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In reply to the discussion: Newest poll: 59% of Americans want marijuana legalized [View all]RainDog
(28,784 posts)11. Colorado tax enforcer to ’60 Minutes’: Weed beat the recession in Denver
http://www.rawstory.com/rs/2012/10/22/colorado-tax-enforcer-tells-60-minutes-weed-beat-the-recession-in-denver/
The economic impact on Denver? According to Matt Cook, a former narcotics officer who oversees enforcement at the Colorado Department of Revenue, its huge.
The economic impact on Denver? According to Matt Cook, a former narcotics officer who oversees enforcement at the Colorado Department of Revenue, its huge.
Cook helped write the states medical marijuana law, and works as a consultant for medical marijuana businesses in the state. Speaking to 60 Minutes, he said that the industry accounts for over a million square feet of lease space in the Denver area.
Look at all the electrical contractors, HVAC contractors, he said. The number of ancillary businesses its huge. Tax revenues exceeded, I believe the last number I heard was an excess of $20 million.
While the states taxes on marijuana actually took in about $5 million during 2011, it certainly could spike as high or higher than Cook said: a recent study by the Colorado Center on Law and Policy found that legalized marijuana could pull in about $24 million in new revenue from an excise tax on marijuana production alone.
The report adds that state sales taxes on pot could generate up to $8.7 million more, with local governments seeing an additional $14.5 million just in the first year. Savings on enforcement and incarceration during that same period would also top more than $12 million, the group said.
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We'll put that to the test on election day in Washington, Colorado, and Oregon.
Comrade Grumpy
Oct 2012
#3
Screw 'em, let them move to a nation that lives in a democratic reality. nt
DollarBillHines
Oct 2012
#5
Yep, and Americans across party lines also want to protect Social Security benefits.
woo me with science
Oct 2012
#9