State tax revenue from marijuana sales in NJ will be an estimated 20M in 2022. I can't estimate the amount of investment or jobs created in the new industry. I also can't estimate the social costs on families and municipalities......
With that in mind, was it a success or failure?
The industry needs time to mature first before it can be deemed a success or failure.
At the risk of being downvoted, I feel the need to express my disappointment at businesses like “Bud Bus” that allow people to purchase weed without paying taxes. I know we’re taxed enough in NJ, but it’s the best way to see how legal weed sales are helping generate revenue for the state.
I have mixed feelings.
On one hand, I think it is good that people have an avenue to purchase and consume within the boundary of state law.
On the other hand, marijuana at dispensaries is priced obscenely high and that may encourage some lower earners to purchase from the black market. I also think medical patients are getting a shit end of the deal - they helped establish some of the groundwork for businesses taking advantage of legalization, are still paying a premium and are not allowed to grow a plant at home for medical or personal use.
That said, I'm not sure if it is a failure or a success but I think NJ could do better for it's taxpayers instead of making it what seems to be a luxury item for those who can afford it.
The fact that I don’t have to worry about cops when I buy weed makes it a success.
However, I do believe the laws need to include a provision for home grow. This is the garden state and I hear marijuana enjoys the same soil conditions as tomatoes…
“Too soon to tell.”
Where is the tax revenue going, is it being squandered by our crooked politicians
Well duh, you think it would be going to something actually useful?
Stupid me I better exhale!
I come originally from the state of Oregon where it’s been established for awhile, where we have no taxation on bud.
I think New Jersey will take a second longer for these statistics as Oregon did, but with it being taxed the money is at least going into state revenue.
That being said I genuinely wish they would’ve enacted more allowance for growing because it would lower the cost for dispensaries and other, which does prove to increase sales of it.
There will be way more licenses and industry employees over the next few years. Very much still in the infancy stage.
Success in some regards and a failure in others. 99% of dispos are corporate msos. Cmon gtfo with that shit. I think only Breakwater isn't an mso
I also can't estimate the social costs on families and municipalities....
Do you mean how much some municipalities lose on not Trying Pot cases, writing tickets court fees etc., becuase that was a BIG business in some towns etc...?
The sticker prices for stuff is kinda what threw me extra hard and no grow is some bullshit clownery.
I get weed has become a total arms race akin to hoppy beers with the million different ways of going about it, and sure factor in added mark up knowing it's in a slightly more official setting(despite how I hear some mixed behind the scenes stuff with a lot of this rackets running this stuff), but yeah that price point of stuff kinda isn't really having me delete any archetypal hippies off my contact lists.
Especially when in this day and age when it's not a challenge to find someone who isn't pushing exotic oregano reggies.
I don't know. Social justice is a win but I think the legality is pushing people who never smoke to use it now, I believe it's extremely addictive and it's effects similar to getting drunk off alcohol when someone has a bad day. I also don't think smoking is good for public health and I think vaping is even worse.
That being said, I have not been to a dispensary but I have smoked and consumed edibles from a NJ dispensary. I think it's okay stuff but not worth the premium prices.
Push people? Did legalizing alcohol again push people to drink? It’s an escape from reality for the moment, ie., recreational use. I’m surrounded by it through friends and coworkers who smoke. My daughter had vacuum sealed bags as big as garbage cans in her studio where she made topicals and edibles. I am not pushed into using it despite all that. Please.
Neither. Mostly corporate dispensaries, no home grow for medical patients, prices are very high still, but the bud itself is pretty decent. The black and grey market are benefiting much more since no one really wants to pay $450/oz for some dry curaleaf shit when you can use one of the hundred different delivery services that will drop off an ounce of fire in 45 minutes for $300.
In that regard it's a failure because of lost tax revenue. Cracking down on those services isn't the answer, either. The answer is to open home grow to medical patients and lower the barrier to entry for independent cultivators and dispensaries. More independent businesses = more tax revenue and competition to drive prices down.
Y'know, the way capitalism is supposed to work. Right now it's basically regulatory capture by the big MSOs and they've successfully locked out the competition. That isn't ok.
I do not know what you mean by bud, but there is a minimum 20% sales tax on cannabis in Oregon.
https://www.oregon.gov/DOR/programs/businesses/Pages/marijuana-local-tax.aspx
A win. We need our dispensaries to figure out crowd control better and for them to offer more varied products.
prayersforrain t1_j2e8n5o wrote
Any incremental tax revenue should just be a win