States advocated lotteries with proceeds going to benefit Senior Citizens. The whole MJ industry could do the same with massive profits going toward Social Security or whatever. What is the holdup here?
The solution is for the DEA to remove cannabis from its scheduled list of controlled drugs. Then open the bank vaults.
2
What are the legal ramifications of a state starting it's own bank and making it state insured? I know it couldn't be federally insured but why not state run, state regulated, state insured dealing only in the marijuana business, at least at first, with funds going to the state to ensure loss?
Pot is against Federal Law, it is that simple.
1
The solution is for the DEA to reschedule cannabis to a class 4/5. I predict that it will happen in 2015. The American Academy of Pediatrics has petitioned the DEA to remove it from it's schedule 1 status. The new Surgeon General is on record stating that cannabis is medicine. The US Drug Zar said that the will of DC residents should be allowed. Cannabis prohibition is ENDING! Get the bank vaults ready.
As long as law enforcement is allowed to legally extort money and property from citizens,any talk of true legalization on the federal level is dubious at best.
Dealing in large amounts of untraceable cash while conducting our businesses is a nightmare more of us would like to have. Holstering powerful handguns with a round in the chamber only adds to this dream, er, nightmare scenario. Nothing says "important" in America like guns and money. Heck, our entire foreign policy is based on these two bedrock values.
I think those who want this glaring, Federally-induced set of problems to go away should stage several realistic-looking robberies, complete with wounded and killed money couriers who would ooze fake blood after fighting vicious thugs in a running gun battle, all of it filmed on iPhones, with hand-held camera work and dubbed sound effects.
Somehow, legalization has not made all of our drug-use problems in America go away. It must not be the legalization argument which is faulty. It must the fault of Big Government. Yeah, that's who we should blame, those 'revenuers'.
1
Has anyone thought of creating a trust account, into which cash could be deposited and trust certificates in denominations would be issued? The trust could be a private entity and the certificates could be negotiated to third parties. Sort of like negotiable IOU's.
Insurance could be placed on the trust certificates by large surety corporations.
No government involvement, no cash on hand.
Insurance could be placed on the trust certificates by large surety corporations.
No government involvement, no cash on hand.
1
I consider myself a conservative person, but my main credo is personal rights and the right to privacy. It is my solemn belief that the "War on Drugs" is a criminal waste of time and money. It puts way to much power in the hands of the government and the police and has turned the fourth amendment into a joke.
Unless you are a terrorist there is no reason for anyone's door to be kicked in by jack-booted swat teams. This "war" does nothing but fund international terrorism and fuel the un-godly violence in Mexico in the effort to feed the American head.
All the money pissed away and lives ruined could be saved by re-hab and more education. Think of all the heroin OD'd that could be avoided if it's potency could be regulated. Those who are going to abuse will abuse anyway. Those that will throw their lives away will do so legally or illegally. Why must it be everyone else's burden. Didn't we learn anything from prohibition.
Unless you are a terrorist there is no reason for anyone's door to be kicked in by jack-booted swat teams. This "war" does nothing but fund international terrorism and fuel the un-godly violence in Mexico in the effort to feed the American head.
All the money pissed away and lives ruined could be saved by re-hab and more education. Think of all the heroin OD'd that could be avoided if it's potency could be regulated. Those who are going to abuse will abuse anyway. Those that will throw their lives away will do so legally or illegally. Why must it be everyone else's burden. Didn't we learn anything from prohibition.
7
Why not Bitcoin? Peer-to-Peer, totally secure, the money goes directly from the customer to the merchant, just like cash only better, because it doesn't need to be carried in an armored truck to the bank!
Each transaction costs less than $.03 cents.
Just think of all the money these businesses would save.
Each transaction costs less than $.03 cents.
Just think of all the money these businesses would save.
lol....looks like it's going to be a wait.... 2 billion just got added to the drug war budget from 2014, the new AG is anti pot, the feds are trying to seize Harborside and the feds are prosecuting 5 state complaint patients in WA, the Kettle Falls Five....
The feds can just wait it out on the secrete, private company, the IRS, who can tax them at 100% or more if they want (and they are to some in CO) ...then no one will need the bank after the IRS gets it all.
The feds can just wait it out on the secrete, private company, the IRS, who can tax them at 100% or more if they want (and they are to some in CO) ...then no one will need the bank after the IRS gets it all.
A few questions:
1. Have there been any people arrested this week anywhere in the country for marijuana, and jailed, and how many of them were minorities?
