Pot tax would bring california $1.4 billion in revenue. (Orange, Commerce: sales, to buy)

[Apples&Oranges]

A bill to tax and regulate marijuana in CA is in the works.

The state Board of Equilization report estimates retail sales of pot would bring $990 million from a $50 per ounce fee.

About 443,000 signatures are necessary to place the Tax, Regulate and Control Cannibis Act on the 2010 ballot.

The measure would repeal all state and local laws that criminalize cannibis.

Anybody have any more details? This was in my newspaper today, from the Associated Press.

[nmnita]

Originally Posted by Apples&Oranges

A bill to tax and regulate marijuana in CA is in the works.

The state Board of Equilization report estimates retail sales of pot would bring $990 million from a $50 per ounce fee.

About 443,000 signatures are necessary to place the Tax, Regulate and Control Cannibis Act on the 2010 ballot.

The measure would repeal all state and local laws that criminalize cannibis.

Anybody have any more details? This was in my newspaper today, from the Associated Press.

this is not new, it has been in the works for months and will probably stay right there, in the works. At least for the time being.

NIta

[Apples&Oranges]

It was in my newspaper today, quite a long article. I think they will start gathering signatures now.

[cobmw]

If anything goes in order to separate people from their money then why not legalize prostitution? I should think it would bring in a lot of money from licenses and taxes. Then allow gambling everywhere throughout the state and tax it too. California's financial problems should be solved for a while. The Democrats can go back to spending all their new found money.

[bhcompy]

And yet it would still be illegal federally, and federal law overrules state law. True, the current AG said they are going to lay off for now, but the $$ to be had is hard to pass up for a cash strapped govt, and there is no telling what the next administration will do.

[MisterDuke]

That's too much tax. The tax needs to be lowered.

[nmnita]

Originally Posted by bhcompy

And yet it would still be illegal federally, and federal law overrules state law. True, the current AG said they are going to lay off for now, but the $$ to be had is hard to pass up for a cash strapped govt, and there is no telling what the next administration will do.

exactly. that is something many people do not realize.

Nita

[jillz]

Originally Posted by nmnita

exactly. that is something many people do not realize.

Nita

Last year all the places in my town were closed because the DEA threatened the landlords with seizing their property. Once Obama got into office and has said the DEA will not raid medical dispensaries, they re-opened. I just hope it lasts. It brings in a lot of $$ in state and federal taxes.

[majoun]

Originally Posted by nmnita

exactly. that is something many people do not realize.

Nita

If said proposition did pass it would be a signal to the federal government to change the laws. Seveal DEA internal panels have advocated rescheduling marijuana to Schedule 3 or Schedule 4 and if CA legalizes pot than the feds could change.

BTW the federal government's power to ban marijuana is rooted in the Interstate Commerce Clause. If said marijuana was entirely grown in California and sold within California than the feds would have no power to do anything.

[bhcompy]

Originally Posted by majoun

If said proposition did pass it would be a signal to the federal government to change the laws. Seveal DEA internal panels have advocated rescheduling marijuana to Schedule 3 or Schedule 4 and if CA legalizes pot than the feds could change.

BTW the federal government's power to ban marijuana is rooted in the Interstate Commerce Clause. If said marijuana was entirely grown in California and sold within California than the feds would have no power to do anything.

The federal government would never get away with it. Too many people are against it nationally, not to mention how it would affect federal and state prison populations.

And you think people wouldn't come here to buy it? People goto Nevada for legal fireworks and prostitution and, hell, people fly all the way to Holland for legal weed. I think it's easy to state they would come here as well.