"Could there possibly be something that more perfectly captures the essence of California than a story about the over-taxation of legal marijuana?"
"...advocates warned the legal industry won’t survive without big changes…said Steve DeAngelo, co-founder and CEO of Harborside in Oakland. “At the same time, I’m terrified about what’s going to happen with these taxes.”
... "Total taxes: 34.25 percent. …In addition to taxes, marijuana regulations drive up the cost."
"Excessive government and lifestyle liberalism. A perfect summation of California.
By the way, even though I’m a social conservative-style teetotaler, I agree with the pot legalization. But I have mixed feelings because I don’t want politicians to get more money to waste.
Though I am happy that people have the option to still use the underground economy."
... "Yet another example of the Laffer Curve, which is simply the common-sense notion that marginal tax rates impact incentives."
... "When taxes are too high, there’s either less taxable activity or the activity moves where the government can’t tax it. In other words, higher tax rates don’t necessarily mean higher tax revenue.
And it definitely means revenues will never be as high as the pro-tax crowd would like.
Such a simple concept that even some leftists are catching on.
This may lead California to lower tax rates, as has happened in other states."
https://fee.org/articles/california-pulls-a-california-on-legal-marijuana/
By the way, even though I’m a social conservative-style teetotaler, I agree with the pot legalization. But I have mixed feelings because I don’t want politicians to get more money to waste.
Though I am happy that people have the option to still use the underground economy."
... "Yet another example of the Laffer Curve, which is simply the common-sense notion that marginal tax rates impact incentives."
... "When taxes are too high, there’s either less taxable activity or the activity moves where the government can’t tax it. In other words, higher tax rates don’t necessarily mean higher tax revenue.
And it definitely means revenues will never be as high as the pro-tax crowd would like.
Such a simple concept that even some leftists are catching on.
This may lead California to lower tax rates, as has happened in other states."
https://fee.org/articles/california-pulls-a-california-on-legal-marijuana/