TW: We have hit this before (see the sidebar for "drug legalization"). But California, as usual, is leading the way. De-criminalizing, regulating and taxing the crap out of pot only makes sense.
From Economist:
"It was just a matter of time until someone in some struggling locale did this—Oakland, California has passed a measure (by popular vote) to tax marijuana. Pot shops had been paying the same tax as all other retail businesses, $1.20 per $1,000 in sales. That rate will now be raised to $18. Marijuana is medical for medicinal purposes in the state of California, but oversight of sales is rather lax, and the state will vote on legalisation of the drug for recreational purposes next year.
An interesting fact about the proposal: Oakland marijuana dispensaries reportedly supported the tax increase, on the grounds that passage of the measure would further legitimise their businesses and the practice as a whole. Indeed, once a line of revenue is established city leaders will have a strong incentive to protect the status of the sellers.
One wonders why more cities and states haven't experimented with non-traditional methods of encouraging economic activity and raising revenue. Perhaps crisis isn't quite as good at opening the door to daring or controversial new policies as is widely imagined."
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