Legalising and taxing pot in California has led to prices sky rocketing with many turning back to buying it illegally from the cartels.
It was bound to happen. When government gets involved in anything, the price goes up. It’s no different for residents in California who like to smoke a bit of weed.
Back in 2017, cannabis was legalised by the California government. It made worldwide news at the time and proved to be a populist move for Irish politicians looking to pick up on the popular idea to get more
votes, no doubt.
This time last year, Green Party Leader, Eamon Ryan said that Ireland was not ready to legalise cannabis when responding to a PBP motion reported the Sun.
However, with legalisation comes taxes, distribution costs and retailer costs and that’s before a cent of profit is added.
According to PJMedia.com, legal pot is twice the price of the the illegal street price and many customers are turning to the old ways of buying to save a buck or two.
The legal cannabis industry is now suffering, prompting more than two dozen industry executives to sign an open letter pleading for help from the government of California.
Here is an extract of the open letter published by PJMedia.com;
Four years after broad legal sales began, “our industry is collapsing,” said the letter, which also was sent to legislative leaders in Sacramento.
The industry leaders asked for an immediate lifting of the cultivation tax placed on growers, a three-year holiday from the excise tax and an expansion of retail shops throughout much of the state. It’s estimated
that about two-thirds of California cities remain without dispensaries, since it’s up to local governments to authorize sales and production. The current system “is rigged for all to fail,” they wrote.
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