Two years in the past, California voters overwhelmingly authorised Proposition 64, which legalized grownup cannabis use. Quick ahead two years later, and the illicit market is “getting worse, not higher.”
The authorized cannabis market has but to attain its desired impression for quite a few causes. Greater than three-quarters of California’s metropolis and county governments nonetheless ban the sale of cannabis inside their jurisdictions. One other is predicated on easy economics that falls on your entire state of California: taxes are too excessive on the authorized cannabis trade and it’s stunting the expansion of the authorized market.
With present tax charges, companies and shoppers are incentivised to show to the illicit market and medical sufferers overpay for drugs they want, all whereas the state is receiving far much less income than it projected.
– Learn your entire article at SF Chronicle.