Yeah. I heard that same thing. Colorado gave taxpayers a refund from the Weed tax last year, because it reached the cap.
It makes me nervous when taxes keep piling up on legal Cannabis businesses. If it gets too steep it puts legal growers out of business and illegal growers in business.
As prices drop it’s already becoming a big concern that the industry will consolidate into a couple large producers that grow in quantity in order to make a profit. Walmart Weed. That’s not good. I’d like to see the quality and competition that smaller companies provide.
Tobacco has been taxed more and more too. At some point I feel sorry for those poor saps who are addicted to tobacco, and paying $12+ per day ($8 of it taxes). It’s really absurd that we allow a drug that’s as addictive as heroin and causes 480,000 deaths annually. Politicians think that by increasing tobacco taxes it will reduce the number of smokers, and at the same time create a revenue “Sin Tax” that fills the holes in government spending. Every year they increase the tax rate a little more. The government is more and more resembling a heroin dealer doling out heroin to junkies. Sucking them dry.
Meanwhile Cannabis remains federally illegal. Crazy. Cannabis will end up taxed just like tobacco if we let it.