COLORADO ROCKY MOUNTAIN HIGH …
According to accounts, state retail sales of recreational, legal pot were over $5 million in the first week. Of course some of these sales represents a first time roll-out buying of pot and one would think, or at least hope this is not a consistent amount of sales. Colorado, the first state to allow retail recreational marijuana sales to adults age 21 and older. Colorado is projecting about $600 million in combined wholesale and retail marijuana sales annually and here lies the rub, they expect to collect nearly $70 million in tax revenue.
But what is the real cost here? Are states willing to look the other way with any moral or social issues in order to bring in tax revenue? PJ Media asks an important question, Will Colorado Regret Legalizing Marijuana? It is rather amazing and sad the direction our country is taking. The American people are presented with so many rules and regulations as to what they can and cannot buy. Some how we are no longer allowed to buy an incandescent light bulb and we are made to feel like lepers for buying large sodas … but pot is legal.
Colorado, the first state to allow retail recreational marijuana sales to adults age 21 and older, has projected nearly $600 million in combined wholesale and retail marijuana sales annually. The state, which expects to collect nearly $70 million in tax revenue from pot sales this year, won’t have its first official glimpse at sales figures until Feb. 20, when businesses are required to file January tax reports, according to Julie Postlethwait of the state Marijuana Enforcement Division.
Denver’s 9News was first to report statewide retail sales on New Year’s Day, the first day legal pot shops were allowed to operate, exceeded $1 million. Interest dropped in the days that followed, according to shop owners, but many reported customers still waiting in lines out the door.