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Colorado legalized pot in 2012, and in 2021 the state raked in more than $400 million in tax revenue — with that money going to public schools, health care, and substance abuse prevention and ...
In 2019, the US gained a total of 1.7 billion dollars in tax revenue due to the legalization of marijuana. In 2021, that number more than doubled to 3.7 billion dollars. [14] The increase in tax revenue being a driving factor in the legalization of marijuana is similar to the effects of the repeal of prohibition.
When Colorado voters passed the law that legalized marijuana, the voters approved using tax money generated from marijuana sales for schools, police, and drug education. As of April 2015, projections for marijuana tax revenue for Colorado were at $58 million, but it was unclear at that time whether the additional revenue would have to be ...
Retail sales have a 10.75% excise tax on the marijuana, on top of the general 6.25% state sales tax, and up to a 3% local option tax, for a total of 17%–20% tax. [22] Treasurer Deborah Goldberg unilaterally increased the excise tax to 10.75% from the 3.75% approved by voters in the language of ballot question. [23]
The interest paid on the borrowed amount is often minimal compared to the potential tax burden of selling off investments, making this a highly effective method for maintaining and growing wealth ...
Last week, Warren Buffett wrote an incredible opinion piece in The New York Times asking the federal government to raise taxes on the wealthiest Americans, himself included. "My friends and I have ...
Marijuana impacts young people's mental development, their ability to concentrate in school, and their motivation and initiative to reach goals. And marijuana affects people of all ages: Harvard University researchers report that the risk of a heart attack is five times higher than usual in the hour after smoking marijuana.
Gates says policies should focus on taxing wealth rather than income since the super rich tend to have more of their wealth tied up in assets than in income.