Drudge Retort: The Other Side of the News
Thursday, June 13, 2019

Colorado has surpassed $1 billion in marijuana revenue to date since adult-use marijuana sales began in 2014, according to the Colorado Department of Revenue (CDOR)'s monthly reports for marijuana sales and revenue data released today. ... To date, marijuana tax, license and fee revenue has reached just over $1.02 billion and marijuana sales to date exceeded $6.56 billion. Currently, Colorado has 2,917 licensed marijuana businesses and 41,076 individuals who are licensed to work in the industry.

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They could put these revenues into a special fund jokingly named for Harry Anslinger

#1 | Posted by AMERICANUNITY at 2019-06-13 04:26 PM | Reply | Funny: 1

Sounds like a win-win to me.

#2 | Posted by SheepleSchism at 2019-06-13 04:28 PM | Reply

Sounds like a win-win to me.

#2 | Posted by SheepleSchism

That's not saying much.

Trump/Pence sounded like a win-win to you.

Legalizing cannabis is a good thing.

Commercializing cannabis, not so much.

#3 | Posted by donnerboy at 2019-06-13 04:37 PM | Reply | Funny: 1 | Newsworthy 1

www.fool.com

Meanwhile in California

California's Marijuana Tax Revenue Badly Misses the Mark
Pot tax revenue was nearly 50% lower than initial projections in California's first year of recreational weed sales.

Why is that? As usual for California it's greedy, tax-loving politicians.

"California imposed what's arguably the highest aggregate tax on legal cannabis in the country. This includes a 15% excise tax on purchases of cannabis and cannabis products, local taxes that vary but average about 8%, and a wholesale tax of $9.25 for every ounce of cannabis flowers and $2.75 per ounce on cannabis leaves. In total, this can add up to as much as a 45% tax on the consumer. "

#4 | Posted by nullifidian at 2019-06-13 04:37 PM | Reply | Newsworthy 3

"Commercializing cannabis, not so much."

you mean taxing it?

I was happy when it became apparent they would stop locking folks up and processing them through the criminal justice system for weed.

But I knew that wouldn't be good enough....gotta tax and spend it.

#5 | Posted by eberly at 2019-06-13 04:44 PM | Reply

In total, this can add up to as much as a 45% tax on the consumer. "

That's why you should never go to places like MedMen, it's a complete rip off.

#6 | Posted by ClownShack at 2019-06-13 04:55 PM | Reply

45%?

Who cares

Grow your own.

#7 | Posted by ChiefTutMoses at 2019-06-13 04:57 PM | Reply

#4 | Posted by nullifidian

Money the state wouldn't have collected, and a lost source of revenue for Mexican cartels.

As usual you just can't find it in you to be happy about anything :)

#8 | Posted by AMERICANUNITY at 2019-06-13 04:57 PM | Reply | Newsworthy 1

Grow your own.

This will be the 4th year I'm growing a few plants.

My first crop was superb. I was very devoted to the plants and literally babysat them constantly.

My last two crops I wasn't as attentive to them and they suffered. Last year two of my plants were devoured by caterpillars.

This year I have neem oil to combat the caterpillars and have been more vigilant about keeping them healthy.

It is a lot of work to grow weed.

#9 | Posted by ClownShack at 2019-06-13 05:04 PM | Reply

"you mean taxing it?"

No... I mean growing it and producing it in mass quantities with additives etc like tobacco.

Taxing it be a good thing. Helps make it legit and can help local communities.

If I don't want to pay taxes I just get a prescription.

#10 | Posted by donnerboy at 2019-06-13 05:12 PM | Reply

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#9
It takes some practice/skill but like any good garden its mostly just a lot of effort

#11 | Posted by ChiefTutMoses at 2019-06-13 09:03 PM | Reply

I am going to be in NorCal next month and I look forward to paying 45% on some clean, qualified, high octane cheeba I get to pick from a menu

#12 | Posted by ChiefTutMoses at 2019-06-13 09:07 PM | Reply

Legalizing cannabis is a good thing.
Commercializing cannabis, not so much.
#3 | POSTED BY DONNERBOY

What did you think was going to happen ?

Money the state wouldn't have collected, and a lost source of revenue for Mexican cartels.

Not exactly .....
www.nbcnews.com

#13 | Posted by AndreaMackris at 2019-06-13 11:52 PM | Reply

-What did you think was going to happen ?

No ----. This was 100% predictable.

#14 | Posted by eberly at 2019-06-14 12:10 AM | Reply

It is a lot of work to grow weed.

