Damn: Feds Slap 70% Tax On Legal Marijuana Businesses

[Steve_McGarrett]

Lol........I knew sooner or later the feds would get involved and try to force these people out of business by taxing them to death.

Feds Slap 70% Tax on Legal Marijuana Businesses

 

[9thIDdoc]

Who didn't see that coming?

 

[irosie91]

who objects?? the government needs the revenue

 

[Katzndogz]

That keeps the black market in business.

 

[Zander]

The government is always so stupid.

If they drive the legal businesses out with outrageous taxes, who fills the gap? The illegal operators who, Surprise! do not file tax returns. .
Net result = less revenue.

Dumb.

 

[irosie91]

That keeps the black market in business.

no-----I don't think so-------just to avoid the TAX?

The government is always so stupid.

If they drive the legal businesses out with outrageous taxes, who fills the gap? The illegal operators who, Surprise! do not file tax returns. .
Net result = less revenue.

Dumb.

silly nonsense------cigarettes and booze is heavily taxed

 

[ThunderKiss1965]

Waiting for the Lib hypocrites to start screaming about high taxes.

 

[Zander]

That keeps the black market in business.

no-----I don't think so-------just to avoid the TAX?

The government is always so stupid.

If they drive the legal businesses out with outrageous taxes, who fills the gap? The illegal operators who, Surprise! do not file tax returns. .
Net result = less revenue.

Dumb.

silly nonsense------cigarettes and booze is heavily taxed

Are heavily taxed.

The issue is not the simply about a tax rate. There are actually no special taxes added to marijuana by the Fed. There is a law the prevents these businesses from writing off any normal business expenses. That can give them an effective tax rate that is up to 70%. That will encourage black market sales.

If you doubt it, just look at NYC. There is a huge black market for cigarettes in NYC. Nanny Bloomberg slapped a huge tax on cigarettes raising the cost of a single pack to about $14.00.Now organized crime types buy the cigarettes in NC for about $3.00 a pack, drive them back to NYC and make a huge profit. The city and state of NY get ZERO tax on those sales.

 

[theDoctorisIn]

So, by "sooner or later", you meant 35 years ago?

 

[1stRambo]

Lol........I knew sooner or later the feds would get involved and try to force these people out of business by taxing them to death.

Feds Slap 70% Tax on Legal Marijuana Businesses

Yo, but Obama and his Socialist followers want Blacks out of JAIL? How could this be? Can we say the Socialist Progressive Democrat Party is Lying to the Blacks? I think so!!!!!!!!!!!!!!!!!

"GTP"

 

[Steve_McGarrett]

This law will make the Indian Nations rich.
They will grow, dry, process and package weed, tax free.

 

[Yousaidwhat]

That keeps the black market in business.

no-----I don't think so-------just to avoid the TAX?

The government is always so stupid.

If they drive the legal businesses out with outrageous taxes, who fills the gap? The illegal operators who, Surprise! do not file tax returns. .
Net result = less revenue.

Dumb.

silly nonsense------cigarettes and booze is heavily taxed

Are heavily taxed.

The issue is not the simply about a tax rate. There are actually no special taxes added to marijuana by the Fed. There is a law the prevents these businesses from writing off any normal business expenses. That can give them an effective tax rate that is up to 70%. That will encourage black market sales.

If you doubt it, just look at NYC. There is a huge black market for cigarettes in NYC. Nanny Bloomberg slapped a huge tax on cigarettes raising the cost of a single pack to about $14.00.Now organized crime types buy the cigarettes in NC for about $3.00 a pack, drive them back to NYC and make a huge profit. The city and state of NY get ZERO tax on those sales.

And those in Maryland drive to Delaware and West Virginia to stock up.

 

[bucs90]

On the surface this seems like Obama being a hypocrite and taxing weed businesses. But it's not. He wants these legal weed businesses closed down.

Why? Easy. Their taking massive $$$$ away from ghetto drug dealers. The Boyz In Tha Hood are struggling to sell their sticky icky icky icky.

 

[theDoctorisIn]

On the surface this seems like Obama being a hypocrite and taxing weed businesses. But it's not. He wants these legal weed businesses closed down.

Why? Easy. Their taking massive $$$$ away from ghetto drug dealers. The Boyz In Tha Hood are struggling to sell their sticky icky icky icky.

Since this tax law was signed by Reagan 35 years ago, I don't see how it reflects Obama in any way.

 

[bucs90]

On the surface this seems like Obama being a hypocrite and taxing weed businesses. But it's not. He wants these legal weed businesses closed down.

Why? Easy. Their taking massive $$$$ away from ghetto drug dealers. The Boyz In Tha Hood are struggling to sell their sticky icky icky icky.

Since this tax law was signed by Reagan 35 years ago, I don't see how it reflects Obama in any way.

Uh hum....once again....discretion of enforcement. He's the head of the Executive Branch. If he wanted this ignore or enforced....guess who the IRS answers to?

 

[theDoctorisIn]

On the surface this seems like Obama being a hypocrite and taxing weed businesses. But it's not. He wants these legal weed businesses closed down.

Why? Easy. Their taking massive $$$$ away from ghetto drug dealers. The Boyz In Tha Hood are struggling to sell their sticky icky icky icky.

Since this tax law was signed by Reagan 35 years ago, I don't see how it reflects Obama in any way.

Uh hum....once again....discretion of enforcement. He's the head of the Executive Branch. If he wanted this ignore or enforced....guess who the IRS answers to?

Once again, you're staggeringly wrong.

You didn't even read the article in the OP.

 

[AvgGuyIA]

Lol........I knew sooner or later the feds would get involved and try to force these people out of business by taxing them to death.

Feds Slap 70% Tax on Legal Marijuana Businesses

It's about time.

 

[HereWeGoAgain]

That keeps the black market in business.

no-----I don't think so-------just to avoid the TAX?

The government is always so stupid.

If they drive the legal businesses out with outrageous taxes, who fills the gap? The illegal operators who, Surprise! do not file tax returns. .
Net result = less revenue.

Dumb.

silly nonsense------cigarettes and booze is heavily taxed

A 70% TAX!!!!
The shit will be underground before the shit hits the rule book...

 

[BlueGin]

Who didn't see that coming?

Exactly.

 

[HereWeGoAgain]

That keeps the black market in business.

no-----I don't think so-------just to avoid the TAX?

The government is always so stupid.

If they drive the legal businesses out with outrageous taxes, who fills the gap? The illegal operators who, Surprise! do not file tax returns. .
Net result = less revenue.

Dumb.

silly nonsense------cigarettes and booze is heavily taxed

Ask yourself this..
Do you think the growers can eat a 70% tax?
Their only option is to increase prices. When that price can be beat by the black market the business fails.
Shit aint rocket science.