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Predicted $106 Billion in Tax & 1 Million Jobs From Legalized Cannabis

Predicted Tax Jobs From Legalized Cannabis Weed Recommend

A possible one hundred and six billion dollars of new tax revenue could be generated as well as  one million new jobs created by 2025 if cannabis is legalized across all 50 states of America, That’s according to new data published in New Frontier’s latest research paper on the issue, which you can get here https://newfrontierdata.com/product/us-economy-2018/

“Under the new business tax rate of 21 percent, the Trump tax cuts will come as welcome relief to cannabis business owners who already face tax hurdles because of 280E. Lower tax rates may provide cannabis business owners greater capacity to grow and create more jobs. New Frontier Data projects increased domestic and international expansion of new legal cannabis markets and $106 billion in tax revenue over an eight-year period in the U.S.,” said New Frontier Data CEO Giadha Aguirre De Carcer.

This report examines three aspects of what full legalization would look like in contrast to the current, state-by-state patchwork of legalized environments, and the anticipated impacts which full nationwide legalization would hold for the U.S. Treasury.

  • If full legalization occurred in all 50 states today, there would be an excess of 654,000 jobs, and would increase to 1 million jobs by 2025.
  • Full legalization would result in more legal businesses entering the market, more consumers participating in the legal market, and more employees on official payrolls, resulting in $3.3 billion in payroll taxes. By 2025, payroll deductions would increase to $5.3 billion.
  • Assuming a sales tax at the federal level was implemented at 15%, the total tax revenues from 2017–2025 would theoretically be $46 billion. This amount of revenue would be entirely new revenue to the U.S. Treasury, as there are currently no federal sales or excise taxes.
  • By combining the business tax revenues, the payroll withholdings based on the theoretical employment required to support the industry, and the 15% retail sales tax, one can calculate the total federal tax revenue potential of legalization: The combined total is estimated to be $105.6 billion.
  • The difference between the current structure and the theoretical model is a $61.6 billion increase in federal tax revenues.

About New Frontier Data:
New Frontier Data provides objective, rigorous and comprehensive analysis and reporting for the nascent and under served cannabis industry worldwide. New Frontier Data’s analytics and reports have been cited in over 65 countries around the world to inform industry leaders. New Frontier Data, the premiere and only Big Data shop in the sector looks beyond the plant cultivation and distribution, to raise the industry bar and improve visibility into what will inevitably soon be a mature and more complex global market. Founded in 2014, New Frontier Data is headquartered in Washington, D.C. and has additional offices in Denver, Colorado.

New Frontier Data does not take a position on the merits of cannabis legalization. Rather, its mission and mandate are to inform cannabis-related policy and business decisions through rigorous, issue-neutral and comprehensive analysis of the legal cannabis industry. For more information about New Frontier Data please visit: www.newfrontierdata.com.

Source

New Frontier Data’s Executive VP of Industry Analytics, John Kagia and California Cannabis Cultivator, Swami Chaitanya talk legalization of cannabis in California on BBC World News.

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Cannabis Is Curing My Cancer & Now I Want It Legalised

“Joy Smith was diagnosed in July 2016 with ovarian cancer. In August 2017 she was given six weeks to live after it was discovered that the cancer has spread to her stomach and bowel. But now she’s in remission and claims cannabis oil cured her terminal disease. Research Consultant Matthew Atha explains why the research into cannabis oil has been so limited.”

Broadcast on 13/03/2018

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Colombia Gold: Cannabis Politics, Valhalla & Fair Trade

Video playlist below

“Cannabis News Network traveled down to Colombia for an exclusive 3 part report on the state of medical cannabis in Colombia: Colombia Gold. This is part 1 on cannabis politics.

Colombia is perhaps best known among most people for the failed War on Drugs, thanks to Netflix’ internationally acclaimed ‘Narcos’ which debuted in 2015. Whereas the whole world was introduced to the horrors of a failed War on Drugs in the beautiful country of Colombia, the country itself wants to move on from a war that got 220.000 people killed, millions of people homeless and billions of dollars wasted.

Legislation in 2012 had already decriminalized private use, possession of up to 20 grams and 20 plants for personal use. 3 years later in 2015, Colombian President Juan Manuel Santos legalized medical cannabis. The Nobel Peace Prize winner of 2016, announced in a nationally televised address he signed legislation, allowing licenses to be granted for the possession of seeds, cannabis plants and cannabis.

