Pot, Taxes & Those Pesky Banks: Oopsies! State Lawmakers Culpable?

[Silhouette]

Seems that states legalizing federally illegal substances are running into problems:

California treasurer wants the state to study a public bank option for pot businesses
along with looking into the creation of a public bank, another of the recommendations from Chiang’s group is to form a multistate group to lobby Congress to ease federal restrictions on cannabis.

“A definitive, bulletproof solution will remain elusive” without federal deregulation, Chiang said at a news conference Tuesday announcing the recommendations. “That is not an excuse for inaction.”

So CA's leadership is saying "look, we're going to break the law and the fed had better get it's act together and legalize what we've decided to illegally do" Technically, CA leaders should have never approved legalization for the ballot to even be voted on. Which was within their powers (and obligation) to deny given federal regulations. Now they're saying "we're doublin' down on being outlaws...bitches!"

In response to that hubris it seems the fed has these states by the short hairs inasmuch as their state tax forms must also match the federal ones... ...and the banks...oh yeah, the banks...

...it seems that the fed is telling banks that get FDIC coverage that doing business with federally-illegal drugs is a no-no.

Ooopsies! So now those states fallback is "let's convince the fed to pull pot off the controlled substance list"? What happens when a state wants to grow opium latex for sale? Petition the fed on that too?

This could get interesting. I mean, do you also file federal taxes for hits you did for the mob and the money they paid you? Where does the fed draw the line at revenue from what it considers crime? And if the fed takes crime money, is that legal for the fed to do?

Discuss.

 

[Moonglow]

Texas has been doing it for many years with its dealer tax declaration..

 

[Siete]

another problem with a simple solution --

get bankers and lawmakers together in Vegas at a National convention - serve Cronic Brownies and Purple Haze Tea for refreshments - at the end of the day, legalize pot in every state in the country.

end probelm-o

 

[Pogo]

Seems that states legalizing federally illegal substances are running into problems:

California treasurer wants the state to study a public bank option for pot businesses
along with looking into the creation of a public bank, another of the recommendations from Chiang’s group is to form a multistate group to lobby Congress to ease federal restrictions on cannabis.

“A definitive, bulletproof solution will remain elusive” without federal deregulation, Chiang said at a news conference Tuesday announcing the recommendations. “That is not an excuse for inaction.”

So CA's leadership is saying "look, we're going to break the law and the fed had better get it's act together and legalize what we've decided to illegally do" Technically, CA leaders should have never approved legalization for the ballot to even be voted on. Which was within their powers (and obligation) to deny given federal regulations. Now they're saying "we're doublin' down on being outlaws...bitches!"

In response to that hubris it seems the fed has these states by the short hairs inasmuch as their state tax forms must also match the federal ones... ...and the banks...oh yeah, the banks...

...it seems that the fed is telling banks that get FDIC coverage that doing business with federally-illegal drugs is a no-no.

Ooopsies! So now those states fallback is "let's convince the fed to pull pot off the controlled substance list"? What happens when a state wants to grow opium latex for sale? Petition the fed on that too?

This could get interesting. I mean, do you also file federal taxes for hits you did for the mob and the money they paid you? Where does the fed draw the line at revenue from what it considers crime? And if the fed takes crime money, is that legal for the fed to do?

Discuss.

The federal law involved here is the Controlled Substances Act, which categorizes cannabis as a "Schedule 1" narcotic.

However, cannabis is neither a narcotic, nor even a drug.

The longer the fed ignores that, the more states will acknowledge it, and the sillier the fed will look.

/thread

 

[Silhouette]

The fed may look silly but they control the banks. So maybe the states are looking silly now?

By the way, the pot out there today is nothing but a narcotic. Eat a brownie & go for a drive. See how that works out for you.

 

[Moonglow]

The fed may look silly but they control the banks. So maybe the states are looking silly now?

By the way, the pot out there today is nothing but a narcotic. Eat a brownie & go for a drive. See how that works out for you.

Nope, not a narcotic....If you know so much how much do you smoke and pop methadone a week?

 

[Silhouette]

A friend recently got into some chocolate while house sitting. Didn't know it was pot chocolates. Went on a little three day spiritual journey. Lucky he didn't die.

He said he did battles with a demon army & rolled around on the floor puking too. Yep...not a narcotic. Umm hmmm

 

[Pogo]

A friend recently got into some chocolate while house sitting. Didn't know it was pot chocolates. Went on a little three day spiritual journey. Lucky he didn't die.

Because spiritualism can be fatal, right?

Sheesh.

 

[Moonglow]

A friend recently got into some chocolate while house sitting. Didn't know it was pot chocolates. Went on a little three day spiritual journey. Lucky he didn't die.

