Legalizing and Taxing Marijuana

November 16, 2009 2:30pm by Barry Ritholtz

I expect over the next few years, we will hear all manner of suggestion as to how to close the Federal deficit. Sin taxes already exist on alcohol, tobacco, gambling — they filled a revenue void when passed.

How long is it before the next few taxable products get taxed: First Hemp, then Marijuana. Sloshspot estimates a substantial tax benefit, plus big savings in enforcement and incarceration:

click for bigger graphic

As the deficit gets larger, this one actually has a non-zero chance of passing . . .

Source:
If Marijuana Production Were Legal: Projected Tax Revenues, by State
Sloshspot, November 13, 2009
http://www.sloshspot.com/blog/11-13-2009/If-Marijuana-Production-Were-Legal-Projected-Tax-Revenues-by-State-245

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