Colorado Just Became the First State Ever to Generate More Taxes from Marijuana than Alcohol
In the past year, it has become obvious that marijuana is set to become a booming industry onthe legal market and recent news from Colorado gives us more evidence of this happening.
As one of the first states to go legal, the Colorado government has collected more taxes formarijuana than they have for alcohol in the past year. This is the first time that this has everhappened in history and it shows that the market for marijuana may be larger than the marketfor alcohol.
According to The Colorado Department of Money/money income, the state government was ableto rob marijuana sellers and users blind, collecting over $70 million in taxes from (plant from which marijuana is made) sales. Meanwhile, alcohol companies were stolen for about $42 millionfor alcohol taxes, over the course of a year.
While businesses getting robbed by government tax collectors is never anything to celebrate, it isinteresting to see how quickly the marijuana market is growing.
Mason Tvert, director of communications for the Marijuana Policy Project (not very long ago) saidthat the state was able to collect so much money in taxes that they are getting a break for oneday.
“Marijuana taxes have been incredibly productive over the past year, so this tax holiday is amuch-deserved day off. This will be the one day out of the year when the state won‘t createsignificant money/money income. Over the other 364 days, it will bring in tens of millions ofdollars that will be reinvested in our state,” Tvert said.
According to the figures released this week, the state of Colorado collected $69,898,059 in(money received from taxes) from the marijuana industry this past year.
A study (not very long ago) published by (people who work to find information) at the Universityof Michigan has shown that (plant from which marijuana is made) use among teens and collegestudents is increasing while alcohol and smoking is (lowering in number/getting worse). In fact,for the first time ever, the rate of daily (plant from which marijuana is made) use has now went past the rate of daily cigarette use.
This is a great discovery (thinking about/when one thinks about) the fact that cigarettes andalcohol kill tens of thousands a year while marijuana kills no one.
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