Taxes On Recreational Pot Sales Could Top 35 Percent

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CBS Denver: The taxes on recreational marijuana might go a lot higher than first thought. Smokers buying at shops in Denver may pay up to 35 percent in taxes.

Colorado voters will be asked to approve two state taxes totaling 25 percent on all retail marijuana sales in the November election. They may be asked to approve an additional city tax for Denver.

Denver Mayor Michael Hancock wants to add an additional five to 10 percent city tax on top of that. Hancock said the money is needed to pay the costs of regulating the drug.

Critics complain severe taxes would destroy a new industry already approved by voters.

The Denver City Council has until August to decide if the tax question will go on the November ballot.

State tax amounts of 15 and 10 percent also need approval from voters.

You want legal pot? Careful what you wish for…as soon as the government gets its hand on it, they’ll tax it to death!

DCG

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0 responses to “Taxes On Recreational Pot Sales Could Top 35 Percent

  1. Legalizing Pot would pump a lot of money into our economy as well as save money that we are spending on the war against pot.

     
  2. At what point will people open their eyes and realize they are getting taxed to death with no accountability. Libs can spend other peoples money faster than my EX.

     
  3. I guess the dream of the pot-heads of getting cheap grass is going ” UP IN SMOKE “…………………………….” The power to tax is the power to destroy “!!

     
  4. Taxes never stop addicts from getting what they want: look at liquor sales. India’s government nationalised state ownership of all retail sales of cannabis and hashish, in tiny shops that are barely noticeable; I’m sure their tax is 50% of the price. In Canada alcohol and tobacco are highly taxed, but people haven’t stopped either drinking or smoking. In BC’s case, all profit from sales in BC Liquor Stores goes into funding our Provincial hospitals and related Social Services. That’s fine by me; much better than the ‘free market’ alternatives offered by Mafia Distribution Unlimited which I learned about in NJ & Pennsylvania in 1987-1988!

     
  5. I guess they’re not tired of drug (money) crime yet. If they don’t keep the illegal drug dealers in business the cops won’t have anything to do.

     
  6. Nothing an Obamacare exemption cannot address…………especially before the midterms…………………………………fear not potheads, your trusty President will come swiftly to your rescue………………………………..
    Hash Browns anyone?

     

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