Legalizing Weed May Actually Benefit Taxpayers

The good news for Colorado taxpayers is that the tax money being harvested off of legalized marijuana may wind up being rebated to taxpayers in the Centennial State.  The bad news is that . . . well, the money is going to be refunded to taxpayers instead of being  turned over to the state government to spend. 

    The first state in the US to legalise recreational cannabis has encountered a problem: taxes raised from sales of the drug are too high.

    Sales of pot will yield estimated tax revenues of $58 million in Colorado in the current fiscal year. The money was intended to go towards projects such as school construction, law enforcement and drug education.

The revenues may now have to be returned to taxpayers because Colorado underestimated the overall amount of tax it was likely to raise when voters were asked to decide whether to legalise cannabis.

    State rules tightly regulate how much Colorado can raise and spend, described by critics as a product of “anti-tax zealotry”. The state legislature is now trying to enact new laws that would stop them from having to pay each citizen about $11 — their share of the windfall. Those who oppose giving the money back describe the situation as “refund madness”.

Damned taxpayers.  It's almost as if they think it's their money.