Saturday, March 14, 2009

California to legalize and tax marijuana to fix budget crisis. It's about time.

California is at the vanguard of new taxation strategies. The state is the 8th largest economy in the world--meaning that California has a greater GDP than the vast majority of the world's countries.

Yes, you read that correctly.

I've frequently noted that as California goes, so goes the rest of the country in ten years.

California is suffering a serious budgetary crisis and needs new revenue streams. A state legislator is offering up a bill legalizing marijuana.

In my opinion, California is taking steps that should have occurred years ago. The proposal would allow adults to buy cannabis and pay a tax.

Since marijuana is one of the highest cash crops in the state, the treasury will have scads off cash.

I see marijuana legalization as the next lottery or casino for many states.

We'll see.

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