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wildbilln864

(13,382 posts) Sun Feb 1, 2015, 01:25 AM Feb 2015

Pot Is Making Colorado So Much Money They Literally Have To Give Some Back To Residents [View all]

Source: DENVER (AP)

" DENVER (AP) -- Colorado's marijuana experiment was designed to raise revenue for the state and its schools, but a state law may put some of the tax money directly into residents' pockets, causing quite a headache for lawmakers.

The state constitution limits how much tax money the state can take in before it has to give some back. That means Coloradans may each get their own cut of the $50 million in recreational pot taxes collected in the first year of legal weed. It's a situation so bizarre that it's gotten Republicans and Democrats, for once, to agree on a tax issue.

Even some pot shoppers are surprised Colorado may not keep the taxes that were promised to go toward school construction when voters legalized marijuana in 2012."

Read more: http://www.hightimes.com/read/pot-making-colorado-so-much-money-they-literally-have-give-some-back-residents

35 replies

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Pot Is Making Colorado So Much Money They Literally Have To Give Some Back To Residents [View all] wildbilln864 Feb 2015 OP

Imagine that. 99th_Monkey Feb 2015 #1

Great story - voters in other states need to know of this aint_no_life_nowhere Feb 2015 #2

K&R DeSwiss Feb 2015 #3

You and I obviously Aerows Feb 2015 #16

There is a budget surplus, but the marijuana tax revenue is only a small part of it progree Feb 2015 #17

Exactly. CentralMass Feb 2015 #18

That's what I thought too. AllyCat Feb 2015 #32

Agree Telcontar Feb 2015 #34

Of course! Newest Reality Feb 2015 #4

That is "High Times" former9thward Feb 2015 #5

That is "CNN" eShirl Feb 2015 #7

In fact, it's an AP article picked up by High Times NoGOPZone Feb 2015 #10

The story is much more nuanced than the High Times title implies (likewise the OP's excerpts) progree Feb 2015 #11

Damn, why is my state's way so lame in so many ways! freeplessinseattle Feb 2015 #6

I am just enjoying that it's legal marlakay Feb 2015 #9

Prohibition is a failed public policy, again. nt TeamPooka Feb 2015 #8

I am surprised that WA state is so incompetent at this. jtuck004 Feb 2015 #12

Late Breaking News forum rules requiring keeping the original title progree Feb 2015 #13

heh! BlancheSplanchnik Feb 2015 #14

As much pot as Oklahomans grow... NaturalHigh Feb 2015 #15

Natural solution is to cut the pot tax. joshcryer Feb 2015 #19

$7.63 that could go to schools or services? frazzled Feb 2015 #20

That Rolling Stone summary of the AP article is way different than the AP article! progree Feb 2015 #21

How about having everyone with a single income below $50k or $100k married pay no state income tax? Crowman1979 Feb 2015 #22

Smoking POT doesn't affect memory, but POLITIC will! Johnny Rash Feb 2015 #23

Shifting the tax burden onto the working class with regressive taxes Taitertots Feb 2015 #24

How come it took so long for someone to say this . . . . Spooky69 Feb 2015 #25

If I had to guess. It is because non-smokers just don't care... Taitertots Feb 2015 #26

Are there not roads to be built? packman Feb 2015 #27

Talk about short sighted . . . . Spooky69 Feb 2015 #28

short sighted is what our country is these days demigoddess Feb 2015 #29

This may be great incentive for other states to do the same thing pathansen Feb 2015 #30

The problem is that the price of marijuana will skyrocket and corporate America >>> YOHABLO Feb 2015 #31

the $$$ surge won't last forever quadrature Feb 2015 #33

Up in smoke BadGimp Feb 2015 #35