Free pot consumption will bring money to California
The law project meant to legalize marijuana in California will rise the supply and the demand to such an extent that the pot prices might fall with 90 percent of their current value. RAND Drug Policy Research Center says that if California will legalize pot in November prices might drop from 375 dollars an ounce under the state’s medical marijuana law to 38 dollars per ounce before taxes if marijuana becomes available to the whole public. There is no estimation for the revenue that legalized pot would bring California, but there are presumptions that marijuana tourism similar to the one in Amsterdam will start and that dealers from other states will come to buy from California and sell it somewhere else.
RAND analyzed marijuana prices, taxes applied to cigarettes and the current pot consumption and tried to determine the possible outcomes that might be generated from pot consumption.
The California Board of Equalization made a study according showing that sales taxes and a 50 dollars per ounce excise tax on commercial marijuana sales would generate 1.4 billion dollars for the Californian budget. The RAND team also said that the level of pot consumption in California will go up for sure and it may even reach the same level as in the 1970s.
