked-out car salesman all of these years. High pot taxes have a lot of these cats peeved, which has them threatening to return to the black market. But this is what they have been asking for.
Read more of our research on this issue https://saynopetodope.org.nz/social-costs-v-tax/
One of the most popular arguments that the cannabis advocacy community has when the time comes to fight for legal weed is tax revenue. “Just think about how much money the state could make by taxing marijuana,” said every cannabis advocate to speak on the issue over the past several decades. In fact, they have preached this ethos for so long that lawmakers have finally taken notice and decided, you know what, you guys are right, we’re going to legalize this stuff and tax the ever-living snot out of it. The political suits are finally convinced that legal weed is a good way to generate beaucoup bucks for their respective state, pay off budget deficits, help drug addicts out of the gutter, construct new schools and repair roads. It’s a great idea, too, only now cannabis supporters are no longer satisfied with the novel concept they have been selling like a coked-out car salesman all of these years. High pot taxes have a lot of these cats peeved, which has them threatening to return to the black market. But this is what they have been asking for.
Maybe it’s time they make up their minds.
In Illinois, where recreational pot sales just got underway at the first of the year, cannabis patrons are a little miffed over how much it costs to catch a buzz. And, honestly, it’s a legitimate gripe. The tax scheme is a bit nutty. Not only does Illinois tax its growers to the tune of 7 percent, but it is also sucking out multiple excise taxes depending on the type of pot product a person buys. They want 10 percent for flower, 20 percent for edibles and beverages, and 25 percent for any product that comes packed with over 35 percent THC. Oh yeah, Illinois pot customers must also contend with state and local taxes. So, in many cases, customers are paying 30 percent extra at the cash register. And, make no mistake about it, they are crying about it too.
“So for all the people out there that are coming out to buy I would encourage you to bring about $40 on top of what you’re going to spend,” cannabis customer Marc Woolfolk told NBC affiliate KSDK.
READ MORE: https://www.forbes.com/sites/mikeadams/2020/01/12/high-marijuana-taxes-be-careful-what-you-wish-for-you-just-might-get-it/#663d5a07600c
