Colorado Just Became The First State In History To Collect More Taxes From Marijuana Than Alcohol

 

No state has ever generated more tax revenue from marijuana than alcohol—until now.

The Colorado Department of Revenue, according to recently released figures, just brought in $70 million in taxes relating to marijuana, compared to less than $42 million for alcohol taxes, over the course of a year.

This Wednesday, Colorado is declaring a marijuana tax holiday, meaning that for a single day, taxes on marijuana items will be suspended.

This is a game changer, if you ask me.

 

In a country that is offering buyouts for farmers to stop growing tobacco - historically one of the sources of literally tens of billions of dollars in US excise tax - how can we replace the loss in revenue when the number of smokers in the US has reduced by more than half over the last 50 years?

 

I think as soon as someone manages to devise a quantitative test for THC intoxication rather than a simple positive/negative test for THC, we're going to see marijuana legalized federally.

Legalize it, tax it.

I think as soon as someone manages to devise a quantitative test for THC intoxication rather than a simple positive/negative test for THC, we're going to see marijuana legalized federally.

 

I think general puritanism is far more of an obstacle to its legalization than the forthcoming existence of a breathalyzer type device. We are nearing a tipping point, though. But that might be over the course of another decade or more.

 

The reasoning for it being a Schedule 1 drug at the federal level is weakening. I can see that changing in the short-term depending on how national politics play out in the 2016 election. Once the tipping point is reached a host of states might legalize it in rapid succession, but I imagine a near majority will keep it illegal (I'm looking at the solid South) for a much longer time.

 

Maybe the enticement of a tax windfall might compel some states to move a little more quickly. But, the cost of enforcement hasn't compelled them either.

All fun n games til someone gets hurts.

If it was just about raising money, then we'd have casinos in the state by now. Not saying it couldn't happen...just feel it may be a harder fight than some may think.

This Pharmacist thinks it a terrible thing for more states to legalize it . Unless there is a way to standardize the amount of active ingredient in each " joint" that I don't know about then the product should not be legal . ( or maybe legal if written only by Cancer Md's or some eye specialist ) . But what other product known to medicine is given and you have no way to measure how much PCP is in each joint . Joints grown in Carter Co may be far different than joints grown in Pike Co . You have to have a standard , and there is none . Unless you just don't care . But can you imagine being on any other mind altering , legal , FDA approved chemical and you don't have a way of truly knowing how to dose it ? That's my argument against it , that and the truth that it is a gate way drug for some people into being addicted to other products .

Sadly Govts care more about money than they do people . And smelling that tax money will over ride everything else . that's America in 2015 .

Awesome news! Hopefully the rest of the country will wake up soon...and then ten years after that KY might look around and wonder how they got left behind.

In Colorado...

Lottery returns $135,000,000 per year back to the state on sales of over $500M

Cigarette Taxes return over $200,000,000 per year back to the state

Gasoline Taxes return over $630,000,000 per year back to the state

 

Just for some perspective

This Pharmacist thinks it a terrible thing for more states to legalize it . Unless there is a way to standardize the amount of active ingredient in each " joint" that I don't know about then the product should not be legal . ( or maybe legal if written only by Cancer Md's or some eye specialist ) . But what other product known to medicine is given and you have no way to measure how much PCP is in each joint . Joints grown in Carter Co may be far different than joints grown in Pike Co . You have to have a standard , and there is none . Unless you just don't care . But can you imagine being on any other mind altering , legal , FDA approved chemical and you don't have a way of truly knowing how to dose it ? That's my argument against it , that and the truth that it is a gate way drug for some people into being addicted to other products .

 

There's no way to standardize it like you say, and why would they want to? From what I understand, in Colorado and other places it's labeled and priced according to how strong it is. My dad and I both use the same BP medicine, yet his is 40mg and mine is 20. Seems to be the same principle at play here.

In Colorado...

Lottery returns $135,000,000 per year back to the state on sales of over $500M

Cigarette Taxes return over $200,000,000 per year back to the state

Gasoline Taxes return over $630,000,000 per year back to the state

 

Just for some perspective

 

That is interesting. I am shocked at the cigarette tax money.

This Pharmacist thinks it a terrible thing for more states to legalize it . Unless there is a way to standardize the amount of active ingredient in each " joint" that I don't know about then the product should not be legal . ( or maybe legal if written only by Cancer Md's or some eye specialist ) . But what other product known to medicine is given and you have no way to measure how much PCP is in each joint . Joints grown in Carter Co may be far different than joints grown in Pike Co . You have to have a standard , and there is none . Unless you just don't care . But can you imagine being on any other mind altering , legal , FDA approved chemical and you don't have a way of truly knowing how to dose it ? That's my argument against it , that and the truth that it is a gate way drug for some people into being addicted to other products .

If PCP is the active ingredient in your joint I think you're doing it wrong...

Sorry meant THC , but there is no standards for measuring THC in a joint before it's sold to a consumer .

All fun n games til someone gets hurts.

 

Yeah, no one ever gets hurt because of alcohol.