Can The Golden State Smoke Its Way To Prosperity?While everybody's favorite stoned rapper prepares to release his latest iphone application, “Snoop Dogg’s iFizzle” California lawmakers are busy pushing a bill in Sacramento that would generate nearly $1.4 billion in revenue by taxing and regulating marijuana. The State Board of Equalization report estimates marijuana retail sales would bring $990 million from a $50-per-ounce fee and $392 million in sales taxes.
Clearly West Coast politicos "don't see nothing wrong" with a little puff and swallow, but are the rest of us really trying to walk around in public with a perpetual buzz?
Apparently more Americans are getting use to the proposition, with a recent CBS News poll reporting that 41% support legalization. The question is, at what cost?
This latest attempt to tax folks into oblivion was introduced by San Francisco Democratic Assemblyman Tom Ammiano. The bill would allow adults 21 and older to legally possess, grow and sell marijuana.
Meanwhile Los Angeles City Councilwoman Janice Hahn has proposed that the council consider imposing a tax on sales of medical marijuana.Oakland voters will decide Tuesday on a medical marijuana tax.
"In this current economic crisis, we need to get creative about how we raise funds," Hahn said in a statement. "A tax on medical marijuana could enable the city to continue providing services we might otherwise have to cut."
Hahn's motion was supported by Councilman Bill Rosendahl and Republican Councilman Dennis Zine.
Advocates and opponents do agree that California is by far the country's top pot-producing state. Last year law enforcement agencies in California seized nearly 5.3 million plants.
For the record, marijuana is not completely harmless. As Atlantic Journalist Daniel Indiviglio noted, "Regular use can cause lung cancer, just like cigarettes. Sure, the latter are already legal. And what about productivity? A joint-break in the office isn't exactly going to have the same ramifications to productivity as a cigarette-break. Although snack machine profits will certainly soar."
Overall, there will be undeniable fiscal benefits for any state through taxing marijuana. Not to mention the reduced criminal caseloads, with these misdemeanors filings that accomplish nothing more than bogging down already overcrowded court dockets. Does that, however, outweigh the message it sends our children?
And is that even a legitimate argument in this bleak period where California is issuing IOU's, requiring workers take mandatory work furloughs, laying off employees, reducing wages, and essentially putting the entire region into a deepening funk?
Time will tell.