Marijuana Can Stimulate California’s Economy

It is funny how a so called “illegal dug” is in position to potentially help ease California’s $20 billion budget deficit. Democratic state assemblyman Tom Ammiano is pushing for the legalization of marijuana and the marijuana industry, through which the state could potentially earn billions of much needed dollars in tax revenue. As of today, around $200 million in medical marijuana is subject to sales tax. If Ammiano’s bill is passed, the Marijuana Control Regulation and Education Act (AB 2254) would legalize and hand over the control of marijuana taxation to California.

In 2000, Colorado legalized medical marijuana and by 2007 over 60,000 medical marijuana dispensaries were paying tens of thousands of dollars in taxes to the state. When the global economic meltdown hit the U.S., the state of Colorado got by with a little help from these old friends.

Full Story: Campaigns That Matter – Marijuana Can Stimulate California’s Economy.

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