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Canada: Here's The Truth About The Impact Of Tax Revenue From Legalization

Submitted by Julia Wright - ... on Tue, 02/02/2016 - 09:31

There are all kind of ways legalization will greatly benefit Canadian society - one of them being the increased tax revenues which can pay for important social programs and pubic education initiatives.

But the jury's out on just how much money will be made, and the potential impact it will have. The January Economic Insights report issued by CIBC World Markets gave the straight dope on what the tax revenue from recreational marijuana could, potentially, mean for Canada. It's not necessarily a game-changer, according to economist Avery Shenfeld, who predicts a high end of $5-billion in annual tax revenue.

And even that relatively modest figure depends on a few major caveats, he says: for one, that marijuana be subject to the same high taxes as alcohol and tobacco, and (here's the big one) that the black market be eliminated or heavily curtailed. 

As the report notes, Canada has been a major...

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