2. Have their been any people sentenced to prison terms over the last 2-3 months (or even over the last year or so) for marijuana anywhere in the country, and how many of them were minorities?
3. Are there any people currently serving jail sentences, long or short, anywhere in the country for marijuana, and how many of them are minorities?
4. Does it seem fair that some people could be getting rich, not only growing and selling marijuana, but also being able to set up a financial entity that could potentially leverage and multiply those gains, possibly exponentially to become billionaires in the case of clever engineering (and if they don't know how to optimise and maximise - Wall Street will be lining up to service them for sure), while others, minority or not, may be serving time in jail for similar activity, though perhaps a little haplessly ?
(Obviously this won't happen overnight, and maybe not via a simple credit union at first, but it's a first step, and of course there is nothing wrong with working hard, being clever, having some luck, maybe some privilege as well, and making a lot of money).
5. But what about that other guy sitting in jail for marijuana, on the wrong side of luck?
1. Have there been any people arrested this week anywhere in the country for marijuana, and jailed, and how many of them were minorities?
2. Have their been any people sentenced to prison terms over the last 2-3 months (or even over the last year or so) for marijuana anywhere in the country, and how many of them were minorities?
3. Are there any people currently serving jail sentences, long or short, anywhere in the country for marijuana, and how many of them are minorities?
4. Does it seem fair that some people could be getting rich, not only growing and selling marijuana, but also being able to set up a financial entity that could potentially leverage and multiply those gains, possibly exponentially to become billionaires in the case of clever engineering (and if they don't know how to optimise and maximise - Wall Street will be lining up to service them for sure), while others, minority or not, may be serving time in jail for similar activity, though perhaps a little haplessly ?
(Obviously this won't happen overnight, and maybe not via a simple credit union at first, but it's a first step, and of course there is nothing wrong with working hard, being clever, having some luck, maybe some privilege as well, and making a lot of money).
5. But what about that other guy sitting in jail for marijuana, on the wrong side of luck?
3
It is time to eliminate unnecessary Federal regulations that are keeping these entrepreneurs from becoming JOB CREATORS! Republicans should be lining up to help these people create jobs... ;>)
3
Seriously? Republicans like their leftist counter parts don't care about jobs, state's rights, or small government unless they can dupe people into thinking they do so they can stay in power. I love how republicans go around crying small government as long as it doesn't apply to, pot, marriage, rights of association, civil forfeiture, militarization of police, regulatory agencies having their own militia, DHS, NSA spying, increased intervention in foreign countries, increased spending, including increased spending and size of our military industrial complex (I'm for a strong military and support spending to that end but forcing equipment on the military it doesn't need, want, or doesn't work is ludicrous) just to name a few.
2
"Mr. Mason said the application was on the desk of a specialist in bank risk, a guy named Ryan Harwell in Kansas City, the Fed’s Midwest regional office that oversees the Denver branch."
Mr. Harwell is a Mormon, and Mormons have a "revelation" called "Word of Wisdom." It's found in Doctrine and Covenants 89. and it prohibits use of "herbs" such as tobacco and marijuana, but recommends tobacco for treating cattle. Loco weed is presumably not good for cattle, either.
Good luck with that 'master account," Mr. Mason.
Mr. Harwell is a Mormon, and Mormons have a "revelation" called "Word of Wisdom." It's found in Doctrine and Covenants 89. and it prohibits use of "herbs" such as tobacco and marijuana, but recommends tobacco for treating cattle. Loco weed is presumably not good for cattle, either.
Good luck with that 'master account," Mr. Mason.
1
Excellent money laundering opportunity when those cash deposits start pouring in when the bank is approved.
Some of the Washington credit unions (I believe Salal Credit Union is one of them) accept deposits from the cannabis industry.
As a former head accountant for a 'clinic' the problem is not whether to let them have access to banking ( & merchant processing); it is the tons of cash that never sees the bank, escapes taxation and distorts the financials.
Republicans, so called "lovers of liberty", please do something useful and help to fix this situation instead of passing bill after bill that the president will veto or the senate will filibuster.
3
There have been many news articles recently along the lines of 'Why Doesn't The Public Trust Science?'. When the government sanctioned scientists insist that cannabis is a Schedule 1 drug when the research and data from the last 30 years prove otherwise, perhaps we can understand some of the mistrust.
1
The data is several thousand years old that cannabis is largely harmless.
Let's assume that marijuana sales become legal nationally and a Federal tax is, then, imposed on the sale of marijuana. What will happen to the product's price? Will the states see a revenue decrease, as a result of market competition?
