HIPPIES!
What does it take to persuade a progressive to cut tax rates? Answer: Make sure the tax cut applies to the “cannabis industry.”
Oh man:
as Democrats in Sacramento are discovering that high tax rates on hooch harm the legal version of their favorite recreational drug. Art Laffer must be on a high.
Marijuana is subject to a 7.75% state sales tax, 15% state excise tax and various local taxes, which have been increasing as cities try to plug budget holes. The 15% excise tax is set to rise to 19% in July, which has pot businesses begging Sacramento for tax relief.
Our dude Mr. Haney is "a Bernie Sanders acolyte who is proposing to suspend the tax increase to save what he calls California’s 'dying' cannabis industry."
"It will be fun to watch the progress of Mr. Haney’s bill through the Legislature as he seeks to explain why marijuana deserves a tax break but no one else does."
The universe has an incredible sense of humor.
non-paywalled: https://archive.md/OFlVC