There is something that people keep saying about Marijuana that it is going to be a huge windfall for the Colorado government. They could have additional revenues of 100 million dollars.
But I don't understand the assumption they are using. They make it out as a binary choice: You can legalize marijuana and receive the 100 million dollars, or go with out.
But can't the state just raise taxes on everything else? If the state needs 100 million dollars, they can raise it on the existing base. It seems independent of any other issue.
Now, there is more economic activity and greater welfare as people are now able to spend money on higher preferences, but that is not what the state is measuring. They actually seem to act like that is the negative rather than the positive.
I feel like I live in a bizarro world. The good thing about legal marijuana (people who like to get high can get high) is seen as a bad thing, and the bad thing is seen as a good thing.
But I don't understand the assumption they are using. They make it out as a binary choice: You can legalize marijuana and receive the 100 million dollars, or go with out.
But can't the state just raise taxes on everything else? If the state needs 100 million dollars, they can raise it on the existing base. It seems independent of any other issue.
Now, there is more economic activity and greater welfare as people are now able to spend money on higher preferences, but that is not what the state is measuring. They actually seem to act like that is the negative rather than the positive.
I feel like I live in a bizarro world. The good thing about legal marijuana (people who like to get high can get high) is seen as a bad thing, and the bad thing is seen as a good thing.
via JREF Forum http://ift.tt/1fxc04i
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