Cannabis is still illegal for recreational purposes in a variety of regions and one of those places is New York.
Small amounts of marijuana might have previously been decriminalized, but other states like Washington and Colorado have already established multi-billion dollar markets and NY is far behind.
Now, there are dozens of states that have either moved forward with recreational or medicinal legalization.
Looking For Money in Cannabis
“Not only will legalizing and regulating the adult-use cannabis market provide the opportunity to generate much-needed revenue, but it also allows us to directly support the individuals and communities that have been most harmed by decades of cannabis prohibition,”New York Gov. Andrew Cuomo’s
The government in one area or another has been looking to the cannabis market to bring with it the creation of thousands of jobs, along with the millions in tax revenue they will get from it.
At the end of the day, the state will be taking a piece of the voluntary exchange that's happening between two individuals, and using that money to cushion their bad financial decisions that have left them in the red.
There are some cannabis users who do have high incomes, but many of them are just average households with incomes less than $100k per year. With some states that have been looking to aggressively tax products in this market, this means there will be less opportunity and a higher cost for medicine that some cannot afford.
Give A Growing Alternative
The hundreds of millions in revenue that's coming in from taxing cannabis isn't necessarily something that should be celebrated. That is because they have been obtaining funds through force from sick patients for the most part, because they cannot come up with a peaceful and creative way to generate the resources that they need. Funds that are needed for communities and other projects etc, shouldn't be obtained through force in this way, and added on to cannabis exchanges. For some who are paying the high prices though, they're simply happy enough to have that regulated route for access after either going without for many years or risking a great deal to do otherwise.
The changes are a slap in the face though to the many thousands who had their lives ruined by the state after they were incarcerated, some for decades, for as little as a cannabis joint. However, one good thing from these legalization reforms is that there are many expunged records that are coming along with it and that potentially means a changed life for many and a second chance. And now New York might be next.
Pics:
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Nope, NY will legalize cannibalism before they legalize Cannabis.
Turning it into a war zone, they arent that far away from it anyway.
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They are going to have to do something for money. Driving billionaires out in droves is not a great way to grow the tax base.
The question is will people want to do business, even in cannabis, in NYC?
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