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Dick, Mary Jane, and Sally: Marijuana sales will fund Colorado schools

Posting in Education

 

Marijuan Rally Smoker Guy Macwiz Flickr.jpg
Grassroots Campaigner: When this man lit up at a Denver marijuana rally last spring, he was part of a movement that would lead to a 28 percent tax on the newly legit drug helping to finance public education.
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Whatever you call it - marijuana, Mary Jane, pot, cannabis, hooch, hemp, reefer, dope, grass, whacky baccy, ganja, that stuff that Bob Marley was known for, or write in your own favorite below - it now goes by another name in Colorado: taxed.

Yes, the state that this week became the first ever in the U.S. to make weed legal for recreational use also implemented what you could all a Rocky Mountain high finance scheme. As the Financial Times reported, lawmakers imposed nearly 28 percent in taxes on sales of the sweet smelling stuff that makes you laugh like a kookaburra and eat like a linebacker.

The newly legit drug is thus expected to raise $67 million for the public coffers this year alone, and to net more than that as business buds.

Where will the money go? According to CNN, nearly half of it, or $27.5 million, will help build schools. 

Welcome to Educational Funding 2.0: Weeding, writing and arithmetic. Step aside Dick, Jane and Sally (if you haven't already) and make way for your replacement characters in the reading books: Dick, Mary Jane and Silly!

Photo is from Jonathan Piccolo/Macwiz via Flickr

More reefer revenue:


— By on January 3, 2014, 8:30 AM PST

Mark Halper

Contributing Editor

Mark Halper has written for TIME, Fortune, Financial Times, the UK's Independent on Sunday, Forbes, New York Times, Wired, Variety and The Guardian. He is based in Bristol, U.K. Follow him on Twitter. Disclosure