10 Facts on the Economics of Weed
6. Legal weed means more tax revenue for communities and states
As we appear to be incapable of decriminalizing something just so we can enjoy a greater degree of liberty, let’s bring it out of the shadows and tax it insanely! There seems to be some fairly good empirical data here given the numbers of states that have or are in the process of loosening possession laws. Things that work become popular and Colorado’s $76 million in taxes, licensing, and other fees sure does seem like it’s working. These numbers do not include taxes on things like bongs, hotel rooms, black lights and Bob Marley posters, hemp necklaces, or halide light set sales. Washington came in with a less robust total but increases were expected despite rumors of a glut.
