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California ‘Pot Tax’ May be Reduced

People still buying their pot on the black market to avoid high tax

California Stupid strikes again!

The “genius level” politicians of California have done it again. Not understanding simple economics, the politicians put an additional 15% tax on “pot sales” alongside the regular high sales taxes in the state.

What happened?  People continued to buy their pot on the black market.

Now, these same geniuses are getting a bit more realistic. They are considering reducing the Pot Tax.

From the LA Times:

Alarmed that California’s fledgling legal marijuana industry is being undercut by the black market, a group of lawmakers proposed Thursday to reduce state taxes for three years on growing and selling cannabis to allow licensed sellers to get on their feet.

With many California license holders claiming they can’t compete because of high state and local taxes, the new legislation would cut the state excise tax from 15% to 11% and suspend a cultivation tax that charges $148 per pound.

Including other California taxes and fees, the price of pot increased 45%.

CA voters approved the 15% tax when they voted for the initiative to legalize pot. So add them to the California Stupid Voter Rolls.

Exit Question:

Does anyone really believe these changes will prompt put users to buy “legally”?

Only Californian politicians is my guess…

Written by PatrickPu

Been a cementer from Day 1 and invited to collaborate with Fossten on an Eminent Domain article in March 2016. That "mistake" by Fossten led to me taking a more active blogging role, much to the regret of cementers and other mods alike.

Current focus is on legal issues related to lending, foreclosure, the CFPB and Real Estate in general. Also specialize in "California Stupid" articles, showing how my home state is so totally wacko.

Provides background and context to the issues of the day which frequently sees me tossed in the Sparta Dungeon from what I write.

My dog Gigi assists me in writing, grammar and spell checking. She has her own series, "The Adventures of Gigi" which she writes when not playing, eating, sleeping, or taking walks.

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