The debate over taxes now extends to pot. Colorado voted to legalize marijuana but lawmakers have been debating how to tax it, and that debate is partisan. Democrats want taxes high, saying consumers will gladly pay. Republicans want lower taxes, saying otherwise a black market will develop. But to their credit, lawmakers took a deep breath, inhaled, and let the system work. After considering a 30 percent tax, the State House trimmed it to 25.
Colorado is set to become the first U.S. state to regulate and tax sales of recreational marijuana, after lawmakers approved several bills that set business standards and rules. Legislators expect enforcement of the rules to be paid for by two taxes on marijuana — a 15 percent excise tax, and a 10 percent sales tax.
Other measures included in the package set limits on how much marijuana visitors to Colorado can buy (a quarter of an ounce), as well as a limit on how many cannabis plants a private citizen can grow (six).