Between now and 2028, the state could gather more than $1.25 billion from licensing fees and other taxes, according to estimates.
The U.S. federal government has left over $500,000,000 in tax revenue on the table by not legalizing marijuana at the federal level.
No one has been caught more off guard by the high demand for cannabis products than beer, wine and liquor companies.
State governments may gain money from legal cannabis, but the feds would actually lose money should prohibition end.
Some customers would rather take their chances with shady street dealers than suffer the high taxes they're being asked to pay at the cash register.
California Raises Cannabis Business Taxes, Legal Operators Worry It Will Drive Illicit Market Growth
This move will only further oppress an already weak legal market and fuel the thriving illicit market, according to industry insiders.
Just as with the prohibition of alcohol in the 1920s, the federal prohibition of marijuana has been unnecessarily cruel, wasting billions of dollar, unjustly harming millions of lives, and furthering racist policies.
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