Marijuana Taxation in California to Yield Abundant Profits
Cannabis May Become Legalized for Mass-Sale in Oakland, CA-
Jeff Wilcox, a businessman in California’s Bay Area, recently persuaded Oakland to legalize industrial-sized cannabis farms by promoting a study which promises millions in city taxes and hundreds of high-paying union jobs. According to Wilcox, his nonprofit business model will be less like Google or Apple and more like Trader Joe’s — a low cost California gourmet grocery chain. The store’s most notorious product is its $2 per bottle Charles Shaw wine, known as “Two Buck Chuck”, and is considered a great selection for the price. “The new Two Buck Chuck will be $40 an ounce pot,” Wilcox said in an interview. He explained that botique growers could produce the high-end stuff in their “gardens”, while he supplied the public with a clean, controlled, great-value product.
Economists view mass-legalization and sale of marijuana as a multi-billion dollar market that could potentially bail the entire U.S. out of its deficit and position the nation as a superpower once again. Not to mention, the legalization would halt the illicit and harmful activities of drug cartels. One recent study predicted California marijuana would under price high-quality Mexican imports in virtually every city in the United States, even including the costs of smuggling and state taxes. There will always be opposers to such a delicate subject, though, and the probability of the drug being legalized throughout all of America is highly unlikely. A more promising path to legalization, however, is Proposition 19, which would allow local governments to decide whether and how to regulate sales and cultivation of marijuana and would let anyone in the state 21 years or older use it at their discretion. A newly-released study by the independent state Legislative Analyst’s Office says that Prop 19 could potentially raise hundreds of millions of dollars over time. The legalization and taxation of cannabis has been gaining support for years. According to state accountants, if a bill in the state legislature would legalize pot and charge $50 an ounce tax, the profit margin would be around $1.4 billion annually.












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