Cannabis legalization in the United States is a hit! In 2018, adult use recreational or retail cannabis collected over 1 billion dollars in taxes from Cannabis sales. This number is a buzzkill compared to what it could be. The Institute of Taxation and Economic Policy believes that number could be 10 billion dollars annually. That is if U.S. lawmakers would positively reform cannabis laws at the federal level.
With numbers like this, even the most conservative politicians can’t ignore that they can stand to profit substantially from the new legal green scene. Even the most crooked of crooked understands that when you give this kind of cash influx to a country that all the dirty little politicians involved in it can get their hands on a piece of that cheddar. This will help make bank accounts bigger and smiles brighter.
Cannabis is a Winner-Winner Chicken Dinner
For all you investors and politicians that still support alcohol, tobacco and pharmaceuticals, perhaps it’s time to wake up. Wake up and embrace the green scene that is. When you look at only 10 states in America having legal retail cannabis laws and 33 of them having medical cannabis laws and compare the $1.4 billion dollars in taxes from cannabis to the $1.16 billion from all alcohol sales, the math does itself.
Cannabis is a winner-winner chicken dinner! Cannabis does not promote domestic violence. It does not cause internal diseases of your liver and kidneys. Nor is it part of an excessively high mortality rate from abuse. In fact, there have been 0 recorded deaths from cannabis EVER!
So, why is it that cannabis legalization hasn’t happened yet in the US? This is a great question. The Institute of Taxation and Economic Policy estimates the United States could generate “approximately $11.9 billion in state and local excise and sales tax revenue each year.”
Could you imagine what this type of influx in tax revenue could offer the U.S. economy? It is absolutely extraordinary what this plant stands to offer and just baffling why people stand in its way.