Tag Archives: Tax Revenue

Colorado Becomes First State To Generate More Tax Revenue From Marijuana Than From Alcohol Sales

Colorado became the first state in the nation’s history to make more annual revenue off of taxes imposed on marijuana sales than taxes on alcohol, according to numbers released by the Colorado Department of Revenue.

A report from the department, which looked at the taxes collected from  July 1, 2014 through June 30, 2015, found that the state collected about $70 million in taxes from marijuana sales, and only about $42 million in taxes from alcohol sales.

The Marijuana Policy Project noted that out of the $69,898,059 raised on taxes on marijuana-related sales, $43,938,721 came from a “10% special sales tax on retail marijuana sales to adults” and $25,959,338 came from a “15% excise tax on wholesale transfers of marijuana intended for adult use.”

KDRV reported that Colorado is having a “marijuana tax holiday” on Wednesday, which will suspend all taxes on marijuana-related sales.

Mason Tvert, director of communications for the Marijuana Policy Project and a co-director of the 2012 initiative to regulate and tax marijuana like alcohol in Colorado, released a statement saying that marijuana taxes have been “incredibly productive over the past year,” and Wednesday’s holiday will be a “much-deserved day off.”

“It’s crazy how much revenue our state used to flush down the drain by forcing marijuana sales into the underground market,” Tvert said. “It’s even crazier that so many states are still doing it. Tax revenue is just one of many good reasons to replace marijuana prohibition with a system of regulation.”

[RELATED: ‘Gas and Grass’ Cannabis Dispensary Gas Stations Coming Soon To Colorado]

The Associated Press reported that the holiday is due to Colorado’s “unusual tax law,” and is a rare move in a state that “has many times rejected sales-tax holidays on things like school supplies, clothing or energy-efficient appliances.”

The Colorado Taxpayer’s Bill of Rights “requires voters to approve new taxes based on estimates of collections and state spending.”

The Denver Post noted that although the tax revenues from marijuana sales have not exceeded projected figures, “total state spending exceeded initial estimates because of the improving economy,” and as a result, lawmakers settled on a one-day tax waiver.

[RELATED: Truth In Media: Feds Say Cannabis Is Not Medicine While Holding The Patent To Cannabis As Medicine]

In Sept. 2014, investigative journalist Ben Swann looked into the federal government’s involvement with marijuana used for medicinal purposes, and he found that although the government acts as if cannabis is not medicine, they actually own the patent to cannabis as medicine.


Feds Collect Record 2015 Tax Haul: $19,346 Per Worker

WASHINGTON, September 14, 2015– According to a monthly treasury statement, through the first eleven months of fiscal year 2015 (Oct. 1, 2014 – end of August), the United States federal government has collected a record-breaking haul in tax revenue. In total, the feds have collected over $2.8 trillion so far, which equals approximately $19,346 for every person in the country working full-time or part-time in August.

The largest yield of this fiscal year’s record-setting tax collections were derived from individual income tax. That netted the United States Treasury approximately $1.379 trillion. Payroll taxes for “social insurance and retirement receipts” brought in an additional $977.5 billion. Additionally, the corporate income tax brought in $268.4 billion.

It appears that the record-breaking tax revenue of $2,883,250,000,000 wasn’t enough for the federal government. Despite the extra cash, the federal government spent $3,413,210,000,000 in those eleven months, which ran up a deficit of $529,960,000,000 during the collection period.

To date, the national debt sits at approximately $18.4 trillion with each citizen’s share equaling $57.1 thousand.

The federal government’s largest expenditures are Medicaid and Medicare, Social Security, defense and war, net interest on the debt itself, federal pensions and income securities.

Also, at a 560 percent increase since fiscal year 2000, the monetary base has also been greatly expanded by the Federal Reserve to combat the great recession.

Washington shows no signs of slowing down. Almost exclusively, decreases in budget deficits have been achieved by tax increases, not decreases in federal spending.

In late 2012, Republicans joined President Obama’s proposal and agreed to raise taxes to avoid the “fiscal cliff”. Many Republicans have also joined President Obama and Democrats in calling for an internet sales tax. Meanwhile, federal spending is up 106 percent since fiscal year 2000.

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