Cannabis Tax Revenue on 4/20/23 or if You Prefer 420

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Prior to 1913 Cannabis was legal in California and then it wasn't until 1976. But then prior to 1907 selling Opium, cocaine & morphine was legal. Currently cannabis tax revenue exceeds alcohol!

The Poison and Pharmacy Act of 1907 prohibited selling of opium, cocaine, and morphine. Primarily addressing the increased influx of those drugs entering the U.S. from Asia.  How Chemists Pushed for Consumer Protection: The Food and Drugs Act of 1906 

Marijuana (cannabis) was added in 1913 to the list of prohibited narcotics, some accounts suggest it was because of the increased number of Mexican immigrants who brought Marihuana with them, continuing their back home habit of using it for medicinal purposes. Ironically the same component was used in some U.S. medical formulations under the name cannabis. 

By 1937 the U.S. federal government began to TAX cannabis, using the Mexican terminology in the name of the act:  "Marihuana Tax Act of 1937".  The court legislated its repeal in 1969 in " Leary v. United States and then Congress codified that decision in 1970.  The Plaintiff was Timothy Leary,  a professor and activist, famous for saying  "Turn on, tune in, drop out"

The 1970 legislation established Schedules for ranking substances according to their dangerousness and potential for addiction.

California became the first state in the union to prohibit the sale of marijuana until in 1996 with the Compassionate Use Act of 1996  they became the first state to legalize it, for medical purposes.  However, along with legalizing cannabis it became a separate category in taxation computations.   

Colorado has collected $1.6 billion in marijuana sales taxes and fee revenue from 2015 to 2021. Cannabis Tax Revenue Over $10 Billion, Exceeds Alcohol in Some Places (marketrealist.com)   States Surpass $10 Billion in Tax Revenue from Legal, Adult-Use Cannabis Sales (mpp.org)

State Recreational Marijuana Taxes, 2021 | Tax Foundation

Ironically in the auto industry the most common cause of the P0420 code is a faulty catalytic converter, which is designed to convert poisons to manageable compounds!!

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