Legalize Recreational Substances

by Padrino ⌂ @, Rosarito/Zihuatanejo, Saturday, January 07, 2023, 23:38 (1403 days ago) @ midalake
edited by Padrino, Saturday, January 07, 2023, 23:48

Cannabis Black Market Thrives Despite Legalization
https://alcoholstudies.rutgers.edu/cannabis-black-market-thrives-despite-legalization/

Marijuana’s black market is undercutting legal businesses
https://www.cnbc.com/2022/12/23/marijuana-black-market-undercuts-legal-business.html

The black market strangled California's legal weed industry. Now it's coming for New York.
https://www.politico.com/news/2022/11/13/california-black-market-weed-new-york-00066470

If you read the articles, you will find that much of the problem is that marijuana is still illegal at the Federal level. Hence, legitimate businesses trying to operate in the states that have legalized marijuana cannot use the banking system. The banks are regulated by the Feds and they want nothing to do with any business that is selling a Class 1 controlled substance. However, the legal sellers still are required to report their sales and pay taxes as would any legitimate business. Therefore, they are operating like an illicit business, essentially having to handle their money as if the money were from ill-gotten gains while at the same time having to pay taxes on any sales made. Personally, I can't imagine how they do this.

When marijuana is finally legalized at the Federal level, my prediction will be that the big three tobacco companies will quickly enter the market. Altria (formerly Philip Morris, makers of Marlboro and Virginia Slims), British American Tobacco (makers of Camel and Lucky Strike), and Philip Morris International (the company spun off from Altria that sells Marlboro and Virginia Slims outside the U.S.) have access to world wide production, marketing, and distribution capabilities. With their vast advertising budgets, they will dominate the marijuana market just as the big alcohol companies do now with regard to alcohol. The black market won't stand a chance!

Your articles are more arguments for why marijuana should be legalized at the Federal level and not just at the state level.

Smoking marijuana is more fun than drinking beer
But one of our friends was captured and they gave him 30 years!
Maybe we should raise our voices, ask somebody why
But demonstrations are a drag, besides we're much too high
And I'm sure it wouldn't interest anyone
Outside a small circle of friends.

-- Phil Ochs, Outside a Small Circle of Friends


Complete thread:

 RSS Feed of thread