Sorry, I’m not quite understanding your point here. Are you stating that the pot market is only teenagers and lower income folks, or are you stating that teenagers and lower income folks would resort to growing since they wouldn’t either legally be able to but it legally, or couldn’t afford to.
You have it about right. But I think that it’s not so much that lower income adults can’t afford taxed pot, just that many if not most wouldn’t pay a large retail premium for small amounts when a plant or two is so easy for them or their friends to grow.
I don’t know what assumptions were made in that $2.4 billion revenue estimate, but when possession is legal, legal sales are going to have an inverse relationship to the rate it’s taxed. Proponents of legalization generally minimize or ignore that relationship. If they think new pot smokers would make up for that sales loss, then there’s all kinds of social cost that need to be estimated.