I’m happy to announce that my friend and retired policy expert Paul Gallis, Ph.D., has joined the Board of Advisors of the Center for New Revenue. Paul’s unvarnished advice and punchy writing suggestions have helped me informally over the years. I’m delighted to have him agree to join this (still quite informal) Board.
Paul’s illustrious career is described in this Statement in the Congressional Record by Congressman John Tanner of Tennessee: https://www.gpo.gov/fdsys/pkg/CREC-2008-06-11/html/CREC-2008-06-11-pt1-PgE1200-2.htm Continue reading “Dr. Paul Gallis Joins New Revenue Board”
The decision of the Colorado Legislature in 2015 to decrease the state’s marijuana retail tax from 10 percent to 8 percent, effective mid-2017, was inexplicable. The industry needs low rates in the early days, not later.
So Gov. Hickenlooper’s call to let the effective date expire meaninglessly, and for an increase to 12 percent, is sensible, and not surprising. Here’s that story: Continue reading “Unforced tax error in Colorado”
This is Fake History: “The original sponsor of 280E, former Rep. Pete Stark (D-CA) . . . .” I see that statement that Mr. Stark sponsored 280E, for example, in Brett Stone’s newsgroup, https://groups.yahoo.com/neo/groups/mmjnews/conversations/topics/37712.
Mr. Stark now opposes 280E, which well he might, but that doesn’t make him the, or an, “original sponsor.” 280E originated in the Senate Finance Committee in 1982, when Bob Dole chaired it, as the legislative history, from the Joint Committee on Taxation Blue Book indicates: https://newtax.files.wordpress.com/2013/03/1982-blue-book.pdf. For a balanced view of 280E, see https://www.brookings.edu/blog/fixgov/2015/12/18/how-bob-dole-got-america-addicted-to-marijuana-taxes/. For a middle ground compromise, suggested by NORML, between current law and repeal, see https://newrevenue.org/2017/02/16/5139/. And it’s 280E, not 280e, not 280(e). It comes right before 280F. Continue reading “Fake History of 280E”
Colorado’s nominal tax rate of 15 percent now yields DE FACTO a historically low tax of 49 cents a gram on flowers or bud, and a steady rate of 17 cents a gram for trim or leaves. Continue reading “Colorado marijuana tax rates hit all-time low”