Stoners May Revitalize the Economy Yet
The only thing higher than Colorado's stoners right now are the state's tax revenues.
The numbers for January are in, and they're pretty astounding: the state made between $2 million and $3 million in marijuana taxes, meaning that recreational tokers spent somewhere around $500,000 per day on weed in the first month of legalization.
Even more impressive is that the recreational revenue is coming from less than 60 stores state-wide.
Weed in Colorado is taxed on two levels—a 12.9 percent sales tax and a 15 percent excise tax. The first $40 million to roll in from the excise taxes is earmarked for schools; any surplus is left to lawmakers' discretion.
Medical marijuana sales, which are taxed at a different rate, brought in an additional cool million for January.
And now lawmakers are now scrambling to get a piece of the space cake: "The whole world wants to belly up to this trough," state senator Pat Steadman told the AP.
