LA's staggering cannabis problem could cost the city $400M

volsrocks

volsrocks

Verified User
The legal cannabis market in Los Angeles is hitting a breaking point. At least two-thirds of LA weed businesses have failed to pay their local taxes, and the city is currently out hundreds of millions of dollars in lost revenue.

The LA cannabis market, which is the largest in the state, has been struggling for years. The city has failed to shut down a thriving illicit market, which has attracted customers to tax-free products, while legal shops are saddled with high taxes and regulatory costs.



Make it legal they said..no more illicit market for it they said

Tax it make money they said

:magagrin:




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LA prioritized giving licenses to people harmed by the war on drugs, including low-income residents and people of color — meaning that a large portion of tax-owing businesses come from these same marginalized groups. Today, many of these “social equity” license holders are now holding millions of dollars in debt and may not even have a functioning business to show for it.



So Blacks didn't pay their tax...imagine that
 
volsrocks said:
LA prioritized giving licenses to people harmed by the war on drugs, including low-income residents and people of color — meaning that a large portion of tax-owing businesses come from these same marginalized groups. Today, many of these “social equity” license holders are now holding millions of dollars in debt and may not even have a functioning business to show for it.



So Blacks didn't pay their tax...imagine that
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^^FORUM RACIST
 
Hume said:
^^FORUM RACIST
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LA prioritized giving licenses to people harmed by the war on drugs, including low-income residents and """"people of color""" — meaning that a large portion of tax-owing businesses come from these same marginalized groups. Today, many of these “social equity” license holders are now holding millions of dollars in debt and may not even have a functioning business to show for it.


Are u saying thats not true
 
volsrocks said:
LA prioritized giving licenses to people harmed by the war on drugs, including low-income residents and people of color — meaning that a large portion of tax-owing businesses come from these same marginalized groups. Today, many of these “social equity” license holders are now holding millions of dollars in debt and may not even have a functioning business to show for it.


Are u saying thats not true
Click to expand...
^^FORUM RACIST
 
volsrocks said:
The legal cannabis market in Los Angeles is hitting a breaking point. At least two-thirds of LA weed businesses have failed to pay their local taxes, and the city is currently out hundreds of millions of dollars in lost revenue.

The LA cannabis market, which is the largest in the state, has been struggling for years. The city has failed to shut down a thriving illicit market, which has attracted customers to tax-free products, while legal shops are saddled with high taxes and regulatory costs.



Make it legal they said..no more illicit market for it they said

Tax it make money they said

:magagrin:




0012000001fxZm9AAE
Click to expand...
Yeah... I warned back in the day when they were legalizing it, if you tax it too much folks will just buy it from Bob.
 
Hume said:
No. In my state you can buy pot much cheaper than the black market. And it is much better in quality.
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Here too actually. However in LA they overtaxed it and you can buy it much more cheaply from Bob. I support legalizing it. I support legalizing all of the drugs...
 
volsrocks said:
And the fine people they gave the licenses to stole the tax money
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Here they wouldn't let them put the money in the bank, and they were getting robbed because there were mounds of cash lying about. They had to create special banks for them. LOL. Stupid unpredictable consequences.
 
Damocles said:
Yeah... I warned back in the day when they were legalizing it, if you tax it too much folks will just buy it from Bob.
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It's a combination of high taxes and a lot of burdensome regulations that forces shops to have charge much more.

I'd love to find the old threads we had here discussing this with people saying (and I remember Desh saying this) legalize it and tax the sh*t out it. Well...
 
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