Bummer: Colorado Pot Sales Less Than Expected

Amid all the articles pimping the successful $2 million tax heist in Colorado, what’s often not mentioned is that this is less than the newly-minted state pot dealers claimed they’d pull in. Breitbart.com‘s William Bigelow offers this unwelcome measure of sobriety:

The bullish predictions about the revenue Colorado would accumulate from sales of recreational marijuana may have been quite premature. In February, Governor John Hickenlooper’s budget office estimated that recreational pot shop sales added to medicinal marijuana sales would approach $1 billion in the fiscal year beginning in July; the budget office suggested $134 million in tax and fee revenues entering state coffers.

But in January of 2014, Colorado only brought in $2 million from recreational pot shop sales, far short of what would lead to a successful prognosis from Hickenlooper’s budget office.

When the sum from recreational pot sales was combined with taxes and fees from medicinal marijuana in January, the total was still only $3.5 million. At the end of last year, the Legislative Council of the Colorado General Assembly projected a total of $578.1 million a year in combined wholesale and retail marijuana sales….Read the rest >>>

Breitbart.com

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