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Step by Step, Pot-Legalizing States Free Their Marijuana Markets

Submitted by Marijuana News on Tue, 02/16/2016 - 02:07

Officials learn the hard way that high taxes and red tape just encourage black markets to continue

 

ven as they embarked on a deliberate experiment in legalizing marijuana for recreational use, the states taking the plunge unintentionally (we can only hope) initiated a second experiment. In dropping overt bans on the stuff while appeasing critics with reams of regulation, could they so bind the marijuana trade in red tape and taxes that they retained all the flaws of prohibition and gained few of the advantages of legalized status?

The answer was very quickly a big "yup." But officials may just be learning from the experience and fixing their early mistakes. A little.

Last summer I wrote that federal financial restrictions, as well as restrictive state rules and high taxes, had conspired to keep the marijuana black market alive and profitable in Alaska, Colorado, Oregon, Washington, and Washington, D.C.,...

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http://reason.com/archives/2016/02/16/step-by-step-pot-legalizing-states-free
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