Legal Marijuana Could Be Tax Windfall, But Skeptics Abound
“Jobs for our people. Money for schools. Who could ask for more?”
A catchy pro-marijuana jingle for Colorado voters considering legalizing the drug goes like this: “Jobs for our people. Money for schools. Who could ask for more?”
It’s a bit more complicated than that in the three states – Colorado, Oregon and Washington – that could become the first to legalize marijuana this fall.
The debate over how much tax money recreational marijuana laws could produce is playing an outsize role in the campaigns for and against legalization – and both sides concede they’re not really sure what would happen.
At one extreme, pro-pot campaigners say it could prove a windfall for cash-strapped states with new taxes on pot and reduced criminal justice costs.