Taxes are a big issue in Washington D.C.. The partisan lines continue to fuel the debate on who to tax and how much. Democrats have the tax the rich message while Republicans have the “we are taxed too much” message. The two sides have no common ground.
Republicans need to rethink their opposition to decriminalizing pot. Democrats need to push the potential tax revenue message as a reason to decriminalize pot.
USA Today – “The Cannabis Administration and Opportunity Act, a draft bill by Sens. Cory Booker, D-N.J., and Ron Wyden, D-Ore., and Schumer would remove marijuana from the Controlled Substances Act, allowing pot to be regulated and taxed.”
Note the operative words “and taxed.” New tax revenues from pot could, for example, help fund infrastructure improvements.
The potential for revenue is significant. 18 states have already generated 8 billion dollars in tax revenue. In 2020, “adult-use states collected $2.7 billion in taxes.” Just imagine the tax revenues a federal tax on pot will raise.
The idea of using pot to raise revenues warrants study and discussion. Maybe decriminalizing pot and taxing it is a method to help fund plans to rebuild our infrastructure. Instead of getting lost in the politics of pot maybe those in Washington D.C. need to weigh the economic benefits of pot.
The idea is worth discussing and will require thinking outside of the political box.