Source: The Hill
by Merrill Matthews
“There has been a long-running debate over legalizing the recreational use of drugs, especially marijuana. Proponents argued that legalization — or at least decriminalization — would undermine black market sales of those drugs. Prices would fall and organized crime and gangs, which have long profited from the distribution and sale of illegal drugs, would diminish. Meanwhile, the government could regulate vendors to ensure quality and safety and, most important to the politicians, tax their sales. … Excessive tax rates on any product or service always encourage some people to game the system or move to the black market. But high tax rates aren’t the only stumbling block. Several states have a fairly arduous application-and-approval processes for becoming a licensed marijuana vendor.” (05/09/23)
https://thehill.com/opinion/finance/3995479-weed-and-greed-how-marijuana-taxation-went-up-in-smoke/