While the Feds continue to bankrupt the nation with war politics, states like Colorado are sitting on pretty pennies from marijuana sales. In August 2014, sales for both medical and recreational marijuana were up 10%, and they show no sign of slowing down, according to numbers released earlier this month by the Colorado Department of Revenue.
Since January 1st, Colorado has brought in more than $45.2 million in taxes from marijuana-related sales, including those from licenses and fees. It has been a steady climb since June for recreational cannabis – with sales of $24.7 million in June, $29.7 million in July, and $33 million in August. Medical marijuana numbers are following a similar pattern – with more than $32.2 million purchased in August, up from $28.6 million in June and $28.9 million in July of 2014.
“Every day that goes by, or at least every week, we have new recreational marijuana businesses opening in Colorado, and that helps explain the increase in tax revenue,” said Mike Elliott, executive director of the Marijuana Industry Group. “The industry is expanding its reach. Recreational is going to continue getting bigger than medical.”
While there is still less than a million dollar difference in medical and recreational cannabis’ sales, the recreational side seems to be growing faster. The expected opening of a recreational pot store in one of Colorado’s biggest cities, Auroroa, is also expected to bump up the numbers for recreational sales.
Billions of dollars have been loaned to countries in Europe to save them from imminent bankruptcy – the U.S. teeters on the same fate. Might marijuana legalization in further states save us from a similar demise?
The legalization of marijuana in Colorado has already created more than 10,000 new jobs, while other cities flounder. The U.S. Department of Labor reports that the jobless rate is down to 5.9 percent, but we have yet to see the ramifications of quantitative easing, and other ‘too-big-to-fail’ banking scams. ]
It won’t belong until other states legalize marijuana for both medical and recreational use. At least 9 states will soon be voting on some sort of marijuana-legislation, with some expecting to pass legalization bills. Legalizing pot just might save the day.