That's the rallying cry of a group of West Coast cannabis
growers, and their raw numbers suggest it's time for us to pay
attention.
According to California law enforcers, seizures of the marijuana
crop in 2006 hit a record street value of $7 billion. But
experts say they probably got only a tenth of the crop. If that's
true, it puts the total value at $70 billion.
$70 billion in sales revenue...and the state doesn't get a cent!
Now comes an ad hoc committee of growers who propose
to regulate, control and tax the weed – virtually wiping out the
state's structural budget deficit.
Sales taxes alone would bring in $5.77 billion. And the
income taxes paid by newly taxable entrepreneurs should generate
another $7 billion or so for state and local coffers.
Nationally, the federal government's take might be as much
as $60 billion a year, and that's not counting the tens of billions
being wasted on marijuana prohibition.
Or should we keep sending this cash windfall to criminals
and their cartels?