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California Just Destroyed Its Own Holy Grail – High Taxes Bring Major ‘Legal’ Industry to Its Knees

California Just Destroyed Its Own Holy Grail – High Taxes Bring Major ‘Legal’ Industry to Its Knees

What’s Happening:

Democrats keep claiming they know how to run our states better than anyone else. Oh, yeah? Then why are so many people fleeing blue states to relocate to red states? And why are there so many homeless shanty towns crowding their streets? And why are people keep getting stabbed in “safe” neighborhoods?

But you want to know what’s really hilarious? Democrat states can’t even keep their own pet industries alive. One major blue state trumpeted when it legalized recreational marijuana. They claimed red states were “backwards” for refusing to legalize the drug. Now, the heavy-handed state has strangled the industry to death.

From Breitbart:

Heavy regulations, high taxes, and oversupply are causing the legal marijuana industry in California to contract rapidly, with the state reportedly losing nearly a quarter of its legal cultivation “canopy” since the start of 2022…

Low wholesale prices and high taxes have made it almost impossible for operators to run a profitable small business, pot industry insiders say.

Lol, oh my goodness! You mean to tell me an industry of braindead potheads and drug dealers is in trouble? Marijuana lobbyists convinced voters that legalizing pot would bring in massive amounts of tax revenue. Since, you know, pot smokers would love to pay more for the pot they are already smoking.

But thanks to heavy-handed regulations and high taxes, the legal pot industry is collapsing in California. This doesn’t mean people have stopped smoking. They’ve just gone back to buying weed from their old drug dealers.

Legal marijuana requires a store, mountains of fees and paperwork, and of course taxation. Illegal drug dealers don’t mess with all that–so the prices are better.

Plus, the backbone of this “industry” are stoners who had no intentions of jumping through California’s bureaucracy. But we find it hilarious that California is killing its much-prized pot industry, with the very policies that are driving businesses out of California.

How ironic. They sold legal pot with the promise of tax revenue. Yet those taxes are killing the industry.

Key Takeaways:

  • California’s legal pot industry is collapsing, losing 23% of its “canopy” in 2022.
  • The blue state sold legal pot to voters by promising high tax revenues.
  • High taxes and regulation is crippling the legal pot industry.

Source: Breitbart



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