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Governor: Colorado pot market exceeds tax hopes
Associated Press ^ | 02/19/2014

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 ...


TOPICS: Culture/Society
KEYWORDS: potheads; taxandspend; wod
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To: hoosiermama
There's a whole SLEW of stuff that if they'd just keep their hands off of, we'd be so much better.

Politics ...stop trying to fix something that's not broken is another area I wish they'd just go on vacation for four years.

21 posted on 02/22/2014 5:50:16 AM PST by knarf (I say things that are true .. I have no proof .. but they're true.)
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To: knarf

Raising money by selling drugs to create programs to stop people from using drugs.

Liberalism is truly a mental disorder.


22 posted on 02/22/2014 5:53:54 AM PST by EQAndyBuzz (Insurgent Conservative)
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To: mfish13

Probably as many as there were previously, and probably as many as there are where you live.


23 posted on 02/22/2014 5:55:40 AM PST by EEGator
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To: cripplecreek

Welcome to the Idiot Nation. Keep the low brows amused and they will do what the government wants. Just like the lab rats.


24 posted on 02/22/2014 6:00:33 AM PST by Busko (The only thing that is certain is that nothing is certain.)
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To: Wolfie
Colorado pot market exceeds tax hopes

That alone will cause many other states to change their laws and seek to legalize mj.

First, mj, then ... ???

Proposed future advertisement:
25 posted on 02/22/2014 6:05:43 AM PST by TomGuy
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To: dennisw
These legal marijuana shops should be called Democrat voter factories where they manufacture new ones. New docile idiots Obama voting morons.

Now now. Many pubbies puff, too. It may not make the Dem voters, rather it just makes them dim and dazed.


26 posted on 02/22/2014 6:09:59 AM PST by TomGuy
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To: Wolfie

The day will come when Coloradoans regret this decision, and maybe even repeal it.


27 posted on 02/22/2014 6:11:51 AM PST by bigbob (The best way to get a bad law repealed is to enforce it strictly. Abraham Lincoln)
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To: dennisw
These legal marijuana shops should be called Democrat voter factories where they manufacture new ones.

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.

28 posted on 02/22/2014 6:18:10 AM PST by VRW Conspirator ( 2+2 = V OR 9th plus 10th equals V)
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To: Wolfie

What did the dopers pay for an ounce prior and post legalization? Just curious.


29 posted on 02/22/2014 6:23:32 AM PST by umgud (2A can't survive dem majorities)
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To: Wolfie

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?


30 posted on 02/22/2014 6:25:12 AM PST by FlingWingFlyer (As government expands, liberty contracts. - President Ronald W. Reagan)
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To: Wolfie

> 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.


31 posted on 02/22/2014 6:28:57 AM PST by jsanders2001
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To: Wolfie

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.


32 posted on 02/22/2014 6:29:00 AM PST by stars & stripes forever (Blessed is the nation whose God is the Lord.)
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To: cripplecreek

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?


33 posted on 02/22/2014 6:29:17 AM PST by lafroste
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To: FlingWingFlyer

> 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.


34 posted on 02/22/2014 6:34:09 AM PST by jsanders2001
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To: lafroste

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.


35 posted on 02/22/2014 6:38:22 AM PST by cripplecreek (REMEMBER THE RIVER RAISIN!)
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To: FlingWingFlyer
Where did the potheads get all this money to pay these kinds of taxes anyway?

"Welfare cash pulled from ATMs inside Colorado pot shops"

From us
36 posted on 02/22/2014 6:43:41 AM PST by RandallFlagg ("I said I never had much use for one. Never said I didn't know how to use it." --Quigley)
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To: Wolfie

Excellent, I wonder how much the star would profit on the sale of heroin and ruffies?


37 posted on 02/22/2014 6:43:50 AM PST by SampleMan (Feral Humans are the refuse of socialism.)
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To: mfish13

I would suspect about the same number as the last time you were there prior to the change in the law.


38 posted on 02/22/2014 6:46:22 AM PST by dmz
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To: Wolfie

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.


39 posted on 02/22/2014 6:49:14 AM PST by socal_parrot (I hate to say I told you so, but...)
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To: Wolfie

So the politicians are excited about the tax revenue from pot so they can spend the money on drug abuse programs?


40 posted on 02/22/2014 7:04:35 AM PST by Rusty0604
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