First month of marijuana tax revenue in Colorado falls well short of expectations

It appears that Colorado is falling well short of the state’s revenue projection from marijuana sales. Instead, the number from January is less than $2 million, far below estimates claimed by both the Governor and legalization advocates. Of course, just like alcohol and tobacco revenue, we know that the sales of this intoxicant will bring in far less than the costs of its use. In fact, every $1 in alcohol and tobacco revenue the state gains comes at a price of $10 in lost social costs. Already, legalization in Colorado has been characterized by children visiting hospital emergency rooms for marijuana poisonings from ‘pot cookies,’ increased marijuana use in schools, and a 40% increase in workplace and school drug tests, according to Conspire!, an independent testing company.
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