#9 | POSTED BY CLOWNSHACK AT 2019-06-13 05:04 PM

Hate to see your productivity in a real job.

#15 | Posted by Rightocenter at 2019-06-14 12:27 AM | Reply

Money the state wouldn't have collected, and a lost source of revenue for Mexican cartels.
Not exactly .....
www.nbcnews.com
#13 | POSTED BY ANDREAMACKRIS

It is a lost source, MACKRIS. That's why they're shifting to far riskier grow houses in the U.S. With increased enforcement paid for by pot taxes, this insignificant transition will peter out. The states are lagging on enforcement currently, that's nothing new. But what's also not new is foreign drug cartels "masking grow operations as legitimate business in legal states" since California legalized medical pot in 1996.

What we HAVE seen with legalization are cartels getting more desperate to maintain their grasp on a crop that they once relied upon. Making meth or coke is far riskier and difficult than growing low grade pot, which they can get away with in nonlegal states. The idea that cartels will rely on the current legal environement to maintain their influence in the U.S. drug market is simply silly and short sighted.

Regardless, even if there wasn't any lost revenue to the cartels, there's increased benefit in breaking the chains of institutional racism against nonwhites.

So that in and of itself should be celebrated, yet something I presume you'll ignore and HAVE ignored, Bernie-bro.

#16 | Posted by rstybeach11 at 2019-06-14 01:27 AM | Reply

Tax revenue goes up, crime goes down. Good. Now do it at the federal level.

#17 | Posted by bored at 2019-06-14 02:35 AM | Reply

photos.app.goo.gl

#18 | Posted by ichiro at 2019-06-14 03:53 AM | Reply

#16 we should all be able to grow and trade and sell and pay taxes, with a $3 license.
and next we should do cocaine and heroin... which probably won't do all that well in the long run, but nobody will doing crimes over it.
...the way ALL this should have been implemented was/is: all the "street" dealers in the shadows would be instantly legalized, and taxed.
what they did do is give it away to the rich (for "campaign" contributions). not only robbing us, but putting our brothers and sisters out of product and out of work.

the struggle continues.

#19 | Posted by ichiro at 2019-06-14 04:03 AM | Reply

To my surprise, Oklahoma now allows medical Marijuana. Go in to a dispensary and they have cards for docs in the area that will issue a card.

#20 | Posted by docnjo at 2019-06-14 06:21 AM | Reply

Any state legalizing marijuana is a failure if they don't pass a companion bill making it illegal for employers to drug test for marijuana.

Why can someone head to the bar after work, drink 12 beers and go back to work in the morning but can't smoke a joint once a week? If it's legal, make it legal.

#21 | Posted by JOE at 2019-06-14 07:01 AM | Reply

Cartels suffering? Cry me a river. Watch the old movie "Key Largo" starring Humphrey Bogart to get a glimpse of the future for drug cartels.
Legalize all drugs and treat them as a medical condition needing treatment and the cartels will be history.

#22 | Posted by danni at 2019-06-14 07:01 AM | Reply

1. there hasn't been a foreign marijuana cartel for at least 15 years now.
2.new growing techniques have killed the need to import exotics like thai sticks or columbian
3.the opioid demand in this country coupled with the demise of the mexican pot biz has caused areas that used to grow weed to start growing poppies.
4.with the border situation as it is there's no money to be made smuggling weed
5.california is having implementation issues partly because the west coast is flooded with high grade home grown..tax and licensing hadn't been worked out..within 5 years california will be a huge producer, they're setting up massive greenhouses.
6.legalization is going to be devastating to low income communities.

#23 | Posted by 1947steamer at 2019-06-14 10:22 AM | Reply | Newsworthy 1

#4 | Posted by nullifidian

Soooo taxed at a similar rate to cigarettes?

#24 | Posted by GalaxiePete at 2019-06-14 10:37 AM | Reply

"6.legalization is going to be devastating to low income communities."

This is true, and it's a big mistake. Licensing will go to those who are well funded and legally distanced from any criminal records. The industry will suffer from a loss of experienced personnel because those who know the most are likely to have at least one subject matter related arrest on their records and will be blacklisted from the industry.

#25 | Posted by Hagbard_Celine at 2019-06-14 10:44 AM | Reply | Newsworthy 1

#23 | Posted by 1947steamer

Don't kid yourself massive amounts are still smuggled in. Other things like Opiods make cartels more money and are bigger problems. It takes a lot of weed to be the equivalent of a kilo of fontanel or cocaine for that matter. But you still see the occasional big bust.

