Enough with the doctors’ prescriptions and medicated gummy worms—how much money can California and Sacramento rake in if marijuana is legalized?
It’s a question political leaders and traditional media outlets are not just quietly wondering—they’re straight-up shouting it out loud on the heels of Colorado and Washington’s big free-weed moment.
Because, frankly, the payday’s looking pretty sweet. Up north in Washington, its Office of Financial Management estimated in August 2012 that legalization would generate the state more than $500 million in tax revenue annually just through the implementation of a pot tax. And that’s just special tax revenue alone, not total economic impact.