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.
13 comments
Boooooooooooooooooo. This is such bullshit. We don’t need to regulate things.
All part of “legalizing” vs. “decriminalizing”. They are just finding another avenue to raise funds. It’s what government does best: take our money.
Corporate rent seekers got the Government beat hands down on that,sir.
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.
Nonsense.
A useful plant is not illegal anymore in CO.
We are moving away from silly laws.There is no “illegal street market”
A reasonable tax on mj would probably have been ignored. 25% tax… people are gonna go right back to the cartel sources.
Baseless assertion.
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”.
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.
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?
I want to be the Johnny Appleseed of Cannabis. I want to sprinkle seeds all over the U.S.
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.
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?