Claim: Marijuana tax revenues come up short- NOT True

In response to WASCOP’s claim to Legislators that Cannabis revenues come up short.

Claim: Marijuana tax revenues come up short?

Claim: Marijuana tax revenue is minimal to state educations funds?  

The Facts are here.

Check: This study was done with a microfocus, at specific real, but most strongly extrapolated data, it’s simply incorrect.

Check it Here:

Colorado Facts NOT Fiction

The study uses Colorado, one of the first legal weed states, as its lone test case. The state netted $247,368,473 in cannabis sales-tax revenue in 2017, according to official figures, part of a revenue stream that’s gone to pave streets, fund education, and—in at least one instance—build a new police station. But according to the Centennial Institute report, legalization actually cost the state four-and-a-half times that—more than $1 billion—thanks chiefly to $431,027,862 in lost productivity and $469,488,127 in health costs.

To reach those figures, researchers pulled data from official sources, like the Colorado Department of Public Health and Environment, and then did some math. Among other novel moves, to figure cannabis’ cost to productivity, an estimated number of marijuana-related expulsions and dropouts—itself dubious, reliant on multiplying total dropouts by a portion “likely” attributable to pot—was multiplied by $334,716.12, the estimated “cost of not having a high-school diploma.” (Pot users who went back to school didn’t seem to figure.)

To posit health costs, the study claimed more than 30,000 weed-related hospital admissions per year in Colorado—a figure based on a separate, peer-reviewed report, which reached a decidedly less panicked conclusion—and also cited addiction treatment, underweight babies, and other maladies as adding to a ghastly tab.

……..But dubious bits of research may be anti-drug warriors’ best lifeline in an era of fake news and questionable data points.

“These guys are the flat-earth crew,” said Michael Collins, a Washington DC-based lobbyist with the Drug Policy Alliance, one of the country’s main legalization advocacy groups. “They’re arguing about something that’s already been decided.”

Study 2018 By Centennial Institute

This “Study” done in 2018 By Centennial Institute, has been more than discredited, it has been called out by many professionals for the low quality of the data it produced. The data from this study has no actual application, as the study accounts for things as ridiculous as estimating an increased dropout rate from legalization with a cost of 1.1 Billion per year.

From Vice article:

“It was published on the university’s website, not in an academic journal. A for-hire, family-run research firm called QREM was “commissioned… to create the report,” according to an introductory letter from Jeff Hunt, a former staffer for Rick Santorum and a staunch Trump supporter who serves as Colorado Christian’s vice-president of public policy—as well as the Centennial Institute’s director. Hunt appeared to be the only person remotely connected to academia who was involved in the study.

An avowed anti-legalization activist who led an unsuccessful effort to end Denver’s annual 4/20 rally, Hunt recently appeared on Fox News to rail about the dangers of marijuana to young people. Successful as a pundit and agitator, Hunt does not appear to have academic credentials, either as a social scientist or data researcher. According to his LinkedIn, he has degrees in divinity and political management and worked in conservative politics and media before joining CCU in November 2015.

….”Guesswork + bias + arithmetic,” Kleiman said in an email by way of appraisal of the Centennial report, adding that it was not a workable “benefit-cost analysis.”