Colorado voters overwhelmingly approve state marijuana tax - 0 views
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Dina B on 10 Nov 13This article talks about how voters in the Colorado state have voted to approve 'proposition AA' which imposes a 15 percent excise tax and an initial 10 percent sales tax on recreational marijuana. If proposition AA approves it it predicted to bring in $67 million a year. This shows how the government can put such a high excise tax on inelastic goods and people will still be willing to pay for it.