California pot legalization could mean $1 billion windfall

Posted by | July 3, 2016 16:06 | Filed under: Politics

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Marijuana is big business, and lucrative for those states that have legalized it.

With a population of nearly 40 million people, and a thriving medical marijuana trade legalized 20 years ago, California already has the United States’ largest legal marijuana market. Legalization of recreational pot would generate an estimated $1 billion in additional taxes per year.

If voters in November approve a measure to legalize and tax marijuana that qualified last Tuesday for the ballot, California would be the fifth U.S. state – and by far the largest – to allow marijuana for recreational use, joining Colorado, Washington, Oregon and Alaska, as well as the District of Columbia.

A similar ballot initiative failed in California in 2010, but recent polls show strong support for legalization. The latest effort is backed by mainstream leaders including Lieutenant Governor Gavin Newsom, who helped negotiate the regulations and taxes it would impose.

Eight other states, including Nevada and Maine, also have recreational or medical marijuana proposals headed for their 2016 ballots. California’s sheer size as the world’s 6th largest economy means a decision by its voters to legalize marijuana could accelerate the trend elsewhere.

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Copyright 2016 Liberaland
By: Alan

Alan Colmes is the publisher of Liberaland.

22 responses to California pot legalization could mean $1 billion windfall

  1. oldfart July 3rd, 2016 at 16:20

    Well duh !
    How much money does one suspect has been spent on the black market on it ?!?

    • anothertoothpick July 3rd, 2016 at 16:30

      I know I have spent my share.

      • oldfart July 3rd, 2016 at 16:32

        Got to keep the economy going…
        one way or the other. ;)

      • Carla Akins July 3rd, 2016 at 16:59

        and we thank you for your participation. :-)

        • anothertoothpick July 3rd, 2016 at 17:10

          hahahahahahahaaaa

          I just look back and see a lot of people back in the ’60’s going from pot and LSD to coke and then speedballs. Remember when Pryor lit himself on fire while mixing a speedball?

          One might say we were experimenting.

          Yeah, that’s it, we were like scientist doing experiments without the paper work.

          • oldfart July 3rd, 2016 at 17:17

            “when you’re on fire…people will get out of your way”
            One of his funniest lines…

            • anothertoothpick July 3rd, 2016 at 20:11

              Hahanahahahana

              I loved Pryor

          • Carla Akins July 3rd, 2016 at 20:38

            Awhile back I told my very straight, never been stoned husband about the first time a girlfriend and I did acid – in high school. Mr. Hyper-rational seemed to think I exhibited poor decision making skills. Hahaha.

            • anothertoothpick July 3rd, 2016 at 21:12

              I know how you feel Carla.

              So he didn’t understand and no doubt never would.

              Remember this Carla:

              Above all things…..be true to yourself.

              Let me ask you this . Do you ever see out of the corner of your eyes, little yellow birds hovering near your head that are not really there?

              I am writing them off as a relapse and then moving on.

              Hahahahahahaha

            • StoneyCurtisll July 3rd, 2016 at 22:33

              In my best Bill Clinton voice…
              Biting my lower lip, “I feel your pain”….:)

    • Lyndia July 3rd, 2016 at 23:37

      Billions.

  2. KABoink_after_wingnut_hacker July 3rd, 2016 at 16:45

    As usual, a Democratic Governor in California is leading the way in economic prosperity.
    Now just look at the failures in red states…

    • anothertoothpick July 3rd, 2016 at 17:14

      Is Colorado a red state?

      I am too high to look it up.

      • oldfart July 3rd, 2016 at 17:20

        WOW man…it was blue but it looks kinda purple again… ;)

        • StoneyCurtisll July 3rd, 2016 at 22:31

          Key word….”wow” ~!
          Love it~!

      • KABoink_after_wingnut_hacker July 3rd, 2016 at 17:25

        LOL!
        I was thinking more about the likes of Brownback, Jindal and Scott Walker.

      • StoneyCurtisll July 3rd, 2016 at 22:30

        Duuuued~!

    • StoneyCurtisll July 3rd, 2016 at 22:27

      Look at Kansas and Gov Brownback….

      They cant even figure out how to fund schools..
      The state is so broke, I’m shocked the legislature is getting paid..(of course they are) but few others are getting a check..
      Trickle down tax breaks for the rich has fugged them royalty…

  3. amersham1046 July 3rd, 2016 at 17:51

    Texas could make that kind of money with a bible tax

    • StoneyCurtisll July 3rd, 2016 at 22:25

      yeah…
      But try gettin Texas to pass a tax, let alone on on fuggin buybulls…

  4. Lyndia July 3rd, 2016 at 23:58

    I will be so happy when Illinois come into the age of enlightment.

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