California could profit $1.2 billion from marijuana tax if legalized
California is broke. We all know that. So just how smart would California be if they legalized medical marijuana? Oh, you know, that would just bring in an additional $1.2 billion!! Not big deal right? Exactly what we were thinking… California – get it together! Legalize marijuana and while you’re at it, gay marriage, and I promise you won’t regret it!
English: NORML members protest in Lafayette Park during the annual July 4th “Smoke-In.” (Photo credit: Wikipedia)
So just how much would states profit from legalizing medical marijuana? Read the full story below.
Cash-starved states eye pot tax
Politico, on Thu, 28 Mar 2013 01:49:05 -0700
Dale Gieringer, director of California National Organization for the Reform of Marijuana Laws, estimates that legalizing pot would bring in at least $1.2 billion to his state alone. His study assumes a traditional sales tax plus an additional $50 levy …
His study argues that legalization could also generate $12 billion to $18 billion in new economic activity for California.
Miron estimates that a nationwide legalization that taxed marijuana like alcohol and tobacco would mean $6.4 billion in new tax revenue — $4.3 billion for Uncle Sam and $2.1 billion for the states.
Read more: http://www.politico.com/story/2013/03/buzzkill-cash-strapped-states-eye-pot-tax-89412.html#ixzz2P3B6Do6e
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About 420 Shaye
Founder of 420Cali.com. Shaye started her medicinal marijuana journey in SoCal and currently resides in NorCal, giving her an awesome perspective of the 420 lifestyle in California. Support Shaye and other 420 Cali bloggers by contributing content to the site. 420 California-based business? Get listed for free! We welcome all Californians who share our love and respect for nature's finest, cannabis.
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