The Pardu

The Pardu
Watchful eyes and ears feed the brain, thus nourishing the brain cells.

Sunday, February 16, 2014

Marijuana Legalization: Banks, Taxes, and Higher Prices (for the Heads)

US banks to work with Pot "sellers."  If the sale of legal marijuana has the prospects of tax revenues as stated by Back Tax Help Dot Com (in October 2012), is there any doubt pot sales will become legal commerce in the majority of US States. 

The decriminalization and legalization of Marijuana use is desirable commerce no doubt.  However, with legalization (in some form in as many as 20 states), will bring drawbacks for people interested in legal pot use.

Higher prices, is without questions the top heart-burn. Following in a very close second place and as a matter of sequence, corporations moving in the pot business. It is inevitable!

In March 2013 The Seattle PI published a piece that offers insight and projections of medicinal Marijuana sales. 

Medical marijuana sales could hit $1.5 billion this year, trade magazine says


Sales after 2013 include estimates for medical and recreational marijuana sales in Colorado, Washington and other states that might pass such legislation. (Courtesy of Medical Marijuana Business Daily)
The marijuana trade magazine Medical Marijuana Business Daily reports today that by its estimations, the medical marijuana industry should see $1.5 billion in sales this year.
Read more linked above 

US regulators are busily moving pot legalization into the mainstream. US bank involvement in the trade is probably unavoidable, but comes with serious questions. We will not speculate about at this point; we prefer to watch with wide eyes to see if pot sales is assimilated along the same lines as post prohibition alcohol. Our curiosity about regulation will get a real test when the GOP again takes over as the party guiding administration of the nation.

We wager, pot sales will break the mold of GOP Ideology and practice: "Free Markets; No Regulation."  


US banks allowed to handle accounts of pot dealers (via AFP)
US regulators on Friday told banks they can allow marijuana dealers to open accounts, as states around the country begin to legalize the drug for medical and in some cases even recreational use. Wary of being caught up in "drug money" crimes, banks…

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