Colorado Approves 25% Tax Rate On Marijuana (VIDEO)

by Austin Petersen

 Talk about high taxes

DENVER, CO – Voters in the state of Colorado approved Proposition AA by a 64 to 35 percent vote. The bill demands a 15 percent excise tax (built-in) and a 10 percent sales tax at the point of sale.

Brian Vicente of the Committee for Responsible Regulation said that, “The passage of Proposition AA today completes the historic process of regulating and taxing marijuana in the state of Colorado. “We are now poised to demonstrate to the world the benefits of ending marijuana prohibition and embracing this new system.”

Executive director of the Medical Marijuana Industry Group Michael Elliott said that the passage of Proposition AA “means Colorado will have a strong and well-funded regulatory system, along with funding for education, prevention, treatment, and other safety issues that may arise.”

Proposition AA is expected to bring in approximately $67 million a year. Of that, $27.5 million would go toward the construction of schools. The rest of the money would go toward the regulation of the dispensaries and some cities are reportedly looking at using the money for road repairs.

 


Austin Petersen is a homegrown Missourian with a lifelong passion for liberty. He grew up on a horse farm in Peculiar, Missouri and went on to attend Missouri State University, graduating with a degree in the Fine Arts. After developing a career in media in both New York City and Washington, D.C., he returned to Kansas City, MO, the city he now calls home. In 2016, Petersen appeared on the national stage as a candidate for president of the United States. He took second place in the crowded Libertarian primary behind Governor Gary Johnson and ahead of cyber security maverick John McAfee. During his campaign, Petersen earned many high-profile conservative endorsements, including Mary Matalin, Erick Erickson and Leon Wolf of RedState.com. Petersen also brings decades of professional experience in a wide variety of fields, from content production and media to business and political activism. He is the owner and chief executive of Stonegait LLC, a consulting firm specializing in photo and video services. He was also the director of production at FreedomWorks and an associate producer for Judge Andrew Napolitano’s show “Freedom Watch” on the Fox Business Network. Additionally, Petersen has a national following as a commentator and professional pundit. He is the founder of The Libertarian Republic, a powerful online news source for the public that receives an average of 1 million unique visits monthly and whose podcast, The Freedom Report, receives an average of one million monthly downloads. He is also a frequent contributor on television, appearing on Fox News, Fox Business, CNN, MSNBC and on dozens of local radio shows.

13 comments

AJ_Olding November 6, 2013 at 2:27 pm

Boooooooooooooooooo. This is such bullshit. We don’t need to regulate things.

Martin Van der Meer November 6, 2013 at 3:15 pm

All part of “legalizing” vs. “decriminalizing”. They are just finding another avenue to raise funds. It’s what government does best: take our money.

FNLED November 11, 2013 at 8:59 pm

Corporate rent seekers got the Government beat hands down on that,sir.

Tim Jitsu November 6, 2013 at 3:38 pm

just when you though the drug cartels were sweating… i bet they’re loving this. it will only drive people back to the illegal street market.

FNLED November 11, 2013 at 9:02 pm

Nonsense.
A useful plant is not illegal anymore in CO.
We are moving away from silly laws.There is no “illegal street market”

Jack Hammer November 6, 2013 at 4:38 pm

A reasonable tax on mj would probably have been ignored. 25% tax… people are gonna go right back to the cartel sources.

FNLED November 11, 2013 at 9:03 pm

Baseless assertion.

Darrin Woodard November 6, 2013 at 7:32 pm

25%? Thats cheaper than my income tax. Use your HSA to purchase it for medical use that way you avoid getting taxed twice, or grow your own and never get taxed. I call it the “Cheech and Chong Labrador Loophole”.

MFawful November 8, 2013 at 8:23 am

i believe this law allows you to grow your own marijuana plants. I’m not sure why people smoke marijuanas, but I support their right to do so.

FNLED November 11, 2013 at 9:05 pm

How much does Wall Street rent seekers and the administers of HSA’s love that they get to take fees and gamble with your account ?

Freedumb?

Inconsistencies November 6, 2013 at 10:27 pm

I want to be the Johnny Appleseed of Cannabis. I want to sprinkle seeds all over the U.S.

Luke November 7, 2013 at 10:21 pm

Hey people, cigarette taxes in New Hampshire account for 35% of the price of a pack, and I don’t see a lot of clandestine cigarette runners killing people over distribution territories. And the taxes here are relatively low.

FNLED November 11, 2013 at 9:12 pm

Why did Randall and the Old Man stop trying to help our economy and farmers with their Industrial Hemp efforts?

Too many distractions to actually do something useful and really push something that couldn’t see a better time than this?

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