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Bringing in the Green: Projected Tax Revenue if Marijuana Legislation Passes

Turbo Tax has created an interactive comparison of projected tax revenues should marijuana decriminalization laws pass, such as I-502 in Washington.

Today, the states of Washington, Colorado, and Oregon take decriminalization of  non-medicinal marijuana to vote. 

The state initiatives in these four states (Initiative 502 in Washington) would allow adults over 21 to buy taxed, inspected marijuana at state-licensed shops. Turbo Tax visualizes how much state tax revenue these initiatives would generate based on usage, and show you how much already legal medical marijuana impacts the 17 states where it is allowed.

Follow this link to check out Turbo Tax's interactive feature and compare Washington's projected $22 million in revenue with other states.

 

Do you think the $22 million projected sales tax revenue for Washington is worth the risk of potential negative effects?

Justin Evans November 06, 2012 at 06:09 PM
It's not so much the financial impact that it will bring into the state, it's the freedom that the people will recall from the Government. I'm not a user, never even tried it, but it is a victim-less crime. It will help ease the burden on our law enforcement officers and on our local and state jails and prisons. It's a naturally grown herb and is far safer than the effects of smoking or drinking. There is too much of a stigma attached with it when in reality it's a pretty inert drug. Its not a gateway drug. If people want to do other drugs, they will do other drugs, with or without marijuana. It's legal in many other countries and without consequence or incident. It's time we get off our high moral horse and take back some of the freedoms we've been denied. People shouldn't judge others because they sin differently.

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