Legalization of recreational use of marijuana will be on the November 8 ballot where voters will decide.
California has just enacted new tobacco laws requiring tobacco users to be a minimum of 21 years of age. Now Californians are about to vote on whether or not they can legally posses marijuana at the same age recreationally. The California state ballot on Nov. 8 will include Proposition 64, proposing that the usage and possession of marijuana be legalized for adults 21 and older for recreational purposes.
This proposition could also be a significant source of tax revenue, that could have a positive impact on California. This would create two new types of tax: cultivation and retail.
According to TIME, Marijuana alone raised more $70 million in taxes compared to the $40 million raised in alcohol in Colorado, which is one of the four states that has already legalized marijuana recreationally and has received the positive benefits coming from it.
Not only that, but the usage of marijuana does less harm to individuals than the usage of tobacco or alcohol. Whether the usage of marijuana is apart of your daily life or not, one should really think about the benefits the state can receive from the legalization of weed. Not only the state, but it could have a fiscal impact nationally.
California has the sixth largest economy in the world and if marijuana becomes legalized, then it could potentially be a huge influence to the rest of the country.
The initiative exceeded 402,468 projected valid signatures qualifying it. The initiative statute imposes that a 15 percent sales tax would be equal to the retail sales of marijuana. The state cultivation taxes on marijuana would be $9.25 per ounce of flowers and $2.75 per ounce of leaves.
With the assumption of at least 7 billion a year of retail sales of marijuana, which is extremely likely to happen, there could be more than 1 billion increase of tax revenue annually. It’s time for California to hop on the bandwagon with Colorado, Washington, Oregon and Alaska and to take advantage of what marijuana really has to offer. And let’s be real here, we all know how California will surpass sales when it comes to being apart of the pot world.
This November might be the real deal when it comes to the pot business, and this poll is expecting about 60 percent support from Californians this ballot.
As stated in the official voter information guide, the pros of the legalization of marijuana is that “[legalizing marijuana] creates a safe, legal system for adult use of marijuana. It controls, regulates and taxes marijuana use, and has the nation’s strictest protections for children. It provides billions for after school programs, job training, drug treatment, and cracking down on impaired driving.”
Restrictions will be active if this proposition becomes approved and finalized after November: marijuana usage while driving or in a public place (other than business licensed for purpose), growing in area that is unlocked or visible to public and providing marijuana for minors under 21 or non-medical users.
Activities that will be allowed if the proposition is approved and finalized: smoking marijuana in private home or licensed business, possession of up to 28.5 grams and eight grams of concentrated marijuana, growing up to six marijuana plants within private home and giving away up to 28.5 grams and up to eight grams of concentrated marijuana.
Photo credit: Rotational (Own work) [Public domain], via Wikimedia Commons