Posted on 02/22/2014 5:11:33 AM PST by Wolfie
Governor: Colorado pot market exceeds tax hopes
Denver -- Colorado’s legal marijuana market is far exceeding tax expectations, according to a budget proposal released Wednesday by Gov. John Hickenlooper that gives the first official estimate of how much the state expects to make from pot taxes.
The proposal outlines plans to spend some $99 million next fiscal year on substance-abuse prevention, youth marijuana-use prevention and other priorities. The money would come from a state 12.9 percent sales tax on recreational pot. Colorado’s total pot sales next fiscal year were estimated to be about $610 million. Retail sales began Jan. 1 in Colorado. Sales have been strong, although exact figures for January sales won’t be made public until early next month.
The governor predicted sales and excise taxes next fiscal year would produce some $98 million, well above a $70 million estimate given to voters when they approved the pot taxes last year. The governor also includes taxes from medical pot, which are subject only to the statewide 2.9 percent sales tax.
Washington state budget forecasters released a projection Wednesday for that state, where retail sales don’t begin for a few months.
Economic forecasters in Olympia predicted that the state's new legal recreational marijuana market will bring nearly $190 million to state coffers over four years starting in mid-2015. Washington state sets budgets biennially.
(Excerpt) Read more at bigstory.ap.org ...
Politics ...stop trying to fix something that's not broken is another area I wish they'd just go on vacation for four years.
Raising money by selling drugs to create programs to stop people from using drugs.
Liberalism is truly a mental disorder.
Probably as many as there were previously, and probably as many as there are where you live.
Welcome to the Idiot Nation. Keep the low brows amused and they will do what the government wants. Just like the lab rats.
The day will come when Coloradoans regret this decision, and maybe even repeal it.
Don't give the Dems any ideas. Next, you will see the druggie version of motor-voter, doper-voter. Register to vote when you get your dope.
What did the dopers pay for an ounce prior and post legalization? Just curious.
The headline implies that this tax money has already rolled in to the government. The story says that these numbers are estimates from the politicians. Pure BS. Where did the potheads get all this money to pay these kinds of taxes anyway?
> Wait, I though pot turned people in violent maniacs prone to acts of destruction? You people have to make up your mind.
While driving an automobile or heavy machinery though I think Alcohol is worse in that regard. As a gateway drug to harder drugs, yes.
Where did the potheads get all this money to pay these kinds of taxes anyway?
Look at the crime increase in Colorado. That’s the answer.
Also, notice that there is not even the thought of using this new found revenue to pay down their debt. That’s not even on the radar. They intend to waste every damn cent of this new found revenue, especially on “other priorities”. I have an idea: why don’t they use this new revenue to pay down their debt? Oh I see, what fun is THAT?
> Where did the potheads get all this money to pay these kinds of taxes anyway?
From the taxpayers probably. They get in line with someone who wants to buy groceries cheap. They buy the goceries for them with their EBT cards. They walk out of the store and the welfare recipient hands over the groceries for cash. Simple.
I personally think decriminalization would have been a lot smarter but that would require a compromise. Better to pay a ticket if caught rather than willingly hand money to government every day.
Excellent, I wonder how much the star would profit on the sale of heroin and ruffies?
I would suspect about the same number as the last time you were there prior to the change in the law.
I was in Denver for a few days this week. A report on the news yesterday said all the tax revenue from the legal pot would be used to clean up the problems caused by it. Also, supporters said the black market pot would dry up and it is actually exploding. There were reports of lines to buy illegal, tax free pot in some city parks.
So the politicians are excited about the tax revenue from pot so they can spend the money on drug abuse programs?
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