Legal Pot Becomes Lucrative
by Nao Emzed on September 16, 2015 - 6:13pm
The legalization of marijuana is a very actual topic of conversation now in Canada. Moreover, as it might be an electoral issue in period of federal election campaign, more and more of us are interested to hear the various opinions of the parties on that subject. Therefore, I've decided to write my blog entry about pot's economic impact in Colorado, one of the American states that legalized the purchase and sale of marijuana since November 2012.
It seems like this economic activity is very profitable, both to the sellers and to the state government. In Colorado, a 25% tax is applied and the state therefore estimated a revenue of 40 million dollars for 2015. However, the specialists were wrong and underestimated the economic importance of pot. According to BBC's statistics, the state of Colorado collected more than 70 million dollars since January. To thank the consumers and to encourage this economy, a tax-free day was declared next Wednesday (however, the regular shop tax of 2.9% and taxes on medical marijuana will remain applicable). According to Fox31 Denver’s reports, consumers might save about 20$ on a 200$ ounce purchase. As Tim Cullen from the Colorado Harvest Company says: "We've seen the numbers down the last couple of days in the stores. People are waiting for the tax-free day. We're ready for it. The store is fully stocked and staffed. I think a lot of people will show up."
To conclude, maybe this brings a new argument in favor of the Canadian legalization of pot. Numbers now show that such political decision would definatelly give a major economic boost to our society. Maybe it will be us, only teenagers at the moment, who will later ponder that question in Ottawa.