Colorado Expects $1 Billion In Marijuana Sales
Most recent sales estimates suggest that the legal marijuana industry in Colorado could make a billion dollar revenue by next fiscal year.
After legalizing recreational cannabis, Colorado is being closely watched by politicians everywhere. And if there is one thing all politicians have in common, it’s their wish to see economic growth. Considering the first numbers and estimates that are coming out of Colorado, the legalization is starting to look very attractive for the economy.
The new sales projections, which approach $1 billion in total, predict a total of $612.8 million in recreational and an additional $344.9 million in medical marijuana sales during the fiscal year 2014-2015, which starts in July.
In November 2013, Colorado voters gave their approval on a 10% sales tax and a 15% excise tax a to be applied to recreational marijuana sales - this means roughly $103 million will be flushed into the state's coffers; money that could be well spent.
But in the budget proposal presented by Colorado Governor John Hickenlooper on February 18th, there is an item that angers the entire cannabis community - he wants to spend $45.5 million, nearly half of the state's estimated marijuana tax revenue on anti-drug propaganda and prohibition efforts. Moreover, he suggests to levy additional weed taxes to be used to "protect public safety and health and to prevent underage use." So, basically, he wants to use almost 50% of the generated taxes to fight the product that generates the taxes - that's sheer madness!
So, while marijuana advocates and company founders work zealously to develop a profitable marijuana market and to create jobs and an economic upturn, the elected officials are busy developing new tactics to waste millions of dollars on a disguised war on pot. Even with lipstick and makeup - a pig remains a pig.
Hickenlooper told the New York Times that smoking pot "Makes you slow down and clumsy" - if that would be the truth, he must have had way too much of it. The next election will very likely show him how clumsy his attitude is.