Colorado pot market exceeds tax hopes

[nhboy]

Link to original source.

"DENVER (AP) — Colorado's legal marijuana market is far exceeding tax expectations, according to a budget proposal released Wednesday by Gov. John Hickenlooper that gives the first official estimate of how much the state expects to make from pot taxes.

The proposal outlines plans to spend some $99 million next fiscal year on substance abuse prevention, youth marijuana use prevention and other priorities. The money would come from a statewide 12.9 percent sales tax on recreational pot. Colorado's total pot sales next fiscal year were estimated to be about $610 million.

Retail sales began Jan. 1 in Colorado. Sales have been strong, though exact figures for January sales won't be made public until early next month.

The governor predicted sales and excise taxes next fiscal year would produce some $98 million, well above a $70 million annual estimate given to voters when they approved the pot taxes last year.

The governor also includes taxes from medical pot, which are subject only to the statewide 2.9 percent sales tax. "

 

[BOP]

More money for government to spend like drunken whores.


No offense to whores.

 

[Hijinx]

First they legalize Marijuana, then they tax it, then they spend the tax money on substance abuse prevention.

From the article.

"The governor predicted sales and excise taxes next fiscal year would produce some $98 million"

"The proposal outlines plans to spend some $99 million next fiscal year on substance abuse prevention, youth marijuana use prevention and other priorities"

"The spending plan included $45.5 million for youth use prevention, $40.4 million for substance abuse treatment and $12.4 million for public health"

"The governor also proposed a $5.8 million, three-year "statewide media campaign on marijuana use," presumably highlighting the drug's health risks"

I guess that makes sense to some people, just not to me. Why legalize something then spend money trying to stop kids and others from using it?

 

[LostNFound]

They're not. They are using some of the money to stop kids from using it- the same way money is spent on adds to stop kids from smoking cigarettes or continuing their education. The substance abuse programs they are spending the tax money on is to help pill poppers and such- not adult pot heads. No one minds adults smoking pot, hence the long over due spread of legalization.

 

[CrashTest]

They're not. They are using some of the money to stop kids from using it- the same way money is spent on adds to stop kids from smoking cigarettes or continuing their education. The substance abuse programs they are spending the tax money on is to help pill poppers and such- not adult pot heads. No one minds adults smoking pot, hence the long over due spread of legalization.

Funding substance abuse programs with profits obtained from substance abuse. Progressive brainiacs. There's a reason they call it dope.

 

[tommyjo]

First they legalize Marijuana, then they tax it, then they spend the tax money on substance abuse prevention.

From the article.

"The governor predicted sales and excise taxes next fiscal year would produce some $98 million"

"The proposal outlines plans to spend some $99 million next fiscal year on substance abuse prevention, youth marijuana use prevention and other priorities"

"The spending plan included $45.5 million for youth use prevention, $40.4 million for substance abuse treatment and $12.4 million for public health"

"The governor also proposed a $5.8 million, three-year "statewide media campaign on marijuana use," presumably highlighting the drug's health risks"

I guess that makes sense to some people, just not to me. Why legalize something then spend money trying to stop kids and others from using it?

Something doesn't make sense to you...wow...there's a news flash.

 

[aps45819]

They used to have a problem with drunks blowing past stop signs


.... now they have traffic backups because the stoners are sitting there waiting for them to turn green

 

[GURPS]

First they legalize Marijuana, then they tax it, then they spend the tax money on substance abuse prevention.

but what happens to the budget previously allocated to Substance Abuse Programs ... next yr.

[it goes usually goes elsewhere - look at lottery money and schools]

 

[Chris0nllyn]

$5 says they don't drop the tax rate...

 

[officeguy]

Time for the DEA to arrest the CO governor and the revenue commissioner for racketeering and conspiracy to distribute.

 

[TPD]

Pothead economics - take in $98 million in pot tax, spend $99 million in pot abuse awareness - oh yeah!

 

[Hank]

$5 says they don't drop the tax rate...

$10 they raise it...

 

[Chris0nllyn]

Pothead economics - take in $98 million in pot tax, spend $99 million in pot abuse awareness - oh yeah!

Contrary to the info in this thread, not all the money is going to "pot awareness"....

A Colorado measure to impose sales and excise taxes of 25 percent on newly legalized recreational marijuana and earmark the first $40 million in revenue for public schools was approved by voters on Tuesday, Governor John Hickenlooper said.

Colorado voters approve 25 percent taxes on recreational marijuana | Reuters

"Kids, don't do drugs, and stay in school. You know, the schools funded by tax money made from selling pot."

 

[Chris0nllyn]

$10 they raise it...

Not taking that bet.