Bureaucrats are high with excitement after a new report from CIBC World Markets indicated that the sale of legal marijuana would generate a great sum of money for government coffers.
Federal and provincial governments could make as much as $5 billion annually in tax revenues.
CIBC economists crunched the numbers using statistics on Canadian recreational pot consumption, information from states where pot is legalized, and current tax rates on alcohol and tobacco.
Prime Minister Justin Trudeau has publicly stated that the government is not legalizing marijuana for tax purposes, and will funnel all revenue in to public health and addiction issues.
Will you stop growing your own pot or cut ties with your “guy” to buy marijuana from a government connected retailer?
Listen live on AM640, online at: player.640toronto.com, or download the AM640 app from the Apple App Store or Google Play.