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| California Plans to Hike Tax on Legal Marijuana, Threatening New Market With Rapid Extinction |
| 2019-11-29 |
| we discussed this issue yesterday California plans on increasing business tax rates on legal marijuana in 2020, which will hurt struggling companies that have trouble growing profits in the state’s toxic regulatory environment. Hefty marijuana taxes that can approach 50 percent in some communities have been blamed for pushing shoppers into California’s tax-free illegal market, which is thriving. Industry analysts estimate that $3 are spent in the illegal market for every $1 in the legal one. |
| Posted by:g(r)omgoru |
| #10 I wonder if the Dims can tax and walk at the same time. |
| Posted by: AlmostAnonymous5839 2019-11-29 16:31 |
| #9 WARBM. We are ruled by morons. |
| Posted by: Lex 2019-11-29 15:29 |
| #8 This shithead could probably get billions in new revenues, and add thousands in savings each year to every CA household, if he and DOGR were to permit fracking in the Monterey Shale. He might be able to lower taxes on marijuana and get the same result. The issue is that the current tax rates are such that illegal marijuana is now cheaper. The whole point of legalization was that legal would be cheaper, thereby driving traffickers out of business and eliminating the turf wars that result in shootings and killings. By keeping it more expensive than the illegal variant, the government is basically doing nothing to cut down on drug trafficking-related violence. It's just leeching onto legal drug sales for incremental tax revenues, which will go to zero as tax rates keep getting jacked up and users stop buying from legal outlets. |
| Posted by: Zhang Fei 2019-11-29 15:27 |
| #7 Newsom us as stupid as he is vain. This shithead could probably get billions in new revenues, and add thousands in savings each year to every CA household, if he and DOGR were to permit fracking in the Monterey Shale. F---ing idiots. Criminal incompetence. |
| Posted by: Lex 2019-11-29 13:24 |
| #6 “If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand.” And if you put socialists in charge of California, in one year people would turn back to the cartels. |
| Posted by: gorb 2019-11-29 13:19 |
| #5 Prohibition has made dope forever a grey market thing. Alcohol was at least totally legal before 1919, so there was a commercial mindset and infrastructure in place. Not so with weed. |
| Posted by: M. Murcek 2019-11-29 13:01 |
| #4 Tax revenues are down so Newsom wants us to smoke more pot while he's raising taxes on it at the same time. The cartels might want to rethink their pivot to hard drugs as it would seem there is still a viable market for bootleg weed. |
| Posted by: Abu Uluque 2019-11-29 12:51 |
| #3 Tax the dopers. They are too baked to figure out they are being economically r4ped. |
| Posted by: M. Murcek 2019-11-29 12:15 |
| #2 I thought they were against tariffs on trade? |
| Posted by: Bright Pebbles 2019-11-29 12:12 |
| #1 Ooops h/t Instapundit |
| Posted by: g(r)omgoru 2019-11-29 11:55 |