California just legalised recreational marijuana

image

http://www.businessinsider.com.au/marijuana-california-weed-legal-economy-2016-11?r=US&IR=T

California is the world’s sixth largest economy, only outpaced by the US (as a whole), China, Japan, Germany, and the UK. The Golden State’s economic output for 2015 came in at $2.46 trillion.

Let’s be clear: We’re talking about a single US state economy compared with those of entire countries. California, on that scale, is number six.

And that’s why it’s such a tremendously big deal that California just fully legalised marijuana, just like Colorado, Washington, Oregon, and Alaska before it.

We’re not talking about de-criminalization, or police de-prioritisation.

We’re talking about alcohol-style regulation and sale of marijuana to adults, age 21 and up. We’re talking about legally allowed personal cultivation, state/local taxation of retail sales/distribution, and re-evaluation of sentences/records for people charged with marijuana offenses.

We’re talking about outright, full-on legalization of marijuana. And in the world’s sixth largest economy, that means billions of dollars.

California’s Proposition 64 passed on November 8, and retail sales are set to begin by January 1, 2018. Residents and visitors can start legally consuming marijuana immediately, as of 12:01 a.m. on November 9, but have nowhere to legally purchase cannabis for recreational use until 2018.

All of which is to say: Tax revenue isn’t going to start rolling in until 2018.

When it does, California’s looking at an additional $1.5 billion flooding into the marijuana market. That number swells to just shy of $3 billion in 2019, and nearly $4 billion by 2020, based on the latest report from New Frontier Data and ArcView Market Research.

And to be clear, that’s on top of the already booming medical marijuana market — the total size of the cannabis market would reach $4.27 billion in 2018, and would grow to $6.45 billion by 2020.

The ballot initiative was overwhelming supported in California: 56% of voters supported Prop. 64, compared to just 44% opposed.

Beyond the tremendous market growth above, the state of California itself stands to earn a substantial chunk of cash from marijuana legalization.

———-

“We’re talking about alcohol-style regulation and sale of marijuana to adults, age 21 and up. We’re talking about legally allowed personal cultivation, state/local taxation of retail sales/distribution, and re-evaluation of sentences/records for people charged with marijuana offenses.”

this was passed on tuesday..its not just medicinal..its now recreational..and it can be grown and harvested like any business..and it will be taxed like any business..thats where the government hits pay dirt..

“When it does, California’s looking at an additional $1.5 billion flooding into the marijuana market. That number swells to just shy of $3 billion in 2019, and nearly $4 billion by 2020, based on the latest report from New Frontier Data and ArcView Market Research.”

something for the stoners out of a crazy election day..

401

Advertisements

~ by seeker401 on November 11, 2016.

12 Responses to “California just legalised recreational marijuana”

  1. everyone i know in the emerald triangle (mendocino, humboldt, and lake counties of northern california) voted against prop 64.

    it was backed by sean parker who is a billionaire (he started napster and was facebook’s president five months in). it’s very cleverly written to squeeze out small growers and favor corporate production – i.e. line the pockets of parker and his friends.

    we already have corporate weed in california. the higher end dispensaries have huge ‘Marley’ (a brand of cannabis) along with Chong and even fucking Whoopi Goldberg. i refuse to use any of it.

    and it won’t be ‘taxed like any other business.’ it will have special taxes that apply only to cannabis.

    as before, the best thing you can do if you are a cannabis user is to grow your own. it’s pretty simple and easy to do.

  2. forgot to add one thing….

    sean parker was recruited and hired by the cia… at age 16.

  3. Reblogged this on World Peace Forum.

  4. australia green light for Hemp Food..

    why now? bbbut why the ban on these years??

    http://www.theland.com.au/story/4627581/need-for-seed-hemp-food-legal-to-sell-and-eat-in-australia/?cs=4963#

  5. Why now ? $ and control.

    Keeps people addicted (and unconscious )and the govt is regulating and profiting even more off the control of a plant!
    If people are stoned on corporate GMO MJ chasing the dragon ( slaves to the pleasure and pain principal )are they going to want to wake up or to roll another joint?

  6. the world suddenly legalises…..

    • not a bad video – some parts are silly though and he never really does anything but speculate about gmo weed. but i do have to point out that the maker is a flat earther, i.e. full of shit.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

 
%d bloggers like this: