States are losing out on billions of dollars by keeping pot illegal

Discussion in 'Business & Economics' started by Plazma Inferno!, May 17, 2016.

  1. Plazma Inferno! Ding Ding Ding Ding Administrator

    The federal government and most states are throwing away $28 billion in yearly tax revenue by not legalizing marijuana, according to a new analysis from the Tax Foundation, an independent think tank.
    The bulk of that revenue -- 20.5 billion of it -- would accrue to states through the collection of excise taxes on marijuana sales, general sales taxes, and income and payroll taxes levied on workers and businesses in a mature legal marijuana industry.
    The federal government would take in another 7.5 billion dollars, primarily from income and payroll taxes, and 500 million in excise taxes if marijuana were to be taxed the same way tobacco is.

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