Governor Schwarzenegger declared a statewide fiscal emergency in California last week since legislators failed to agree on a budget. To pitch in and help poor California dig ourselves out of a staggering $24 billion deficit dispensaries over in Oakland have a radical idea…they’re offering to pay increased taxes!
Cannabis is this country’s largest cash crop doing a whopping $36 Billion a year. That shit rakes in more cash than corn and wheat combined. Just last year Oakland alone sold more than $20 Million worth of medical cannabis. Currently those dispensaries are paying a minimum tax of $1.20 for ever $1,000 of weed sold.
But get this, those compassionate dispensaries are pushing the envelope of compassion by offering to raise those tax rates to 18 bucks for every $1,000 of weed sold. The marijuana tax, which voters will be asked to endorse in a ballot this month, would bring in about $400,000 of annual revenue in Oakland alone. If adopted statewide, the taxes could be worth billions. Stay tuned as the results of the ballot will be announced on July 21.