Legalizing Marijuana Would Raise $1.4 Billion Says CA Tax Board

McClatchy:

California could see a nearly $1.4 billion per year increase in state revenues were it to legalize marijuana, the state Board of Equalization says in an analysis of pending legislation to to do that.

Read the whole story: McClatchy

Comments

[BeauRadley]

A good many of us have been saying this for years: legalize it and stop punishing the people who actually need it (cancer sufferers for example) and empty the prisons of pot users so we can make room for those like John Yo et al whose deserve prison can be incarcerated.

[sandals]

Just so you know they already tax you for tomatoes and cantaloupe, it is at the end of your grocery receipt.

I also agree, you see the drug companies with all their commercials to tell you about a drug so when you go to your Dr. you ask about it, and some of these drugs are legal and can cause addiction.

Marijuana is no different than alcohol, there is no reason why it isn't legal, and why not if it brings in tax revenue than go for it, maybe it could help create jobs, growers, and those who have to pick and bag it, and maybe some free samples!

[Adartist777]

Yes, sandals. But if you grow tomatoes and cantaloupes in your back yard, those are not taxed. Sorry about the misunderstanding.

[mcmutter]

Lets clean the prisons out of the nonviolent drug offenders who never belonged there in the first place.

[Glocksf21]

This is the one liberal issue I agree with......we dont need more prisons, just use the prison space we already have, wisely. only societies most violent and vile belong in prison.

[Chaimirija]

yes, and we should be finding more thing to agree on

[anniebuddy]

Hey, we're turning into a nation of druggies from the legal stuff. You have a hangnail ... here, take a pill. You have a problem ... here, take a pill. Marijuana is probably healthier to use than half the stuff the legal dealers are pushing.

[bbrecht]

Yes and you can grow it in your backyard.

[pragmaticdallasite]

More than half the stuff, like 99% of the stuff.

[octopi]

If anything, it is safer than Tylenol in the short-term.

[Adartist777]

You know, I find it amusing that legalization may occur simply out of greed and desperation for tax money. If they really wanted to legalize it for the right purposes - just legalize it with no strings attached. Allow consumers to grow their own as they would as if growing vegetables in the back yard.

We'll really be in trouble if they start taxing us for tomatoes and cantaloupes.

If legalized, the street market price will come down, shutting down taxed sales.

[delta7777]

.
well, you can legally make your own wine in reasonable quantity for personal use,
but dont be disappointed if it doesn't rival Pétrus or Romanée Conti.
.

[KarateKid]

If it was legalized, it would be like the Netherlands. Why would anyone buy an ounce at a time when you could get those little $10 bags at any time? The street price for really good pot is $100 for a 1/4 oz., so taxing it on top of that will only encourage growing it, and that won't be as easy to tax.

[delta7777]

.
if it is legal, you will be get the same 1/4 ounce including tax
for less than you have to fork over now.
end user price will come down, not increase.
the law of open&legal supply and demand
plus competition and advanced horticulture will make
a lot of super quality pot available at substantially lower cost.
tokers will be happy; the tax collector will be grinning from ear to ear.
and nobody will really care about the general economy failing.
.

[Adartist777]

If it's taxed too high, the street will sell it cheaper. That's capitalism folks!

[bbrecht]

Very well. Legalize it, there will still be an enormous amount of income. People will grow it themselves too. It's still win, win.

California will still have to solve it's tax problems, but every lit bit will help!!!

[pragmaticdallasite]

If it's legalized the condition will be that certain companies will own rights to manufacturing. This is the U.S., any company doing so will most likely use enormous economies of scale to produce it cheaply......IMHO

[Hollywooddeed]

What happened to $10 lids? When did I get so old?

[KarateKid]

LMAO!!

[sixyfivepercentwater]

Sounds like we're about the same age. What happened to the $200 pound? All I can say is thank God I'm high on life these days. . . .

[Hollywooddeed]

But those were the days, my friend. I wouldn't go back, though.

[macchugsid]

$10 dollar lids? Now that is a price and a term I have not heard in quite some time. My kids still have a hard time believing it. Those were the days eh!

[SangZe]

High time!

[lovethesinner]

Great idea. Solves a lot more than just economic problems. If it was up to me, I'd legalize all drugs, (except pharmaceuticals) and let society figure it out. For those parents who worry about their kids... trust me, if your kids want to do it, they will whether it's legal, or not. Better they learn about drugs than learn how to be criminals, as well.

It's time for American society to grow up.

[traveler501]

oh please...after hundreds of years of legal alcohol and nicotine...let's just reverse things a while...make them illegal and open up all marijuana usage. I don't know which would be funnier...watching this culture lighten up a little, or watching the smokers and boozers jonesing. do we get to lock them up for sneaking a little fermented this or that in the basement?

[twogunmojo]

that only lives cali about 23 billion in the hole.....hahahahahahahaha.....what maroons.....

[RevRayGreen]

what about the money the State of California wastes on arrest and incarceration.........it's not about taxes it's about human lives. No non-violent man should go to jail/prison for marijuana use/possession, no matter what the amount.

[anniebuddy]

Oh, I soooo agree with everything you said. But it's not just California's penal system ... it's all across the US, thanks to the mandatory jail time legislated under Bush. We're #1 in the world according to our ratio of incarcerated. Ya think we're doing something wrong?

[delta7777]

.
50 bucks an ounce tax??

for good pot that seems way too cheap
if the pot itself comes in at a fair price
commensurate with legality and
reasonable production costs.
at the same time, a 50 buck taxed ounce is
a bit of a heavy layout of coin for a regular
user, and more pot than is necesary to have
hanging around if it is easily available at any time.
far better for both consumer and tax revenues
to think in terms of dime bags rather than ounces,
but apparently Sacramento politicians have about
the same level of street smarts regarding pot
as they do for balancing budgets.
.
.

[zerotimes10]

Legalize marijuana? Stop the Murders in Mexico? Pay off the National debt? Nah, makes too much sense.

[Bettysdad]

This is based on pot selling at $100/oz. You can pay less than that on the street, or office, depending.

So why would anyone buy legal pot for $100/oz, plus $50/specific tax, plus 8%-10% sales tax, when they can simply continue their current arrangement?

CA should simply determine how much of pot's price is due to its' illegality, and treat it like any other crop. THEN tax it so it will be below current street prices.

I don't know pot economics, but a heroin addiction should cost about $8/day if it was legal.

[MichelY]

$100/oz? really? damn you can't get a 1/4 for that price out here. Really?

[LegalWeed]

Yes I want to live where you live (and know who you know), Bettysdad...I pay ( and gladly) $65 for 1/4 and some times it is good and sometimes not so. To to be able to buy an oz for $150 would be a most welcome circumstance....

[me4you]

where do you live?

[delta7777]

.
you gotta stop smoking ditch weed
.

[Burkelbile]

it'd "raise" more 'n THAT ...