• Cannabis News

COLORADO YTD POT REVENUES JUMP 33% WITH AUGUST SETTING NEW RECORD


According to the Colorado Department of Revenues most recently published marijuana tax report, during the first eight months of 2016, Colorado medical and adult-use marijuana hit $846 million jumping 33% from the same period last year.  According to a Pew Research Center poll, 57% of Americans say marijuana should be legal so it's easy to see why pot sales are on the rise.

In Colorado,  medical and retail marijuana is presented with a 2.9% sales tax and retail marijuana is presented with 10% special sales tax. These tax dollars recently funded a television commercial that can be found online and should be hitting a television set near you very soon.

The state is attempting to run television commercials telling parents to talk to their kids about pot. LOL!  Come on Denver, you're missing the point just like the mighty ones that funded the DARE program.  Now if you smarten up, you'll produce commercials telling kids to talk to their parents about weed!

It is amazing that children are used in the pot wars. In some sociopaths minds, saying legalizing pot will keep it out of the hands of children, is like saying there's a drought when the planet is mostly water. Do you remember being 13?  I can walk into any neighborhood and within a very short time, some teen will be able to do a drug hook up.

Not to digress, that's another topic.

$126 million in recreational cannabis sales was reported for the month of August which is said to be a new record for the state’s marijuana industry.  Rec sales were nearly $85 million of the total. That's up 43% from the same time a year ago.  It's reported that Adult-use sales jumped nearly 50% over the same period this time last year through August. The  comparison is during the first eight months of 2015.

According to a Pew Research center study poll, younger Americans are leading the shift in support of cannabis legalization, and it's no wonder. Younger Americans have grown up in favorable circumstances led by direct knowledge instead of propaganda. They have encompassed technology at a rate that propels the advent of new technologies so rapidly, last year's generation is still trying to figure out how to program their VCR while the younger generation forces expansion and growth. - Hey, didn't anybody ever tell you those VCR things are obsolete? - Lest you remember - or forget - Blockbuster Video Rental Stores? LOL!

The University of Colorado Leeds School of Business released a report that Colorado’s employment growth is meeting expectations and the economy continues to outperform the nation. The report stated that Colorado Employment is growing faster, housing is hotter and incomes are higher. Food and chemical manufacturing added 1,200 jobs between 2014 and 2015 and manufacturing as a whole added 6,100 jobs.

The legalization of marijuana is expected to continue to drive growth in retail sales and employment in Colorado and many other states as the November ballot quickly approaches.  A recent national Gallup poll showed that 58% of respondents were in favor of nationwide legalization so it easy to see where this is headed. Less alcohol related accidents and deaths is one outcome we can insure!

Be Well.

MrD.

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