Colorado’s cannabis liberation was intended to generate tax money to be spent on schools and other state programs, but now a finicky state law may refund excess tax revenue back to the people, causing many politicians and lawmakers to scratch their heads over their next course of action.
The mandate, titled the “Taxpayers’ Bill of Rights,” was passed in 1992 with the purpose of having taxes appear before voters. It states that the state of Colorado must pay back taxpayers “when the state collects more than what’s permitted by a formula based on inflation and population growth.”
Over the years, Colorado has issued refunds six times, totaling more than $3.3 billion,” High Times reports.
That means Coloradans may each get their own cut of the $50 million in recreational pot taxes collected in the first year of legal weed. Colorado residents have mixed feelings about the refund, however, explaining they felt good about the decision to spend tax revenue on schools and other state programs.
But one medical cannabis buyer told High Times that pot taxes are too high, and that a refund to pot buyers makes the most sense.
“I don’t care if they write me a check, or refund it in my taxes, or just give me a free joint next time I come in. The taxes are too high, and they should give it back,” he said.
Political parties have been quick to share their stance on the issue, stating there is no good reason to put the money back in people’s pockets, and that a vote should be cast to exempt the refund from the bill.
Many republicans feel that marijuana should pay for itself – that general taxes shouldn’t pay for things like increased drug education and better training for police officers to identify stoned drivers.
Following the legalization of cannabis in 2012, voters decided to excise a 15 percent tax on pot to go towards schools, with an additional 10 percent to go to lawmakers. But due to a quickly growing economy, Colorado is now obligated to give back about $30.5 million.
As a simpler solution, Colorado’s marijuana industry doesn’t understand why they won’t just lower pot taxes, which wouldn’t require a state vote.
When lawmakers meet to talk about pot refunds after taxes are collected this spring, they’ll have to figure out if the money would go to all taxpayers, or just those who bought pot. Previous refunds have generally been paid through income tax returns, but Colorado has also reduced motor vehicle fees or even reduced sales taxes on trucks.
Political parties agree, though, that if pot is what the people want, then it most definitely should be taxed properly.
What are your thoughts on Colorado’s tax refund? Do you feel the money could be better utilized elsewhere? Share with us below!
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They sure as heck shouldn’t be refunding that tax money to everyone; only to those that paid it. In the future, they should just lower the tax. A 25% tax is way too high. Why don’t they tax alcohol and tobacco that much?
Exactly!! Lower the taxes going forward and refund paying customers!!! Victory!!!
the economy sucks. jobs are hard to get and keep, and few pay living wages. give the money to the people for crying out loud, instead of continually lining the rick ceo’s pockets, and the bankers wallets.
Jobs are where you make them. Sheep look for jobs, while free thinking people simple make them.
I learned before twenty what a sustainable economy was. I learned how to work for myself, and to rely on no one else.
By continuing to learn as I live, by paying attention to my environment, and moving away from the lies and deceit, the control tactics of our monetary society, I found another way.
I found a way to induce electromotive potential from the gravity of our induced inductive oscillator, Earth.
I have found a way to separate inductive material from chloride bonds in seawater. I can literally pull gold, as our oceans are loaded with auric chloride, and other precious inductive metals, as there is 24 grams of metal per liter of seawater.
I can ingest these materials to increase my electromagnetic capacity, augmenting thought and bio-kinetics. I can and do feed these to plants, as they are a vibrant, non-toxic, natural material that induces cellular growth, at an increased rate.
My economy is what I make it. There is no such thing as “our” economy, when so many people are left hungry, many starving.
Your economy needs to raise itself above the lies of your controllers, as this is not your economy, but theirs.
Start to build your own economy. This will be all that is left for you, when this pyramid scheme collapses, and this is coming very, very soon.
Food is your wealth, your survival. Learn how to do what your ancestors did, and what many of us have now forgotten, in servitude. This is our survival. What do you think that it was, that gold represented? Money?
Kevin Hay can you please elaborate?
The saying “Give a man a fish, feed him for a day; teach a man to fish, feed him for a lifetime” comes to mine when I read what Kevin said. Kind of hard to elaborate when everything he meant is right there in his post, clear as day.
I’m happy to see that everybody is on the same page
That’s a really simplistic comment, Kevin. It’s much easier said than done. We do need more than food, even if everyone knew how to grow or forage for themselves. We also need clean water and shelter, and not everyone wants to live in a cardboard box–not to mention they need property to grow that food on, which costs money. Making a business for yourself might sound easy to you but it’s not actually so simple. Take me, for instance. I have many ideas for businesses but they all depend on other people having the money to spend on my products or services. I refuse to use cheap products, and what I make (all organic stuff) is ridiculously expensive compared to the made-in-China or conventional stuff. It’s so expensive to make (after marketing, labeling, and tax hoopla) that if I sold it at what I think is a fair price, I wouldn’t make enough of a profit to have a “business”. I refuse to cheapen my products because that kind of stuff can be purchased for pennies at Wally-World. What would be the point? I want quality things for people and that comes at a price. And if people don’t have the money to spend, it doesn’t really matter how much they’d prefer to buy my stuff over discount store products. Everyone is spending less money nowadays, it seems.
