SacBee on the Sacramento budget:
The City has been looking to pot as a major new source of revenue, and it’s starting to pay off. Taxes from medical marijuana dispensaries are expected to be $4.5 million next fiscal year, said the city’s new weed boss Joe Devlin.They are "head"ed for bankruptcy. Those kinds of pension costs are not sustainable.
Sacramento also plans on licensing cannabis manufacturing, growing and delivery businesses in the next few years, with each of those areas expected to bring in their own millions. Though the city is struggling to come up with solid projections because the marijuana industry in nascent and full of unknowns, Devlin said it could bring in upward of $15 million annually in tax revenue once all its branches are up and budding.
That’s good news for the city because it owes that and more to the pension system.
Over the next five years, the city expects its pension costs to nearly double from about $67 million to $129 million.
20 comments:
$14 Billion in asset forfeitures...there's a reason Marijuana is still a schedule one drug.
It's going to be interesting to see who comes out in favor of "State's Rights" on this issue.
Tax money for the general fund or $14B for the cops and prosecutors.
I guy I know picked up a 41 foot cabin cruiser for $2000 at a sheriff's sale in Michigan on a 38 degree rainy day last fall. Shrink wrap is off and next Tuesday it's back into the water. So far he's spent an additional $3000 getting the boat, what's the word "ship shape"? He doesn't know if he wants to keep it for himself or fix it up and sell it. Maybe previous owner was a druggie, sheriff wouldn't say. The lawman did say that he wouldn't take anything less than $2000 when my buddy first bid $1000 for it. The bidder then said OK, $2000.
Should be quite an adventure.
He should sell it before the original owner comes around wanting it back.
Modern cannabis is a hard drug. As a resident of the Emerald Triangle, I see the lives and minds thrown-away on pot. Like taxing the top wage earners in California, legalizing then taxing pot will work in the short term but destroy the tax base in California in the long term. All the decent people will move to a non-narco state. The remaining tax base will be stupider and less motivated because of pot use, and thus less of a tax base. Then again, tax revenues are up, up, UP! so I'm just a chicken-little.
How much would a boat like that, as is, cost? Normally?
Why are pension costs so high?
Why did Trump tell all that stuff to the Russians? ?
Good Morning!
"Why are pension costs so high?"
Politicians buying votes with no responsibility for the outcome. They are long gone when the S hits the fan.
Liz, When he finds out, he'll probably tell me. Right now his answer is just "big money".
Dawg, you must not think the Ts latest foray with the Russians is a good thiing???
I tell you the man scares me, nay terrifies me.
Trump sharing critical information with people who share common goals in fighting terrorism is brilliant statesmanship. Think of all the great consequences. The Russians think they can deal with the US. Trump can claim humanitarian motives. The resistance is making fools of themselves. The world is safer as the information applied to civilian attacks.
Has he checked for any secret stashes?
True dat
Speaking of Gov. Moonbeam, perhaps all of that fear about the bad effects of LSD back in the 1960s turned out to be correct?
The certitude of a Jesuit.
The morals of a liberal.
I bet that Liz disagrees.
These guys are high if they think commercial marijuana will still bring in millions of dollars per acre once every high school kid is growing it in his backyard.
You win a cigar! Or... a spliff or something.
New post.
http://www.science20.com/news_staff/solar_plus_batteries_will_at_least_double_the_cost_for_electricity-225083
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