Do Some Good With a Weed

Here is a NEWS FLASH: The State of Colorado netted $3.5 million in tax revenue from the sale of recreational and medical marijuana in January of which, $2 million was directly from recreational sales.

You read that right; sales of pot in The Rocky Mountain State are in line with expectations for the first month. Governor John Hickenlooper expects revenue to increase each month going forward.

By January 31, there were 59 applications for dispensaries to be licensed to sell marijuana. By mid-February, there were 163 retail stores open for business. Each month should see a continued growth in licensed dispensaries for both recreational and medical sales.

The Governor expects the state to realize $610 million for the first full fiscal year. In future years, that number could well be over $1 billion dollars. That offsets a lot of state debt doesn't it?

English: Great Seal of the State of Colorado (Photo credit: Wikipedia)

Monday's late edition of USAToday reviewed other areas where the state will benefit from the sale of the weed.

Other states are watching with great interest to see how this plays out in Colorado, and in Washington State this summer. Presently, there are 20 states plus the District of Columbia which have legalized it for medical reasons, including Colorado and Washington. For the other 19 entities, the basics are already in place. To turn the on switch to legalize recreationally requires legislation and away they go.

If Colorado reaches that billion dollar threshold in fiscal 2015, those states might just get on board ASAP. Other states will follow suit, just to not be left behind. That is a lot of deficit and debt which could magically disappear in the smoke and in the haze.

If all 50 states legalize marijuana and you know they will, what do you think the Federal government will do? Throw all the citizens in the country in "Pot Prison"? That is absurd. 

The federal government could add an excise tax on top of the state taxes and people will continue to buy. Think of all the taxes and fees on alcohol and tobacco. People will pay those taxes if they feel they are getting good bang for the buck or in this case, a good toke or two.

So, this year will be very telling for the nation as we watch what happens in Colorado and Washington this summer. Here is an idea; The President keeps talking about his phone and his pen. Why not do some good, sir, and end the fear of federal reprisal to the states and their citizens, the buyers, the growers, the dispensaries and the messengers. 

It really is about time for the federal government to follow the states' leads and get on board. It is inevitable, so why not do the logical?

Legalize it now and reap the rewards. In so many ways, it really is time to recognize ALL the benefits of marijuana.