In the states that allow adults 21 and over to use cannabis without fear of jail, cannabis tax revenue far, far exceeds alcohol tax revenue
, a senior policy analyst at the Tax Foundation, a Washington, D.C.-based think tank, who called rhetoric like the pitch a few years ago in New York that weed taxes could fix the subway as “dangerous.”LAS VEGAS, NV - JULY 06: David Burr demonstrates removing leaves on marijuana plants to allow morelight for growth at Essence Vegas' 54,000-square-foot marijuana cultivation facility on July 6, 2017 in Las Vegas, Nevada.
“Higher tax revenues don’t mean more cannabis sold since state governments are generally taking 30 cents of every dollar spent on cannabis, much higher than the average tax rate on alcohol,” said Joe Caltabiano, the CEO of, a cannabis-sector SPAC, who co-founded billion-dollar multi-state operator Cresco Labs.
About 55 percent of Americans drink once a month and 25.8 percent of Americans binge drink, which is defined as consuming five or more drinks in a sitting for men and four drinks or more for women. In Colorado, where cannabis use is normalized and where adult-use stores have been open for eight years, 18.8 percent of adults reported binge-drinking, compared to 16.6 percent who reported past-month cannabis use.
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