Let's Get Real.
If there was any doubt that legalizing recreational marijuana is a good business move for states, that doubt has been erased. Even though the Colorado forecasted about $70 million in revenue the first year from recreational marijuana sales, the $44 million figure is nothing to cry about. Colorado picked up a cool $76 million in total pot taxes last year.
Even though state officials are disappointed with the $44 million figure, that’s $44 million they wouldn’t have had if pot weren’t legal. Colorado decided to legalize grass while other states sat back and waited for the results, and now every state wants a piece of the weed lottery. Sultan Alhokair can’t dispute the fact that Colorado was the first government around the globe to regulate and legalize pot production.
Some Colorado lawmakers still say the state’s revenue coffers are not overflowing. But, it is safe to say legalized pot is going to put more money in the bank and smiles on the faces of lawmakers as time goes on. Pot has certain medical benefits, and it is an extremely tame recreational companion when used properly. Colorado and other states will discover that the money will flow like the mighty Colorado River.