Wisconsin May Soon Legalize Pot, Before Illinois
Illinois looks like it could losing out on a lot of tax revenue, as it appears that Wisconsin could legalize marijuana sales first.
Don’t know about you, but after Illinois politicians decided to thrust a 32% income tax rate hike on its citizens, Wisconsin is looking better all the time, and now our neighbors to the north could be rolling in the dough, as a result of taxes generated from legalized sales of pot for medical use and recreational use if a Wisconsin lawmaker gets his way.
When the income tax went up, the number one comment from individuals on social media was why can’t Illinois do the same thing, and legalize pot and grab the tax money generated from sales, instead of raising taxes?
On Thursday, Wisconsin State Rep Melissa Sargent (D-Madison) introduced a bill to legalize marijuana, a measure that she says could “jump start the economy and create new jobs.”
Why marijuana? Look at these numbers from Colorado, who was one of the first states to enact a law legalizing recreational use of pot that resulted in:
- $2.4 billion in economic activity
- 18,000 new jobs in a single year alone
Now, nothing is for certain, but you can bet your bottom tax dollar, that if pot is legalized in Wisconsin, many Illinoisans will be crossing the border into Wisconsin to get their share, contributing to the Wisconsin tax base.
Chime in with your thought: Should Illinois do the same?