Good thing they weren't laced with laxatives...

 

[Syriusly]

A friend recently got into some chocolate while house sitting. Didn't know it was pot chocolates. Went on a little three day spiritual journey. Lucky he didn't die.

He said he did battles with a demon army & rolled around on the floor puking too. Yep...not a narcotic. Umm hmmm

How the hell would he die?

And if he was rolling around the floor and puking- it wasn't the pot- it was something else the brownies- pot actually inhibits the urge to puke.

 

[Silhouette]

A friend recently got into some chocolate while house sitting. Didn't know it was pot chocolates. Went on a little three day spiritual journey. Lucky he didn't die.

Because spiritualism can be fatal, right?

Sheesh.

No because toxicity can be fatal. Also if he was in the fifth story balcony while fighting the imaginary demon army the wrong sword swing might have been fatal.

 

[Moonglow]

A friend recently got into some chocolate while house sitting. Didn't know it was pot chocolates. Went on a little three day spiritual journey. Lucky he didn't die.

Because spiritualism can be fatal, right?

Sheesh.

No because toxicity can be fatal. Also if he was in the fifth story balcony while fighting the imaginary demon army the wrong sword swing might have been fatal.

just think, 40 years ago they used that theme for LSD users..

 

[Pogo]

A friend recently got into some chocolate while house sitting. Didn't know it was pot chocolates. Went on a little three day spiritual journey. Lucky he didn't die.

He said he did battles with a demon army & rolled around on the floor puking too. Yep...not a narcotic. Umm hmmm

How the hell would he die?

And if he was rolling around the floor and puking- it wasn't the pot- it was something else the brownies- pot actually inhibits the urge to puke.

If he did he'd be the first ever in --- what, seven thousand years of cannabis use....

Ignorance remains rampant.

But hey, what's a more reliable source than an anonymous internet message board poster claiming "a friend said he was rolling around puking on the floor". That's the stuff of "scientific basis" right there, yesiree bob.

 

[Silhouette]

A friend recently got into some chocolate while house sitting. Didn't know it was pot chocolates. Went on a little three day spiritual journey. Lucky he didn't die.

Because spiritualism can be fatal, right?

Sheesh.

No because toxicity can be fatal. Also if he was in the fifth story balcony while fighting the imaginary demon army the wrong sword swing might have been fatal.

just think, 40 years ago they used that theme for LSD users..

It's not a theme. It actually happened. I caught up with him on day four and he was still quite obviously not all there yet.

 

[Pogo]

A friend recently got into some chocolate while house sitting. Didn't know it was pot chocolates. Went on a little three day spiritual journey. Lucky he didn't die.

Because spiritualism can be fatal, right?

Sheesh.

No because toxicity can be fatal. Also if he was in the fifth story balcony while fighting the imaginary demon army the wrong sword swing might have been fatal.

just think, 40 years ago they used that theme for LSD users..

It's not a theme. It actually happened. I caught up with him on day four and he was still quite obviously not all there yet.

Imaginary "friends" are never "all there". It's kind of in the definition.

 

[Moonglow]

A friend recently got into some chocolate while house sitting. Didn't know it was pot chocolates. Went on a little three day spiritual journey. Lucky he didn't die.

Because spiritualism can be fatal, right?

Sheesh.

No because toxicity can be fatal. Also if he was in the fifth story balcony while fighting the imaginary demon army the wrong sword swing might have been fatal.

just think, 40 years ago they used that theme for LSD users..

It's not a theme. It actually happened. I caught up with him on day four and he was still quite obviously not all there yet.

Drinking too much water will kill you, we must ban it also..

 

[Silhouette]

Go ahead. Eat a couple of pot brownies & go for a drive. Tell it to the judge when the cop that pulls you over sees that you are obviously narcotically intoxicated.

It's already becoming a problem new dui in recreational states. Drinking & driving is banned already.

A poster claimed pot isn't a narcotic. That's just a flat out lie.

 

[Moonglow]

Go ahead. Eat a couple of pot brownies & go for a drive. Tell it to the judge when the cop that pulls you over sees that you are obviously narcotically intoxicated.

It's already becoming a problem new dui in recreational states.

Pot brownies are more concentrated than smoking weed...I have eaten pot brownies yet failed to go tripindicular..

 

[Silhouette]

Put your drivers license where your mouth is. Eat a pot brownie, drive & call 911 on yourself. Get back to us with what happens.

 

[Moonglow]

Put your drivers license where your mouth is. Eat a pot brownie, drive & call 911 on yourself. Get back to us with what happens.

Who is more the fool, the fool or the fool that follows the fool?