High taxes are a poison pill for social equity.
While New Yorkers hope that #cannabis legalization will roll out in NY sooner than later, we also expect that the roll out will be sensible.
Unfortunately, it seems that any hopes of an equitable rollout of this program are going to be destroyed by the short-sighted “strategy” of taxing the program to death.
Investors and well funded companies will be able to succeed in NY regardless of the taxes, however, when the price of legal cannabis is high, cannabis shoppers will just continue to get it from their non-taxed black market suppliers.
Those starting off with limited resources are gonna get crushed by the expensive operating costs and the expenses associated with acquiring/competing for customers who will be able to go to other cheaper legal or illegal competitors.
It seems that while the proposed legislation pays very nice lip service to social justice, enabling low-income applicants to “get licenses,” those very same policies also doom those operators to failure by stifling them and their customers with unnecessary and over-bearing taxes.
It’s like giving out free amusement park tickets but charging them a small fortune to go on any of the rides.
Thanks, but no thanks.
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