Two years in the past, California voters overwhelmingly accepted 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 influence for a variety of causes. Greater than three-quarters of California’s metropolis and county governments nonetheless ban the sale of cannabis inside their jurisdictions. One other relies on easy economics that falls on the whole 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 medication they want, all whereas the state is receiving far much less income than it projected.
– Learn the whole article at SF Chronicle.