Two states--Colorado and Washington--have completely legalized pot for recreational use….It is estimated that $7.6 billion is spent annually by state and local justice systems on marijuana arrests….Advocates of reforms say instead of spending this money on enforcement, the government could spend it elsewhere and tax marijuana to reap even more for its coffers. Indeed, taxing pot could raise hundreds of millions of dollars, but there is no guarantee that it would be a moneymaker for states.
The financial gains in Washington and Colorado, the two states that have legalized marijuana, have not been as great as some expected. Washington had projected up to $450 million in added annual tax revenue, but the state's new pot consultant figures it could be little more than half that. In Colorado, the Colorado Futures Center think tank forecasts $130 million in new tax revenue but thinks that won't even cover the cost of regulating the new industry.
Mariano Costillo, CNN June 23, 3013
The financial gains in Washington and Colorado, the two states that have legalized marijuana, have not been as great as some expected. Washington had projected up to $450 million in added annual tax revenue, but the state's new pot consultant figures it could be little more than half that. In Colorado, the Colorado Futures Center think tank forecasts $130 million in new tax revenue but thinks that won't even cover the cost of regulating the new industry.
Mariano Costillo, CNN June 23, 3013
No comments:
Post a Comment