Impending Collapse

[gcode]

https://abcnews.go.com/Business/wireStory/california-pot-companies-warn-impending-industry-collapse-81820209">California Pot Industry is on the ropes

LOS ANGELES -- Leading California cannabis companies warned Gov. Gavin Newsom on Friday that the state's legal industry was on the verge of collapse and needed immediate tax cuts and a rapid expansion of retail outlets to steady the shaky marketplace.

The letter signed by more than two dozen executives, industry officials and legalization advocates followed years of complaints that the heavily taxed and regulated industry was unable to compete with the widespread illegal economy, where consumer prices are far lower and sales are double or triple the legal business.

Four years after broad legal sales began, "our industry is collapsing," said the letter, which also was sent to legislative leaders in Sacramento.

The industry leaders asked for an immediate lifting of the cultivation tax placed on growers, a three-year holiday from the excise tax and an expansion of retail shops throughout much of the state. It's estimated that about two-thirds of California cities remain without dispensaries, since it's up to local governments to authorize sales and production.

The current system "is rigged for all to fail," they wrote.

"The opportunity to create a robust legal market has been squandered as a result of excessive taxation," the letter said. "Seventy-five percent of cannabis in California is consumed in the illicit market and is untested and unsafe."

[RobertELee]

But I thought they said if they legalized it the illegal stuff would go away?

[gcode]

But I thought they said if they legalized it the illegal stuff would go away?

on an even playing field maybe, but the rapacious government in Taxafornia
taxes the legal market to the point that black market pot costs half what legal pot does.

[Del.]

Only California could fuck up weed sales.

[Incogneeto]

Only California could fuck up weed sales.

Don't be a "Bogart" Del.

[RobertELee]

But I thought they said if they legalized it the illegal stuff would go away?

on an even playing field maybe, but the rapacious government in Taxafornia
taxes the legal market to the point that black market pot costs half what legal pot does.

I somewhat recall this being one of the major complaints at the beginning. The legal market knew exactly what they were getting into when they started. Government is still run by a bunch of retards, but I don't feel bad for the legal guys either.

[Incogneeto]

https://abcnews.go.com/Business/wireStory/california-pot-companies-warn-impending-industry-collapse-81820209">California Pot Industry is on the ropes

LOS ANGELES -- Leading California cannabis companies warned Gov. Gavin Newsom on Friday that the state's legal industry was on the verge of collapse and needed immediate tax cuts and a rapid expansion of retail outlets to steady the shaky marketplace.

The letter signed by more than two dozen executives, industry officials and legalization advocates followed years of complaints that the heavily taxed and regulated industry was unable to compete with the widespread illegal economy, where consumer prices are far lower and sales are double or triple the legal business.

Four years after broad legal sales began, "our industry is collapsing," said the letter, which also was sent to legislative leaders in Sacramento.

The industry leaders asked for an immediate lifting of the cultivation tax placed on growers, a three-year holiday from the excise tax and an expansion of retail shops throughout much of the state. It's estimated that about two-thirds of California cities remain without dispensaries, since it's up to local governments to authorize sales and production.

The current system "is rigged for all to fail," they wrote.

"The opportunity to create a robust legal market has been squandered as a result of excessive taxation," the letter said. "Seventy-five percent of cannabis in California is consumed in the illicit market and is untested and unsafe."

Sooooo you are saying "The Taxes are High"???

Get it ?? "The Taxes are high"???        

[Incogneeto]

But I thought they said if they legalized it the illegal stuff would go away?

on an even playing field maybe, but the rapacious government in Taxafornia
taxes the legal market to the point that black market pot costs half what legal pot does.

I somewhat recall this being one of the major complaints at the beginning. The legal market knew exactly what they were getting into when they started. Government is still run by a bunch of retards, but I don't feel bad for the legal guys either.

Right now I would be Laughing at all the People who Bought stocks in This.......Sell!! Sell!! Sell!!!

[Del.]

My stock is tax free.

[Incogneeto]

My stock is tax free.

"REPORTED TO BIDEN"!!!!!

https://www.msn.com/en-us/news/politics/president-biden-wants-more-money-for-the-irs-heres-what-the-agency-would-do-with-it/ar-AARWhki?ocid=uxbndlbing">https://www.msn.com/en-us/news/politics ... uxbndlbing">https://www.msn.com/en-us/news/politics/president-biden-wants-more-money-for-the-irs-heres-what-the-agency-would-do-with-it/ar-AARWhki?ocid=uxbndlbing

[mkd]

I'm a bag holder on a cannibus stock.
 Not the kind of bag holder you'd want to be for this industry.
 Judging the staggering about it's dropped, I'd say they are right.

[Jim at Gentex]

Wait...wut?  :huh:
The legal pot industry in Kalifornistan wants a TAX CUT???

I think they have been consuming too much of their own product.      
( Ummmmmmmm....dude...California doesn't DO tax cuts...EVER...)

My prediction is that Governor Gruesome will likely RAISE their taxes now that they have had the audacity to ask for a tax cut!  

[CNCAppsJames]

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[BrianP.]

Talking with one of the young guys here. The 1mg vape cartridges that sell in the pot stores here in Massachusetts, the California of the East, for $75-$85 he can get for $20-$25. Taxes are extremely high on the products.

[Hardmill]

Cheaper to just grow your own        














PEACE