This is me just thinking outloud, I wonder how much of an impact there will be on illegal black market grows when more and more states legalize. I assume some of the benefit of the illegal grows is making bank exporting to bordering states.
Iowa Medical Cannabis Industry worried about Illinois Legalization
- Thread starter JRHawk2003
- Start date
This is me just thinking outloud, I wonder how much of an impact there will be on illegal black market grows when more and more states legalize. I assume some of the benefit of the illegal grows is making bank exporting to bordering states.
Well, there's a catch. It does depend on a restructured tax plan which is going to require a Constitutional change to be voted on next year. But, if that passes then there should even be a surplus that can help pay down the debt.
https://www.chicagotribune.com/poli...udget-pritzker-signed-law-20190605-story.html
That's not really accurate. In states that have a system for taxing and collecting revenue, they have done very well. Overall population matters as well. For instance, I know that Michigan hasn't made any money because they made it legal to smoke and have, but it is not legal to buy it. Illinois will likely make even more off people from Michigan than people from Iowa.
Illinois Economic Policy expects revenues to be north of $500 million a year. I think that's a bit optimistic but I'm very confident that it will be more than $100 million a year. Especially with all the out of staters coming to the state to buy. That won't last though because those states can't ignore all that money leaving the state forever. Well, maybe Indiana and Kentucky can.
It was very cheap in Seattle when I was there and my source that frequents Colorado gets me way more for less money than it would be on the street.
As woah astutely pointed out to me earlier in this thread, my comments are probably only relevant to CA. There, the taxation of recreational marijuana is so high as to discourage much of the illicit market from crossing over to the legal market.That's not really accurate. In states that have a system for taxing and collecting revenue, they have done very well. Overall population matters as well. For instance, I know that Michigan hasn't made any money because they made it legal to smoke and have, but it is not legal to buy it. Illinois will likely make even more off people from Michigan than people from Iowa.
Illinois Economic Policy expects revenues to be north of $500 million a year. I think that's a bit optimistic but I'm very confident that it will be more than $100 million a year. Especially with all the out of staters coming to the state to buy. That won't last though because those states can't ignore all that money leaving the state forever. Well, maybe Indiana and Kentucky can.
Washington state is a good example of this as they appear to be generating equal/more tax revenue on what I would have to believe is a smaller overall market (both legal and illegal).
Now please remind me why Iowa is worried about recreational MJ use? When you try and justify government as an instrument of capitalism, you are fighting a losing battle.
The Iowa GOP has been using this logic for years..and the result is less effective government, poorer delivery of services to customers and a bastardization of the role of government to its people.
Iowa needs to get out of the business of picking winners and losers and get back into the business of overseeing and regulating. Government cannot be expected to keep doing the jobs that have no profits and then cutting their tax revenues too.
The Iowa GOP has been using this logic for years..and the result is less effective government, poorer delivery of services to customers and a bastardization of the role of government to its people.
Iowa needs to get out of the business of picking winners and losers and get back into the business of overseeing and regulating. Government cannot be expected to keep doing the jobs that have no profits and then cutting their tax revenues too.
