Already, tax collections from marijuana in both Washington and Colorado have exceeded everyone’s initial estimates! If the federal government taxed marijuana like they taxed tobacco, it would generate over $500 million every year, with a $23 tax on every pound of product. If the federal government lowered the tax rates minutely, they would still be generating a TON of money from the industry.
I’m sure some marijuana investors and business owners are reading this, frowning, with their arms crossed. Why? Because of competition. If marijuana became legal in all states, competition would increase significantly, spreading their customer funnels, hence a decrease in traffic and eventually sales.
The bad: business owners will have to amp up those advertising dollars to differentiate themselves to its potential customers, convincing them to purchase *their* product in *their* store. The good: customers would have so many more dispensary choices and yes, C H E A P E R weed! If marijuana is legalized nationwide, the prices of marijuana would drop substantially across the board, per ounce of course. Those who are interested in trying marijuana for health reasons but cannot currently afford this form of treatment (as it is not completely covered in health insurance plans….yet), will definitely benefit from the drop of prices. Affordable medicine is always of the utmost importance. Even prices for companies who develop cannabinoid-based drugs would appreciate nationwide legalization as their production costs would decrease, and hopefully they would drop their prices on their amazing products.
If you’ve been paying attention to the news, you’ll realize the movement is steadily moving forward, specifically with the CARERS Act of 2015. Yes, I spelled it right, it’s CARERS and not CAREERS. Essentially, this bill was provides access to research into the medical properties of marijuana. We all know what comes along with research – that’s right – education. The CARERS Act would prohibit banks from punishing organizations associated with marijuana. Last but not least, it would move marijuana from a Schedule I to a Schedule II under the federal drug classification system. That means it’s no longer on the same level as ecstasy and heroine, which is unbelievably unjust as marijuana is considered to be way less harmful!
So, would it be great if they moved marijuana to Schedule II? YES! Would it be great if marijuana was cheaper? YES! Would it be great if these Colorado implants stopped clogging up our freeways? Ab-so-freakin-lutely!
Side note: No offense to the newbies in Colorado, we love you, and we appreciate you, we just all agree that you should start commuting at 8pm instead of 5pm.
By Shameika Ejiasi
