Canadians looking for practical arguments in favour of legalizing recreational marijuana use just got some powerful ammunition from south of the border. The kind governments often can't resist.
Colorado, which along with Washington state legalized pot following 2012 referendums, announced last week it estimates the tax haul from recreational pot (which carries a 25 per cent sales tax) between Jan. 1, the first day of legal sales, and June 30, 2015, will be $117.8 million (all US figures ). Medicinal pot sales will add another $15.8 million, according to the New York Times.
The projection is far above initial estimates and presumably is based on the explosion of sales last month. The state government projected recreational marijuana sales could generate $610 million, with an additional $345 million coming from medical pot, Britain's Daily Telegraph reported.
“It’s well on its way to being a billion-dollar industry,” Michael Elliott, executive director of the Marijuana Industry Group, aRead More »from Is pot tax revenue too tempting for government to refuse?