Governator Caught Between A Toke And A Windfall

The Governator is looking down the smoking barrel of a legal marijuana state come the November elections. Predictions are mixed, but proponents would be wise to push the economic upside as hard as possible. Taxpayers in Cali are in way over the heads and need some cash, like, now, man. And bud is a great cash crop, especially if taxed high like cigarettes or alcohol. Economic impact projections vary widely for some obvious reasons like crop size, participation, related incrementals, enforcement savings and all that – but at the low end it’s US$1.5 billion while some aggressive (and likely succcessful) taxation could push it to the high end of about US$15 billion. And with a US$40 billion shortfall right now, the Governator should roll a big bob and get on with making some money.

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