Tag: tax revenue

Why Not Solve Maryland’s Tax Issues By Legalizing Marijuana?



On January 1, Colorado stores sold their first legal marijuana to eager consumers — and so far, society hasn’t collapsed into chaos. Assuming that the state manages to hold itself together for the rest of the year, it may wind up with $40 million thanks to the hefty (25%) tax on recreational marijuana, the Denver Post estimates. (Colorado has already decided to spend its first chunk of pot money on school construction.) And that kind of revenue is already causing plenty of other states with budget deficits to sit up and take notice.

On Friday, the president of the Maryland Senate, Mike Miller, came right out and said it: “I favor the legalization and taxation of marijuana, with restrictions.” That’s a big deal, since Miller is known for being relatively conservative, as far as Democrats go; as the Daily Beast points out, he opposed both same-sex marriage and abolishing the death penalty.