Election Day is three weeks away, and I have only seen two California gubernatorial candidate yard signs. It seems that Meg Whitman and Jerry Brown are uninspiring and cheap.
Whitman or Brown it's like choosing between Matt Leinart and Derek Anderson. The most populous state in America yielded no better candidates?
Maybe the job is currently so undesirable that they are the only people who are willing to accept it.
Proposition 19, which would legalize recreational use of marijuana in California and allow cash-strapped cities to raise funds by taxing it, is outpolling both gubernatorial candidates.
A study by the Cato Institute found that turning marijuana into a regulated commodity would generate $8.7 billion in revenue.
Worried that legalized marijuana will cut into beer and liquor sales, the alcohol industry has been contributing to the "No on Prop 19" campaign.
I expect Prop 19 to pass, but feel that legalizing and taxing marijuana plays out better in theory than in practice.
At this time, under-the-table transactions are the status quo. How do you implement and collect taxes on undocumented sales? Because they will surely continue. iTunes has not curbed piracy. State law enforcement may continue busting people, only not for possession, but for tax evasion.
Moreover, I assume that cities will tax marijuana differently, in which case some cash-strapped cities may not stand to benefit if their residents opt to purchase marijuana in other cities with lower taxes.
Will online sales be taxed?
Legalizing marijuana in California would still violate federal law. The federal government could and probably will challenge the decision, and the DEA could still arrest and prosecute people if it cared to.
Shades of the American Revolution…