#26 | Posted by GalaxiePete at 2019-06-14 11:07 AM | Reply

*fentanyl

#27 | Posted by GalaxiePete at 2019-06-14 11:08 AM | Reply

Well, it has finally happened. We have 100% undeniable and fact-based evidence that Liberal bleeding heart snowflakism IS actually causing resources to be wasted.

"Marijuana revenue funds a range of youth and public health programs in Colorado, including mental health services, youth literacy initiatives and anti-bullying programs in schools."

So, money that could have gone towards things that actually matter and would help improve peoples' lives (like money to the homeless, maybe money for cleaner air, etc.) is being wasted to make sure kids feel warm fuzzys every day because they don't have to learn how to grow a spine. Because so many snowflakes think little Tommy and Debbie are bullied because kids were being kids to them, now they can help ensure money that could have gone to improve lives is actually going to make sure little Tommy and Debbie feel good inside because they and their parents are too weak to do it themselves.

Way to go! *golf clap*

#28 | Posted by humtake at 2019-06-14 12:46 PM | Reply

Just got back from a few different cities in Colorado.

Numerous people from varying cities with different demographics all state that homelessness, people pan handling and all around "losers" have moved into cities and areas that never had such before.

There IS a cost to legal weed.

And there are a lot of Gen z/iGen whose lives are adversely affected by their loser parents who smoke weed.

#29 | Posted by drivelikejehu at 2019-06-14 01:47 PM | Reply

"There IS a cost to legal weed."

Take a look at the drunk-driving stats for CO, since legalization.

Seems like the costs for prohibition are A LOT higher.

#30 | Posted by Danforth at 2019-06-14 01:51 PM | Reply

6.legalization is going to be devastating to low income communities.

#23 | POSTED BY 1947STEAMER AT 2019-06-14 10:22 AM | FLAG:

Can you explain this further?

#31 | Posted by drivelikejehu at 2019-06-14 01:56 PM | Reply

6.legalization is going to be devastating to low income communities.
#23 | POSTED BY 1947STEAMER AT 2019-06-14 10:22 AM | FLAG:
Can you explain this further?

#31 | POSTED BY DRIVELIKEJEHU

Yea, I'd like to hear more about that too. In CO the only "low income communities" that are really suffering are the ones that continue to prohibit sales, and fail to keep the money within their communities..

#32 | Posted by Whatsleft at 2019-06-14 02:02 PM | Reply

Marijuana Legalization Devastating to Low Income Communities.....

I've been involved in buying, selling, smuggling and growing weed for over 50 years. been to prison twice. money is hard to make in the ghetto. no resources. no credit. drug selling is one of the few ways to earn. lots of people on the poor side of town have jobs but underemployment is a fact of life. good paying jobs are not available to these folks. marijuana was/is a product that's much sought after, is profitable and doesn't have the baggage that crank or heroin have. lots of good hard working men and women have a little pot hustle on the side. that money helps pay the rent and buy groceries. when it's legalized that'll all be gone. as far as home grown competing with overtaxed legal...here's how that goes. if i were to still be selling the quality that i grow, it'd be 250 oz and that's a wholesale price. now my customers would budget for that expense and life would be good but when it's legal they will take that budgeted 250 and go to the weed store and instead of buying one ounce of my killer bud, they'll buy 2 grams of this 2 grams of that a couple of edibles and now i've become the main street mom'n pop trying to compete with walmart. and as far as street dealers or even people like me being the fountains of knowledge about the new marijuana biz..well that's BS. they hire agronomists with masters degrees to run these operations. for society writ large, legalization is right but it will be different for different people.

#33 | Posted by 1947steamer at 2019-06-14 07:16 PM | Reply | Newsworthy 3

i read a section of the Denver Post called "the cannabist" and one of the articles was about this woman attorney/CPA who got into growing. started out with one what appears to be some huge warehouse and now she has seven of these running. this is an operation under lights in an environment that will demand heating in the winter and cooling in the summer. and this is colorado real estate we're talking about. the money it takes to be in the pot business in denver...better have at least a million to even think about it.

#34 | Posted by MizWatsonsJim at 2019-06-14 10:35 PM | Reply

So that in and of itself should be celebrated, yet something I presume you'll ignore and HAVE ignored, Bernie-bro.
#16 | POSTED BY RSTYBEACH11#16 | POSTED BY RSTYBEACH11

You can't even comprehend the article ....

#35 | Posted by AndreaMackris at 2019-06-14 11:39 PM | Reply

so now the state can reduce the individual state income taxes!!

#36 | Posted by Maverick at 2019-06-15 11:15 AM | Reply

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