From the Congressional Research Service:
http://fas.org/sgp/crs/misc/R43785.pdf
"The combination of state policy and general public opinion favoring the legalizing of marijuana
has led some in Congress to advocate for legalization and taxation of marijuana at the federal
level. The Marijuana Tax Equity Act of 2013 (H.R. 501) would impose a federal excise tax of
50% on the producer and importer price of marijuana. The National Commission on Federal
Marijuana Policy Act of 2013 (H.R. 1635) proposes establishing a National Commission on
Federal Marijuana Policy that would review the potential revenue generated by taxing marijuana,
among other things. "
From the Congressional Research Service:
http://fas.org/sgp/crs/misc/R43785.pdf
"The combination of state policy and general public opinion favoring the legalizing of marijuana
has led some in Congress to advocate for legalization and taxation of marijuana at the federal
level. The Marijuana Tax Equity Act of 2013 (H.R. 501) would impose a federal excise tax of
50% on the producer and importer price of marijuana. The National Commission on Federal
Marijuana Policy Act of 2013 (H.R. 1635) proposes establishing a National Commission on
Federal Marijuana Policy that would review the potential revenue generated by taxing marijuana,
among other things. "
Whether you are for or against pot legalization:
1. The experiment is underway in several states where production, sale and monitoring will, after adjustments, determine the magnitude of its use and abuse.
2. Unregulated pot, like many herbal supplements, is not controlled for purity (pesticides,other toxins and adulteration) and potency. Regulated pot will be.
3. Legalization brings in revenue which can be used in part, to better control its use.
4. Where legal, marijuana can be effectively studied for its medical benefits (and there are medical benefits).
1. The experiment is underway in several states where production, sale and monitoring will, after adjustments, determine the magnitude of its use and abuse.
2. Unregulated pot, like many herbal supplements, is not controlled for purity (pesticides,other toxins and adulteration) and potency. Regulated pot will be.
3. Legalization brings in revenue which can be used in part, to better control its use.
4. Where legal, marijuana can be effectively studied for its medical benefits (and there are medical benefits).
13
It's difficult indeed to find a logical line of thought in the actions of the Federal Government as pertains to marijuana (amongst other issues). Presently, cannabis is classified as "Schedule I", meaning it has a high abuse potential and no recognized medical use: both of these assumptions are factually inaccurate, as demonstrated by numerous peer-reviewed articles in the medical literature and by the tacit acknowledgement of the Feds themselves, as demonstrated by "permitting" medical marijuana use in many states. Incidentally, the US Surgeon General also recently demolished the "no medical use" claim.
Contrary to Mr. Obama's assertions, re-classification or even declassification of any controlled substance is his Executive prerogative: that action requires no endorsement from the Legislative or Judicial branches. Yet, by coyly undermining the objectively failed policy of prohibition, a gap is left for retaliatory enforcement of generally ignored laws, this in the form of civil asset forfeiture, amongst other options. Banked funds are a tempting target.
Present Federal policy also permits continuation of the lucrative "war on drugs". So, with this incoherent approach, everybody is happy...except perhaps those citizens who are engulfed in legal issues when they encounter capricious and avaricious law enforcement, which is a probable outcome of the approach the Feds presently encourage.
Contrary to Mr. Obama's assertions, re-classification or even declassification of any controlled substance is his Executive prerogative: that action requires no endorsement from the Legislative or Judicial branches. Yet, by coyly undermining the objectively failed policy of prohibition, a gap is left for retaliatory enforcement of generally ignored laws, this in the form of civil asset forfeiture, amongst other options. Banked funds are a tempting target.
Present Federal policy also permits continuation of the lucrative "war on drugs". So, with this incoherent approach, everybody is happy...except perhaps those citizens who are engulfed in legal issues when they encounter capricious and avaricious law enforcement, which is a probable outcome of the approach the Feds presently encourage.
4
It would be a dis-service to those entrepreneurs who are just engaging in supply side economics for the federal government to continue to stem the tide of marijuana culture by blocking the banking needs of the business owners. The antiquated marijuana laws were first established in order to control a target group through the legislation and criminalization of users of cannabis. This undercover and prejudicial bias continues to be at the core and underpins the federal government's continued and outdated objections to
modifying the current laws.
