I PERSONALLY DON'T CARE ONE WAY OR THE OTHER, EXCEPT IT APPARENTLY HAS SOME BENEFIT FOR CHRONIC PAIN RELIEF, BUT AFTER DECADES OF DEBATE ABOUT THE PROS AND CONS, IT JUST COMES DOWN TO WHAT THE GOVERNMENT CAN MAKE OUT OF IT.
California pot tax 'would rake in $1.7b'
July 16, 2009 - 8:54AM
California tax officials say a state proposal to tax and regulate marijuana like alcohol would generate nearly $US1.4 billion ($A1.76 billion) in revenue.
A State Board of Equalisation report released on Wednesday estimates marijuana retail sales would bring $US990 million ($A1.25 billion) from a $US50 ($A63)-per-ounce fee and $US392 million ($A493.45 million) in sales taxes.
The bill introduced by San Francisco Democratic Assemblyman Tom Ammiano in February would allow adults to legally possess, grow and sell marijuana.
Ammiano has promoted the bill as a way to help bridge the state's $US26.3 billion ($A33.11 billion) budget shortfall.
As the bill is written, the state could not begin collecting taxes under the bill until the federal government legalises marijuana.
A spokesman says Ammiano plans to amend the bill to remove that provision.
© 2009 AP