In November of 2012, Colorado and Washington became the first states to actually legalize marijuana.
For years, teenagers and adults with a marijuana habit have had to dig deep in order to find someone selling the drug. Medical marijuana laws began to simplify the process a few years ago, and now, Colorado is about to be the first state to take the next step.
In November of 2012, Colorado and Washington became the first states to actually legalize marijuana. The legalization law in Colorado passed by a vote of the people, 65 percent of whom approved the idea of legalizing recreational marijuana use. Buyers will now be able to legally purchase weed in state-regulated retail stores, provided that they are 21 years old. Purchase quantities will also be limited to an ounce or less at a time, an amount that CNN says could still go for as much as $200 in most retail stores.
Now, with the new law finally looming as a reality – it goes into effect in Colorado on New Year’s Day – Reuters has reported that new marijuana retailers are at last stocking their shelves and getting ready to open for business. Considering the massive global and cultural significance of the legalization – these new Colorado retailers will be the first in the United States to offer out-in-the-open marijuana sales for recreational users – the stores are expecting a big influx of business for opening day. Storeowners interviewed by Reuters think they could see everything from lines out the door to sold out stocks. In short, they expect the nation’s first taste of legalized recreational pot to be a very in-demand commodity.
That demand should help the newly established marijuana retailers to kick their businesses into high gear from the get-go while also bringing a nice cash flow to the Colorado state government. Weed sales will be subject to a jaw dropping 25 percent state tax on top of the state’s usual 2.9 percent sales tax. Needless to say, buyers who want to partake in the drug will pay handsomely to do so.
In addition to the heavy taxation of the drug, the legalization of marijuana is also expected to save taxpayers a lot of money in the long run, as it will put an end to numerous government anti-drug or prohibition initiatives. Analysts believe that the Colorado legalization will be a turning point of sorts for America’s drug culture, and that it will begin putting cracks in the foundation of the U.S. government’s long-fought (and long-failing) “War on Drugs.” By stopping the fight against marijuana, the government will save American taxpayers tens of millions of dollars in unnecessary spending.
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