We’re now two years further and Cannabis News Network traveled down to Colombia for an exclusive report on the state of medical cannabis in Colombia: Colombia Gold.

The three part series called Colombia Gold, features a wide variety of experts including Martin Jelsma (Transnational Institute), Andrés López (Director National Narcotics Control), Ricardo Vargas (Director de Acción Andina Colombia), Diana Paola Valenzuela (Institute of Studies for Development and Peace), Julian Caicedo (Anandamida Gardens) and more.

We take a look at the politics of cannabis, medical cannabis licenses and fair trade cannabis. Especially the latter two are dubious, as the first license was handed to a privately owned Canadian medical cannabis company, Khiron. The licenses granted also allow companies to export legal medicinal cannabis. Quite a change looking at recent history”

 

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Digital Currency Looks to Solve Cannabis Industry’s Cash Problem

Originally posted on CoinTelegraph.com

Digital currencies may solve some the legal cannabis industry’s woes by becoming an alternative to cash payments. Despite recent state-level ballot initiatives across the US that legalizes marijuana in one form or another, the drug still remains illegal at the federal level. While it’s unlikely the feds are going to go after legal cannabis dispensaries any time soon, the legal murkiness does create one serious problem.

Cash-only

Banks won’t deal with cannabis dispensaries.

Consider the ramifications. No banking means no payment processing, which means customers can’t use credit or debit cards to make purchases. According to a 2016 survey, 75 percent of customers prefer to pay with credit or debit cards, with only 11 percent preferring to pay with cash.

Unfortunately, dispensaries can’t give customers what they want – payment methods other than cash – because banks won’t do business with them. Consequently, the customer is inconvenienced and the merchant loses potential sales.

A lack of banking causes even more serious problems. Since the industry is forced to accept only cash for payments, marijuana dispensaries are an excellent target for robbers and thieves due to the large amount of cash they keep on premises.

There’s still a larger problem than that, which is perhaps the biggest of all: dispensaries have great difficulty paying their expenses. Utilities, tax assessors and vendors would much rather not be paid in cash, and some vendors may not even accept cash payments.

The cost of protecting large sums of cash is prohibitive. The need for armored cars, safes and guards depletes the bottom line. It’s been estimated that cash handling expenses can amount to 10-15 percent of sales.

Changes are coming

Seeing an opportunity to gain access to a $6.7 bln market, the digital currency Dash partnered with Alt Thirty Six in April 2017. The Dash network, through its decentralized self-funding mechanism, is paying the company $496,000 to integrate Dash as a payment option in the cannabis industry’s point of sale (POS) systems. The vendor also has skin in the game, having spent nearly $700,000 of their own money developing the POS platform.

As part of this arrangement, Dash will be the only digital currency offered by the point of sale platform. According to the budget proposal submitted to the Dash network:

“We have three major verticals identified and solidified reseller partnerships that will adopt the Alt Thirty Six + Dash payment solutions:

  • Independent Software Vendors (ISV) – Music & celebrity apparel company (100+ online stores), online marketing automation partner (600+ clients), and more.
  • Value Added Reseller (VAR) –IBM, Sirius Computer Solutions, Industry Specific point-of-sale (POS) Partners
  • Ecommerce Retailers – Sirius Computer Solutions​”

The vendor has been making monthly progress reports to the Dash community and work continues apace. The platform’s initial release is scheduled for December of this year.

Going mainstream

The road to mainstream adoption of digital currency has to begin somewhere, and perhaps no other industry needs cryptocurrency as much as this one. Many have suggested that digital currencies could gain adoption by saving vendors money on credit card fees, and this is certainly possible. But such fees usually amount to no more than three percent.

With the legal marijuana industry, Dash has the potential to save merchants up to 15 percent, which would be a massive boon to their bottom line. Dash is suitable for point of sale use because of its InstantSend feature. Transactions sent via InstantSend are fully confirmed and irreversible in four seconds. Bitcoin transactions, by comparison, usually aren’t considered fully “settled” until six confirmations are received, which can take an hour or more.

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Cannabis in India: India’s Holy Men

“I think people need to be educated to the fact that cannabis is not a drug. Cannabis is an herb and a flower. God put it here. If He put it here and He wants it to grow, what gives the government the right to say that God is wrong?” (Willie Nelson / Musician, Writer, Actor, Activist)

The Cannabis News Network’s journey leads to a remote cave, far away from daily life. Here they meet their Sadhu, or Baba.
A GODLY place!

