Here's an interesting piece in Time. Seems Democratic state assemblyman Tom Ammiano has introduced legislation that would let California regulate and tax the sale of marijuana. The state's proposed $50-per-oz. pot tax would bring in about $1.3 billion a year in additional revenue.
An excerpt: ... supporters of legalization may have been handed their most convincing factor yet: the bummer economy. Advocates say that if state or local governments could collect a tax on even a fraction of pot sales, it would help rescue cash-strapped communities. Not surprisingly, the idea is getting traction in California, home to the nation's largest supply of domestically grown marijuana (worth an estimated $14 billion a year) and biggest state budget deficit (more than $26 billion).
I don't care. Smoke as much of the stuff as you want, but it won't make the economic picture look any better.
(Photo by Mike Hutchings / Reuters)
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