Calif tax officials: Legal pot would rake in $1.4B
Jul 15 06:20 PM US/Eastern
SAN FRANCISCO (AP) - California tax officials say a state proposal to tax and regulate marijuana like alcohol would generate nearly $1.4 billion in revenue.
A State Board of Equalization report released Wednesday estimates marijuana retail sales would bring $990 million from a $50-per-ounce fee and $392 million in sales taxes.
The bill introduced by San Francisco Democratic Assemblyman Tom Ammiano in February would allow adults to legally possess, grow and sell marijuana.
This story is short on content but looms large in it's effects, and not just on taxes. There would have to be a fight of some king with the Feds. After all the demonizing of marijuana that began with racial overtones and moved on into phony medical claims were all done at the Federal level and are still used today. The worst claim they always use if, marijuana in a gateway drug. First it's not a drug it's an herb. Next if you want to talk and gate way substances, lets talk about one that you can use that can be connected to the use of every drug, herb, alcohol, sexual addiction, and anything else you can name with a negative attached to it. What is this terrible substance used by 99.999999% of all of those Ii just mentioned? Milk. Eeverybidy drank milk at some point and it makes as much sense as the argument we always hear. Oh yes there is no real case of ever dose ever in history. There are lies that say other wise but they are lies.
Now a chance to turn it's use into some good and I say go for it.
By the way I do not smoke or drink at all so let's not start with the jokes.