A quest, to seek out why cannabis is considered a sacred plant and how it has been used, spiritually and medicinally.

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Uruguay to sell cannabis in pharmacies from July

Uruguay will begin selling cannabis in pharmacies from July, the final stage in the country’s pioneering regularisation of the drug.

The South American country will be the first in the world to legally sell the drug over the counter for recreational use.

The move was set in motion in 2013 with a law that fully legalised the cannabis trade.

However, it has been a slow process to put the law into practice.

“Cannabis will be dispensed in pharmacies starting in the month of July,” presidential aide Juan Andres Roballo told a press conference.

The law requires buyers to sign up to a national registry, which Mr Roballo said would be up and running by 2 May. The price will be US$1.30 (£1) per gram.

Registrants – who must be Uruguayan citizens or permanent residents – can purchase up to a maximum of 40 grams (1.4 ounces) per month.

The marijuana sold will come from state-supervised fields.

The law also allows users to grow their own at home, or join cooperative clubs that farm it.

Read More BBC News

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Irish Mother’s Passionate Rally Cry For Access To Cannabis For Her Daughter

We previously posted some videos on Irish Mother Vera Twomey’s campaign to get access to whole cannabis plant medicine for her daughter Ava – A Mother On A Mission – Cannabis Revolution For Ireland?

Ava suffers from a rare form of epilepsy called Dravet Syndrome which causes her severe seizures. Cannabis has shown to reduce and even completely stop seizures in people. Ava is on CBD oil which has massively reduced her seizures but hasn’t completely eradicated them. CBD is legal in Ireland but Ava needs a whole cannabis plant medicine, which is the full spectrum of cannabinoids – including THC.

In this video, Published on Apr 8, 2017 by communities against water charges  on Youtube sees Vera passionately address the large crowd gathered to protest water charges in Ireland’s capitol city, Dublin. Vera makes a very interesting point by asking why should she and her daughter facilitate the government by leaving the country to gain access to cannabis where it is legal to do so. A question that every family could ask when in a similar situation, especially when they know cannabis can alleviate problems and save lives. Cannabis has been shown to help with thousands of diseases and ailments but governments continue to deny it to citizens who need it most, which is unfortunately to the advantage of the big pharmaceutical companies. Please find out what is going on locally and get involved wherever you are in the world, we need to end the madness of cannabis prohibition….

“On a beautiful sunny day in Dublin, Vera once again made the trek from Cork to Dublin to speak to the crowd about her struggle to get her daughter Ava who is 7 years, old medicinal cannabis to control her seizures from a rare form of epilepsy called Dravits Syndrome. Make it medicine, Make it Happen!”

You Can keep up to date with Vera’s campaign for her daughter here Hope For Ava

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Kenya: Bhang is God’s plant, can cure 6,000 diseases, petitioner tells senators

A petitioner seeking legalisation of marijuana, popularly known as bhang, says the plant can cure up to 6,077 medical conditions.

Ogot Gwada presented his petition to the Senate Health committee on Thursday.

Gwada said marijuana has not only huge medicinal benefits but also massive industrial use.

It is time Kenya decriminalised the plant and reviewed its categorisation, he said, adding the system that banned marijuana is “old and outdated”.

“The age of legal cannabis is with us…it is time-based, cyclic and coincides with the age of light and knowledge,” said the petitioner.

“Cannabis is God’s plant…a gift to mankind…just like the many minerals he has in store for Kenya. No one can stop this.”

Read more Here
Apr. 06, 2017, 3:00 pm
By GIDEON KETER for thestar.co.ke

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Legislators Trying to Make California State A Cannabis Sanctuary

California is trying to become the first marijuana sanctuary state in the country. Cenk Uygur and Ana Kasparian, the hosts of The Young Turks, explain.

“California legislators have taken a page from laws establishing sanctuary cities for immigrants to create a measure aimed at protecting marijuana from a federal crackdown.

Similar to laws shielding undocumented immigrants, the recently introduced Assembly Bill 1578 would bar cooperation by police in the state with federal authorities seeking to bust marijuana growers and sellers operating legally under California law.

The proposed legislation would prohibit state and local agencies — unless served with a court order — from using local money, facilities or personnel to assist a federal agency to “investigate, detain, report, or arrest” any person for commercial or noncommercial marijuana or medical cannabis activity that is authorized by law in the State of California — and transferring an individual to federal law enforcement authorities for purposes of marijuana enforcement.”

Read more Here