Friday, May 11, 2018

WEED NOT AS PROFITABLE FOR CALIFORNIA AS EXPECTED

by Bob Walsh

One thing is pretty reliable about government in the People's Republic of California, they like tax revenue. As much as they can get from any source they can get it. Hell, San Francisco taxes land owners for the rain that falls on their property. For real.

One of the big pushes for legal weed was the notion that it would bring in a shitload of new tax revenue. Unfortunately it has been well below expectations.

The state collected $34 million in legal pot taxes during the first quarter of the year. That is not nothing. However, they figured it would be about $45 million. Proposition 64, the 2016 ballot initiative in CA that semi-legalized weed, was touted as bringing in about $1 billion per year in state and local taxes.

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