The net gain from legalizing marijuana laws as well as changing current banking regulations which stem from these laws, would be to increase the tax base, legitimize as well as regulate the natural drug and ensure the safety of the cannabis user. Naturally, just like tobacco, marijuana contains the potential to be carcinogenic, although there is certainly the potential to scientifically alter Δ9-THC in order to ensure the safety of the product. Marijuana is far less dangerous than the alternatives including pharmaceuticals which address hyperactivity and anxiety in individuals as well as being a preferable choice to avoid the side effects that such pills can cause in patients. I would conclude that the pharmaceutical industry and the powerful lobbyists that are attached to it have a large role in blocking any progress in this regard. The pharmaceutical industry has the money to outgun the marijuana producers in spades unfortunately.
modifying the current laws.
The net gain from legalizing marijuana laws as well as changing current banking regulations which stem from these laws, would be to increase the tax base, legitimize as well as regulate the natural drug and ensure the safety of the cannabis user. Naturally, just like tobacco, marijuana contains the potential to be carcinogenic, although there is certainly the potential to scientifically alter Δ9-THC in order to ensure the safety of the product. Marijuana is far less dangerous than the alternatives including pharmaceuticals which address hyperactivity and anxiety in individuals as well as being a preferable choice to avoid the side effects that such pills can cause in patients. I would conclude that the pharmaceutical industry and the powerful lobbyists that are attached to it have a large role in blocking any progress in this regard. The pharmaceutical industry has the money to outgun the marijuana producers in spades unfortunately.
8
Carla, thanks for pointing out the role of Big Pharma in blocking progress for legalized marijuana! I have long held that they, and perhaps the beer/wine/spirit industries, have much to lose with legalized marijuana, and will fight tooth and nail to keep legalized marijuana suppressed. Forward with the buds!
3
Just the other day I saw the cops handcuff a young man on my street for having a little bit of weed on him. Every single day, police are ruining people's lives for this relatively benign substance. It's time that our federal government put a stop to this inhumane ridiculousness, and at the very least reschedule marijuana out of Schedule 1 and into Schedule 3.
30
I look for President Obama to remove cannabis from the DEA's schedules of drugs altogether. Problem solved.
27
President Obama is highly risk-averse. I do not expect action from him.
Thinking strictly practically, given the infuriatingly stupid policy of the federal government regarding this matter, I urge the kids transporting this cash to buy themselves an armored car.
http://www.texasarmoring.com/
I am not joking. The last thing I want to read is that idiots in Washington got someone killed in a robbery that never should have happened.
http://www.texasarmoring.com/
I am not joking. The last thing I want to read is that idiots in Washington got someone killed in a robbery that never should have happened.
8
Better than the Bank of Crank.
1
Well, the real question is pretty narrow: under what grounds can the Fed refuse to open a master account? The CU is a state-chartered institution, and its legal under state law.
4
Thinking outside the smoke ring. Theoretically the Federal Reserve could approve the union bank application with one pen stroke as no federal laws have yet to be broken and once the banks vacuums up all the deposits from marijuana growers the feds with a second pen stroke could come in shut the bank down confiscate all the money of depositors for illegal money laundering. Then it would default to federal court of law when challenged.
Mr. Mason seems to think that the Federal Reserve is obligated to approve his application by law. If he is so familiar with the law then he should know that Marijuana is illegal in CO due to the Supremacy Clause of the US Constitution - and hence he and all the other ppl growing Marijuana are criminals, AND furthermore are actively seeking to undermine the US Constitution. The legalization of Marijuana will result in the US decline as a Global leader in innovation and military power, as our Citizens become increasingly intoxicated and the harmful effects of Marijuana produce the American Brain, a dwarf and developing Sub-species. I am sure that Russia and China support AMERICAN legalization of Marijuana.
Furthermore, the Federal Gov. and the Obama Admin. does NOT have the authority to allow banks to process such money - this is a Democratic Republic, NOT a dictatorship. Obama does NOT have the authority to DICTATE which laws he will and will not enforce, he is a President - NOT a dictator. This is purely a political move, to make legalization a 2016 issue at the expense of our system of Gov. It is no coincidence that the Democrats are courting the drug addicts votes - they need them and know that a mentally intoxicated population means more votes for them, as their emotional messages appeal more to the stoned than sober thinkers.
Furthermore, the Federal Gov. and the Obama Admin. does NOT have the authority to allow banks to process such money - this is a Democratic Republic, NOT a dictatorship. Obama does NOT have the authority to DICTATE which laws he will and will not enforce, he is a President - NOT a dictator. This is purely a political move, to make legalization a 2016 issue at the expense of our system of Gov. It is no coincidence that the Democrats are courting the drug addicts votes - they need them and know that a mentally intoxicated population means more votes for them, as their emotional messages appeal more to the stoned than sober thinkers.
