You have proposed taxing marijuana as a rich source of income for California, a state that is drowning in debt.
Your bill, AB 390 would, "Remove all penalties under California law for the cultivation, transportation, sale, purchase, possession, and use of marijuana, natural THC and paraphernalia by persons over the age of 21," and "prohibit local and state law enforcement officials from enforcing federal marijuana laws"
Good idea. Marijuana, at $14 billion annually, is California's biggest cash crop. Bigger than tomatoes, almonds or grapes. According to the New York Times:
"Betty Yee, chairwoman of the California Board of Equalization, the state’s tax collector, said that legal marijuana could raise nearly $1 billion per year via a $50-per-ounce fee charged to retailers."Chump change compared to our $441 billion deficit. But the state has already been hit with $12.5 billion in new taxes, so an added $1 billion could be significant.
But there is one thing everyone is forgetting. Marijuana taxes area already being added to the state's coffers. Medical Marijuana cooperatives allow California residents to buy marijuana legally with a doctor's "recommendation." The recommendation itself, renewable annually, can cost anywhere from $75 to $125. And an ounce or so of pot costs from $50 to $85.
All of this is taxable and I would not be surprised to learn that it is a considerable amount of revenue. For all practical purposes, marijuana is legal in California. Legal users can grow it themselves at home if they like, but I would guess, most buy it.
If you don't believe marijuana is big business in California, check out NORML's collective list. And these are just where you can buy pot legally.
I intend to find out just what kind of taxes marijuana adds to state revenues. Stay tuned.
Meanwhile, Assemblyman Ammiano, please follow up. It's a good idea.
Regards,
NEWSGUY
Note: Ammiano represents District 13, which includes San Francisco
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