Marijuana taxes may not hit $586M predictions (KGW: Channel 8 News, Portland)

By KYLE IBOSHI | July 9, 2014

PORTLAND — Retailers in Washington State are seeing green as customers started lining up this week up to buy legal marijuana.

The state estimated it could rake in $586 million from pot taxes between 2015 and 2019. Advocates sold it as a big money maker, but some skeptics believe the state won’t make as much as they have predicted.

“It will generate some revenue. Not for very long,” said Mark Kleiman, a public policy professor at UCLA, who helped create Washington’s marijuana policy as a consultant to the state. “There are lots of good reasons to legalize cannabis but revenue isn’t one of them.”

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