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Windfall on MJ Sales Not Happening
So this state figured that taxes on MJ sales would be almost 200 mil. I’m sure they already spent that money. Turns out people aren’t legally buying it. Don’t need a PHD to see this one coming. People have been buying it illegally for decades. Why pay high prices when it’s more easily available now than ever and way cheaper?
Why buy on the open market when you can buy it on the black market or grow it? I read the other day Colorado may be having some other issues with their dope program too. I think those were traffic accident related problems?
Calif. is just barely getting started with their legal MJ program, there were delays, so they are behind their tax estimates
It took a couple years here in WA. before consumers left the black market for the white one just down on the corner. Prices have now dropped to where it makes no sense to buy off the street..better product at equal or lower price in the store, and it's grown to very high standards to meet state requirements.
The battle Calif. is going to have is against the Mexican drug cartels. Those Mexican cartels are responsible for about 99% of the illegal growing done in Natl. Forests, and they aren't going to go away quietly.
Hope they bust 'em, and stick them in a tent camp in the deepest, most desolate part of the desert.
Great post Mike. DL's link supports your post. There has been a "bumpy rollout" and many areas of the state have banned commercial mj business.
And DL, how does $34M for 3 months look compared to nothing?
The problem is they projected 175 mil so they’ve already spent 175 mil. That’s calif. we had a bond issue in 2014 for water storage projects of 7.4 billion so we would have a safe supply of drinking water. In 2017 we had the spillway failure at oroville dam. They knew it had severe issues and at 50 years old it had reached its lifespan. Concrete structures have a 50-55 year life. So now people are wondering where that money went. This year we have another bond issue for safe drinking water. 4 billion and change. If you read the fine print you find 3/4 of it is going to non related projects such as parks and recreation for inner cities. Next year state tax on diesel will be at 58 cents a gallon only PA is higher by a penny. DMV fees went up $120. I was on an early morning flight on southwest air on a Monday. My son said sit up front where the republican legislators sit. They were the ones that were telling me that the money the Democrats budget is based on 3-4 year projections in the future. The governor recently said there was going to be a projected tax surplus and they were trying to figure out where to spend it. UH, how about giving it back to the people they took it from.
Cali may be a reflection of what happened to the US under Prez Obama. Things got screwed up and the folks got pissed and elected an "outsider" to come in and clean up the mess. Cali may take longer but history could be repeating itself.
People, even "useful idiots", get tired of the bullshat after a while, and start to rebel. Many have moved out but most will stay put and, at some point, fight back.
As noted, Trumpism is a prime example of this.
I believe this is just the beginning of this curve and that there is a lot more rebelion in store for the US. We have strayed way too far from our intended structure, so we return to the correct values or we accept the change to a much darker place.
What I find amusing is that some who despise Johnson certainly embrace his stance on MJ...