by Randy Philbrick, Director, SAM Oregon, Fighting Back Against Big Marijuana
“Oregon is reaping the reward with massive tax revenue ”
Yet another claim by legalizers that can’t be proven. Recreational sales started in October of last year, yet the tax only kicked in this past January. That’s three months of tax-free drug sales. In the first month of taxation, Oregon pulled in $3.5 million in tax revenue. In the February, the second month, it dropped to $3.3 for a two-month total of $6.8 million. I know what you’re thinking, “Man that’s great. That’s a lot of money”. Is it really!? Yes, standing alone that amount seems like a lot of money. But when you put it next to the state’s operating budget of $60 billion , the measly $6.8 million now looks like our planet sitting next to Jupiter. If that trend stayed all year that would be $40 million for the year. Again, planet earth sitting next to Jupiter.
I can also tell you that trend won’t stay all year. As of this month, the tax on marijuana dropped from 25% to 17%. That’s a 32% reduction in the tax revenue. Continue reading Tax Revenue Claims Appear to be Hollow in Oregon