Cannabis Blog

Smoke Cannabis and Enjoy Life

Category: Culture | Posted on Mon, July, 23rd 2012 by THCFinder



I-502 in Washington State gets $1.25 Million in New Donations

Category: News | Posted on Mon, July, 23rd 2012 by THCFinder

Initiative 502, the marijuana legalization initiative on the ballot in Washington State this fall will be able to buy a major TV ad campaign for the measure thanks to some $1.25 million in new donations, including a $450,000 donation from Progressive Insurance founder Peter Lewis.


The donations will buy a $1 million TV-ad blitz in August, before other campaigns saturate the airwaves, according to I-502 campaign manager Alison Holcomb.


I-502 would legalize possession and sale of up to 1 ounce of marijuana. It would impose up to a 75 percent excise tax on marijuana and cannabis-infused products at new state-licensed marijuana stores, and would allow state-regulated grow farms to operate.


Some oppose I-502 because of the excise tax.


The excise taxes imposed by I-502 would dramatically increase costs on patients, says Philip Dawdy, who is organizing opposition to the measure, but is someone who has previously fought for marijuana law reform in the state.


"I-502 made a serious miscalculation," said Dawdy. "They calculated that getting the votes of soccer moms were more important than medical-marijuana patients."


While legalization and regulation are sure to bring down the inflated prohibition-era price of marijuana, some states surrounding Washington will still have the marijuana black market in place and thriving, and those markets will get some supply from legal Washington cannabis, keeping prices artificially high. A 75% increase on top of this for taxes could indeed make marijuana even more expensive than it is now.


In which case, the black market will survive in Washington as well, as drug dealers will be able to sell marijuana cheaper, without the tax.


Others donating to the I-502 campaign include travel guru Rick Steves, who gave $250,000 and who had previously donated $100,000; and the ACLU of Washington, who gave $100,000.




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