Pot Revenue Is So High in Colorado, State Will Have to Reimburse Taxpayers

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pot

When Colorado decided to legalize the recreational use of marijuana, everyone expected the state’s tax revenue to increase. What they didn’t realize at the time was that the state government might actually make too much money. So far the state has earned over $150 million from the 30% tax on pot, which exceeded expectations.

Now they may have to pay some of that money back to the taxpayers. According to a 1992 amendment to Colorado’s constitution called the ‘Taxpayer Bill of Rights’ when the state earns more than they anticipated from a given industry, they have to return the difference to the people. When pot was first legalized the state didn’t expect a whole lot of money, so they underestimated future profits. Now they’ll have to find some way to give $50 million back to the public.

What’s especially funny about this situation, is how the money-grubbing politicians in Colorado are reacting to the news. Neither political party wants to give up the money, and lawmakers are currently working on a bipartisan bill that would ask the voters if they can keep their loot. I guess there’s only one issue that is guaranteed to unite Republicans and Democrats, and that is taking more money from the public.

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Contributed by Joshua Krause of The Daily Sheeple.

Joshua Krause is a reporter, writer and researcher at The Daily Sheeple. He was born and raised in the Bay Area and is a freelance writer and author. You can follow Joshua’s reports at Facebook or on his personal Twitter. Joshua’s website is Strange Danger .

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  • http://groups.yahoo.com/neo/groups/political_reading_room/ disqus_3BrONUAJno

    T’was me, I’d use the extra money to hire honest, intelligent prosecutors to impeach, indict, and prosecute criminals in the state government. Of course, they might have a hard time finding honest, intelligent prosecutors with the courage to give tyrants what they most richly deserve.

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  • Adam Samsonite

    just get rid of the state’s sales taxes, consumption taxes removed will evenly distribute it back locally

    • Mark

      …and property taxes. Make the people owners, not renters.

  • Mike

    Every taxpayer needs to write them a letter saying I want my money back screw you greedy bastards.

  • AmericanCitizen

    This should push California towards full recreational legalization. They’re too broke not to collect hundreds of millions off their potheads.

    • http://www.shitsenders.com Я0llyJ0g3r

      Ya know, people with cancer who won’t have it anymore may benefit also 😉
      MS sufferers will be able to walk again and use their limbs, children with epilepsy or dravets syndrome won’t have debilitation seizures anymore either so the issue is much bigger than “potheads and taxes” but if that is what it takes to get the uninformed to make a great decision then I am all for it.

    • arahn

      It’s the derogatory slurs like “potheads” that keeps people from thinking rationally about this plant. It was extraordinary propaganda used on ill-educated people that enabled them to outlaw this wonder plant with SO many uses. In order to break their spell we need to stop thinking that people who use this plant are potheads.

      • AmericanCitizen

        Would you be happier if I used “Chemically degraded motor skills combined with hunger pangs and diminished reasoning” instead of pothead?

        • arahn

          You are, unfortunately, a typical AmericanCitizen — why we can’t get things back to good.

          • Greg

            ..that is not the typical AmericanCitizen. That is the loud ones, but not the typical.

        • Greg

          ..not really. I would be happier if you were not bullhorning propaganda, and be a true American, and think about freedom and liberty.

          THey are a concept as to where an individual is free to make choices about themselves.

          ..I know that is a strange concept, but, it is an American one.

          • AmericanCitizen

            What Propaganda? I started out by guessing that broke states like California just got an impetus to legalize something that a lot of people use on a regular basis. Maybe California’s motives will be based on taxation and greed instead of goodwill, but the end result of legalized marijuana will be the same.

          • Greg

            The William Hurst industry propaganda against a plant

          • Zubei

            Maybe Alcohol should be made illegal and Marijuana made legal. Guarantee you would see less fatal car crashes.

        • imustbeacoocoo

          The only one of your descriptions that fit is hunger pangs. Have yet to see ANY loady act as foolish, reckless, or inhibiliated as a drunk who’s all too commonly walking or driving around. AND, never heard of a weed hangover either!

        • Reverend Draco

          I’d be happier if you used reason instead of ignorant fucking bullshit, slackjaw.

          Amazing thing – it turns out that not smoking pot turns people into braindead fuckwits without a clue in the world. . .

        • LaraCroft

          LOL!! Say that 5 times fast….

  • Frank

    Uh, unless there’s something new, this editorial is about six months too late – and the author is struggling for things to write about.
    The solution that Colorado legislators came up with was to put the extra money into the state’s Education program, not give it back to individual CO taxpayers, which most were okay with. But, yes, if the money keeps piling up, there will have to be other avenues of dispensing with the excess revenue – like one-time credits to property taxes, for example. Any change to the state’s Taxpayer Bill of Rights will have to be put to The People for a vote – and its highly unlikely that The People would vote to give the politicians more money for their slush fund. If the additional revenue remains consistent, perhaps they can consider reducing the state Sales Tax.

    • BW83

      Well at least they found a stupid way to use it. Shame there’s little to no evidence that shows increasing education funding leads to better education. Just leads to giving the money to someone else to mismanage.

      Way to turn a potential “win” for the people of the state into a moot point Colorado

  • Tark McCoy

    Meanwhile in Washington State, a greedy vampire sucks 25% from the grower, 25% from the processor and 25% from the retailer, ALONG with a 8% sales tax on top of it all, making ‘recreational’ weed about $900 per ounce…or roughly 3X what you’d pay at a dispensary for the BEST ‘medical’ weed.

    Command Market vs Free Market. The truly Free Market model (medical) is in danger of being extinguished by the vampire that is the state….same as it ever was.

    • whattabunchacrap

      Seattle pot shops are a ripoff. Go to the burbs, I was able to buy a 1/4 ounce at my local shop for $70.

      • http://www.shitsenders.com Я0llyJ0g3r

        I paid $160 for the last ounce I bought, absolute top shelf amazing quality too, super potent, it has to be, my girl is sick and needs it. I sure wish her “medical” coverage actually paid for medicine and not toxic drugs only!

  • MillD

    If this was Massachusetts they’d pass another tax saying the department of revenue needed more people to track all those taxes pouring in……

  • Robin

    California could have been the first state to legalize pot until the nannie nazis put the kibitz on it. Stoking false fears of pot being sold on playgrounds and school yards.

    What idiots!