Cenk Uygur
@TheYoungTurks·6.5M subscribers·72.8K videos
Legalized Marijuana = Millions For Public Schools In Colorado
Posted
March 16, 2015
Views
63,150
Likes
1,665
Comments
405
Engagement
3.28%
March 16, 2015
63,150
1,665
405
3.28%
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4:26Now Playing"Colorado collected $2.3 million in excise taxes on the sale of recreational marijuana during the first month of 2015, 10 times the tax revenue generated in January last year.
The 15% retail marijuana excise tax, which goes toward public schools and construction fees, earned exactly $2,332,843 in January 2015, according to a monthly report released by the state’s Department of Revenue. Last year, during the first month of sales, the school fund totaled $195,318.
Residents voted in November 2013 for an aggressive 10% sales tax and a 15% excise tax on recreational marijuana sales. Medical and recreational cannabis-related revenue also comes from a standard sales tax, as well as license fees.
Marijuana-related revenue not allocated to the school fund goes towards such things as substance abuse programs, medical research, and police training."
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Cenk Uygur (), Ana Kasparian (), John Iadarola () and Jimmy Dore () of The Young Turks discuss.
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