Legalizing marijuana nationwide would create at least $132 billion in tax revenue
Legalizing marijuana nationwide would create at least $132 billion in tax revenue and more than a million new jobs across the United States in the next decade, according to a new study.
The analysis shows that if marijuana were fully legal in all 50 states, it would create at least a combined $131.8 billion in in federal tax revenue between 2017 and 2025. That is based on an estimated 15 percent retail sales tax, payroll tax deductions and business tax revenue.
The federal government would reap $51.7 billion in sales tax from a legal marijuana market between 2017 and 2025, entirely new revenue for a business that remains illegal — and unable to be taxed — federally.
The business tax rate for the study was calculated at 35 percent.
The study also calculates that there would be 782,000 additional jobs nationwide if cannabis were legalized today, a number that would increase to 1.1 million by 2025. That includes workers at all ends of the marijuana supply chain, from farmers to transporters to sellers.
Strain Review: San Fernando Valley Kush
It will be hard not to fall in love with the smooth sugary smoke produced by the SFV Kush strain. The effects will set in almost instantly; first relaxing the mind, and then making the limbs throughout the body heavy. The Ghost OG in the genetics definitely will have you feeling completely care-free, painless, and will really boost your appetite.
Indica Vs. Sativa
- Indica strains are believed to be physically sedating, perfect for relaxing with a movie or as a nightcap before bed.
- Sativas are said to provide invigorating, uplifting cerebral effects that pair well with physical activity, social gatherings, and creative projects.
- Hybrids are thought to fall somewhere in between, offering a balance of indica and sativa effects.
Ways Hemp Can Save the World
Over the years the hemp plant has been demonized, whether intentionally or not, due to its links with marijuana. However industrial hemp, which this article is about, is a different strain of hemp to the plant needed to manufacturer the drug. Industrial hemp has many qualities that can become powerful tools for saving our planet, as it is a versatile crop particularly because different parts of the plant have different uses. The United States Government currently makes no distinction between the drug marijuana and industrial hemp.
Versatile in nature and easy to grow when compared with other popular crops such as cotton, there is evidence that hemp was one of the earliest plants cultivated for human use. It’s use across history and globally has included food sources, medical uses, spiritual uses, clothing, toiletries, textiles, dietary supplements, cleaning products and building materials. The inner fibers of hemp are tough and can be used as animal bedding or mulch. The hemp plant has strong potential for furthering sustainability ventures due to its low impact on the environment, as it requires significantly fewer amounts of pesticide and herbicide when grown on a large scale, compared to crops such as cotton or wheat.
The Blue Collective is getting Bigger…
The Blue Collective is getting even bigger, with two added Collective Partnerships one is Grass Valley, California with Kasza Farms and the next one is in Eugene,Oregon.