California has a sometimes controversial medical marijuana industry. California growers produce 8.6-million pounds of weed annually valued at $13.8 billion. Now there's a proposal that could help California taxpayers - an excise tax on pot.
At $50 an ounce it would generate $1.4-billion in excise revenues atop the sales taxes already collected from purchasers. One can only imagine what California could take in if it decriminalized marijuana altogether and collected excise tax on all production, medicinal and recreational.