I predicted that States who legalize marijuana for recreational use, will automatically raise taxes to the point that once again a black market will flourish. Here's your proof our government hasn't learned a danged thing. All those "real smart people" over in California, ain't so smart after all. By raising prices to an unrealistic level, the government becomes the drug cartel.
When 70% of the population believes marijuana is not the threat we have been led to believe, our government needs to quit stone-walling and legalize/decriminalize pot at the Federal level.
"Meanwhile, high taxes rates are taking their toll in the United States. California continues to shake the change out of consumers' pockets by levying a state and local tax, 15% excise tax, and wholesale tax on recreational cannabis sales. And, mind you, this tax rate is going up on Jan. 1, 2020, and doesn't include other expenses, such as laboratory testing, that you can rest assured are being factored into the final cost of the product.
The point is, illicit producers are having a field day throughout much of North America at marijuana stock investors' expense in 2019."
https://www.fool.com/investing/2019/12/22/the-cannabis-industry-hit-a-home-run-with-this-ann.aspx
"On Dec. 12, Major League Baseball (MLB) and the Major League Baseball Players Association (MLBPA) announced changes to the league's drug policy. MLB and MLBPA agreed to remove marijuana from the list of banned substances in an effort to better align the league with changing policies at the state level. As a reminder, 33 states have passed legislation legalizing medical marijuana, with 11 states also allowing adult-use consumption."
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