High Times Result In High Revenues For Colorado Residents
“It’s the end of civilization as we know it!” “It’s the best weekend I ever had.” Those two competing thoughts sum up the marijuana laws in Colorado. Either you’re for the legalization for recreational use or you’re opposed. No matter which side of the argument you fall on, if you live in Colorado, you could find yourself with a little extra cash in your pocket thanks to all that weed that has gone up in smoke.
The rationalization for legalizing marijuana is that the government can tax the heck out of the stuff. Then they can use those revenues to build schools, fix roads and all the other stuff they didn’t have money for. In the first full year of selling dope, there has been $50 million put into the state coffers. Sounds cool, right? There’s a hitch.
Back in 1992, the locals voted into law a measure that requires any new tax be put to a vote by the population at large. The law also found that if the state collected more money than what was needed they had to give that money back in the form of checks for everyone. It’s a complicated math thing about inflation and population growth that has resulted in Colorado making dividend payments at least six times since the law was enacted. Who cares? You get a check! And you get a check! And you get a check!
David Huff, a carpenter from Aurora told the AP that the 30 percent tax on his pot does feel a little steep. “I don’t care if they write me a check, or refund it in my taxes, or just give me a free joint next time I come in. The taxes are too high, and they should give it back,” Huff said.
Now Republicans and Democrats in the state legislature are uniting in a common cause: To do away with the paybacks. Of course, this will mean a new ballot measure. “Do you approve or disapprove of getting money back from all the stoners?” Gee, how do you think that will go over?