1
@Qwerty, no offense although what have you been smoking? Ever notice why Magic Mountain is strategically placed in Tomorrowland? Also, did you ever stop to think that although theres a sheriff in Frontierland, he had no influence on the building of Its A Small World After All. Then, lastly about Snow White and all those pesky dwarfs. Lastly, the measles outbreak. What is the world coming to?
8
Forgive me, I sometimes see connections where others do not. For example, my point is that Marijuana will be harmful to the nation's brain power, you seem to brush this away with a funny remark "no offense although what have you been smoking?" - which implies that I have been using drugs and hence my perception and thinking is off. While some may see no connection I find it ironic that to mock someone warning against drugs a person in favor of drugs accuses them of using drugs and hence, having compromised mental facilities.
If my statement seems complicated that is b/c I was commenting on the world and the world IS a complicated place.
If my statement seems complicated that is b/c I was commenting on the world and the world IS a complicated place.
1
Please note that the FDIC insures deposits in a Credit Union, not the NCUA as you indicated. The NCUA would be the primary prudential regulator of a Credit Union, though.
NCUA is the trustee of the National Credit Union Share Insurance Fund (NCUSIF). It is both the prudential regulator and the insurer of all federal and most state-chartered credit unions (which may be privately insured). FDIC is not involved.
http://www.ncua.gov/dataapps/pages/si-ncua.aspx
http://www.ncua.gov/dataapps/pages/si-ncua.aspx
1
Just wait; DEA and FBI will swoop in and confiscate the land, property (real and other) just as soon a republican gets elected. They have lists and are keeping watch. The arrest and seizure warrants just have to be merged with the database. If the banking was sanctioned, it would be tacit approval by the government and DEA hands would be tied. The cops are counting down the days. My advice to all you drug dealers in disguise, put the property in your children's names, wash the cash through legitimate offshore business, buy diamonds or gold and bury it until things blow over. We know who you are and will will find you and if we can't jail you , seize all your assets via civil forfeiture. We have willing federal judges as well.
Unless Congress acts, come on, the safest mind altering substance, will remain classified with the most lethal and addictive! Go figure!
Keep in mind its just one aspect of the regulatory state we are increasingly ruled by.
Unless Congress acts, come on, the safest mind altering substance, will remain classified with the most lethal and addictive! Go figure!
Keep in mind its just one aspect of the regulatory state we are increasingly ruled by.
1
A checkerboard of US states with legal and illegal status means greater temptation for local officials to aid interstate smuggling.
1
We know this... so why is it news....
Frankly. I think legalized mj should mean everyone gets to grow his own.
Frankly. I think legalized mj should mean everyone gets to grow his own.
6
Couldn't agree more.
Prohibition didn't work the first time.
But let's face it--the police departments and prison unions are making a lot of money on it. That's why prohibition keeps going.
But let's face it--the police departments and prison unions are making a lot of money on it. That's why prohibition keeps going.
12
With several states investigating the process of legalization, and individual municipalities also considering legalization, when will the powers that be realize that the time to legalize is imminent? Between the health benefits to those using it for medicinal purposes, to the gazillion other uses, legalizing makes dollars, cents, and sense.
2
Tear down that wall of federal marijuana prohibition idiocy, President Obama.
Have a smoke and a smile.
Have a smoke and a smile.
17
Excellent article. Nice case study on the demand for credit and banking services complete with institutional context. If I taught Money and Banking, I would assign it.
3
The world is spinning out of control with humanity on the brink of extinction, but we still are worried about cannabis. Kids shooting their parents in the behind, a hundred wars raging across the globe, heroin and opiate consumption at ever increasing levels, I could go on and on. Potheads are not dangerous, end the war on cannabis.
57
I'm 66. I've been listening to potheads since I was a freshman at Cal Berkeley in 1966-67. Nothing's changed. Potheads are still potheads. But now they're in government.
If the Federal Reserve approves this application, then the corruption of our legal institutions will be complete.
Marijuana commerce is against federal law. Doesn't matter if the law is bad. If the Feds allow it to be circumvented (as the Holder DOJ has), then contempt for the law is the result.
Note to commenters: it is one thing to have "contempt" for a bad law; another to see the authorities wholesale refuse to enforce valid laws. The latter is a dangerous precedent.