I’m all for everyone starting their own business, buying from each other, and making our economy stronger but if everyone isn’t on the same page then the people who are on the same page are left in somewhat of a predicament. That’s the sad truth of it all. It reminds me of a comment where someone said, “If 300 million Americans are growing food in their front yard then they wouldn’t be able to arrest us all”. Well, that’s true, but good luck finding 300 million Americans to grow a food garden in their front yard….
“I don’t care if they write me a check, or refund it in my taxes, or just give me a free joint next time I come in. The taxes are too high, and they should give it back,”
Be thankful its legal now. We still don’t have the legal right here. You would pay 10x more for sure if it wasn’t legal and you got caught with it. Also, it’s building up the economy in your state.
Now that they see it makes so much money, they will find a way to monopolize the industry.
I’m sure they are thankful. I would be, coming from a state where it’s not legal in any way, shape, or form. But that high of a tax is still too much when they don’t tax alcohol and tobacco that high. Seems a bit hypocritical to me.
We are grateful, and I haven’t heard anyone in Colorado complain about the taxes even once. The guy quoted didn’t really seem to care either, but it’s a logical conclusion. If they bring in so much taxes that they need to refund, then they should lower the tax. It’s one of the highest taxes on a product anyways, so it’s a very logical statement. I don’t really care myself, but if probably say the same thing if someone asked me
And yes, it’s awesome to go into a store and legally buy weed. 🙂
something like a cash crop economic venture could be ignited by such earned expenditure (?)
In British Columbia,Canada the Liquor is marked up 46% by the government from producer to the market, then a 10% Provincial sales tax is added upon final sales and then the Federal government steps in and levies a 6% Goods and Services tax on all of that. They also levy additional excise taxes on a per liter basis and if you drink in a licensed premises like a bar or restaurant additional licensing fees apply. I owned a Pub and private liquor store for 26 years and paid out $13 million dollars in taxes to various government authorities. A 65 cent beer I sold in 1980 became a $5.00 beer in 2006. That’s why this country that is physically bigger than the USA has 10% of it’s population.
And why half of Canada spends so much time in Mexico..:) It’s warm,and the beer is cheap..:)
That’s really ridiculous. The alcohol tax isn’t that much in the USA, though, so I’m not sure why they don’t make the MJ tax the same as the alcohol and tobacco tax.
They should put the money toward the so called debt were in to our selves
I agree Deb…not everyone paid all that tax so no fair that everyone should get a cut. Agreed they should lower tax in the future. Perhaps a refund to the people who brought marijuana and then why not return some to the marijuana industry to upgrade their facilities or services or whatever they may need to help and improve their business
“Political parties have been quick to share their stance on the issue, stating there is no good reason to put the money back in people’s pockets, and that a vote should be cast to exempt the refund from the bill.”
Except, state law must refund excess tax revenue back to the people, causing many politicians and lawmakers to scratch their heads over their next course of action.
Scratching their heads? Instead of following the law, and returning the excess tax revenue to those who paid it?
The mandate, titled the “Taxpayers’ Bill of Rights,” was passed in 1992 with the purpose of having taxes appear before voters. It states that the state of Colorado must pay back taxpayers “when the state collects more than what’s permitted by a formula based on inflation and population growth.”
These politicians. Pull their funding. Put them back to work. These people have been living like parasites for far too long. Professional politicians are what destroyed our society. Politicians controlled by international bankers, traitors to the core..
Yep, just follow the law as it is.
That Would Be A Good Idea. Although it would just be scratching the surface. Maybe if they used the money on a bordering state of Colorado (for just 1 year) to persuade them and show them the benefits of the legalization of MJ. Then once that starts. More and more states could probably follow (domino effect) where all 50 states could pay the USA’S debt. With some left over hand money. Or just give it lawmakers
I was agreeing with Nick on my last comment although if the government agreed on doing so, it’ll make the old government look bad just for making sly videos about MJ
being penalised because of a recreational life style choice is a bit harsh , and the money could do a lot of goods in in drug and alcohol rehabilitation
I agree totally wat yur saying Deb. I hav too great ideas for buisness but theres a big but. Its not easy. I told people many years ago if everyone grew friut trees instead of bushes @ tree everyone would be fed. If Australia made there own products we would be a prosperous country @ if the Government wants to give back money to the people take it @ be happy just donr frame it.