What if Idaho decides to allow unlimited hunting of waterfowl and eagles, despite federal law? Why not, if states get to choose. There are thousands of examples.
Marijuana commerce is against federal law. Doesn't matter if the law is bad. If the Feds allow it to be circumvented (as the Holder DOJ has), then contempt for the law is the result.
Note to commenters: it is one thing to have "contempt" for a bad law; another to see the authorities wholesale refuse to enforce valid laws. The latter is a dangerous precedent.
What if Idaho decides to allow unlimited hunting of waterfowl and eagles, despite federal law? Why not, if states get to choose. There are thousands of examples.
7
The prohibition of marijuana is not "valid" by any absurd stretch if the imagination.
33
Unfortunately, "states rights" is a two-edged sword...
Laws concerning marijuana need to be changed at the federal level or what? Chaos? Scoff laws? More contempt for government at all levels? More, not less, criminal influence? Or, the worst possible: political posturing much like we've seen in the battles for civil rights, voters rights, marriage rights, etc. that waste money, time, efforts and reputations.
Laws concerning marijuana need to be changed at the federal level or what? Chaos? Scoff laws? More contempt for government at all levels? More, not less, criminal influence? Or, the worst possible: political posturing much like we've seen in the battles for civil rights, voters rights, marriage rights, etc. that waste money, time, efforts and reputations.
18
Federal law regarding marijuana is so absurd at this point it just has no legitimacy. Classifying pot as a Schedule 1 narcotic is scientifically invalid and morally wrong. It's as wrong as the sodomy and miscenegenation laws that are still on the books (though unenforced) in some states. That the classification still exists is testament to the federal paralysis over drug policy, general dysfunction in Washington and simple institutional inertia.
Now that Obama seems to finally be acting on his principles instead of trying to appease radical Republicans, maybe he can do the right thing and get the Schedule 1 classification overturned. That would enable a sensible federal policy to move forward. Pot could be treated with common sense, policy could be left to the states, and federal law enforcement could focus -- as it should -- on cocaine, meth and heroin, drugs that actually kill people.
Now that Obama seems to finally be acting on his principles instead of trying to appease radical Republicans, maybe he can do the right thing and get the Schedule 1 classification overturned. That would enable a sensible federal policy to move forward. Pot could be treated with common sense, policy could be left to the states, and federal law enforcement could focus -- as it should -- on cocaine, meth and heroin, drugs that actually kill people.
76
The government policy re banking is just as stupid as classifying marijuana as a Schedule 1 narcotic was in the first place. In the future, pot is going to be legal in a lot of places. That is democracy, that is reality.
So do you want the industry underground where it can't be taxed and where law enforcement has extreme difficulty monitoring anything? Do you want the industry to send its money offshore to the Caymans or into Bitcoin banks?
Do you want to support money laundries and gangsters and sleazy offshore and Swiss banks, or do you want to support credit unions in the United States, who will put this money to work in the American economy? This is not rocket science, folks.
So do you want the industry underground where it can't be taxed and where law enforcement has extreme difficulty monitoring anything? Do you want the industry to send its money offshore to the Caymans or into Bitcoin banks?
Do you want to support money laundries and gangsters and sleazy offshore and Swiss banks, or do you want to support credit unions in the United States, who will put this money to work in the American economy? This is not rocket science, folks.
99
I think that Obama will do something about this truly upside-down crazy policy. Boy, won't Repubs go nuts on that one!
5
won't Repubs go nuts on that one!
And that's not chemically-induced either! Though half the things they do to the working class makes one wonder what their on when they do those KOCH patries.
And that's not chemically-induced either! Though half the things they do to the working class makes one wonder what their on when they do those KOCH patries.
If this happens, and it will, atleast make them organize as a bank and tax the income made from this mountain of cash. Why should we give a tax subsidy for this activity, make them paid tax on the income of the bank!!!
8
Not sure if you have seen the court case where at least one dispensary is saying that they will not pay state tax on the earnings because it would amount to self incrimination on the Federal law.
1
What is Matt Richtel smoking? Must not be too good, time to upgrade. Here in Illinois, not too many mountains and hippies here, they are setting up our own dispensaries. No recreational, yet, but that'll be coming too. Once the state gets a good taste of all that tax money. Do you think that they're going to carry around coin bags? And send them by Pony Express?
Really, this is a non-issue. If not now then in three months time.
Really, this is a non-issue. If not now then in three months time.
21
Guess that will at least prove that marijuana is dangerous and leads to crime. Or is that the whole point of DOJ's coy position?