Colorado's budget is a $27 Billion per year. Marijuana taxes fund 0.26% percent of the budget. "Big new revenue source" is plainly not an argument for legalization.
Sure: California recently increased it's sales tax by 1%. Sales Taxes are 30% of the California budget, so that equates to a 3% change in revenue. That's more than 10X the revenue generation of Marijuana Taxes.
> Sure: California recently increased it's sales tax by 1%.
Presumably, you are referring to the 1% temporary 2009-2011 boost during the budget crisis, from 6.25% to 7.25%
> Sales Taxes are 30% of the California budget, so that equates to a 3% change in revenue.
All other things being equal, assuming 30% of the budget is sales tax before the increase, a 6.25% to 7.25% increase in sales taxes is closer to a 5% overall increase in revenue.
>California recently increased it's sales tax by 1%
If by "recently" you mean 2009, then yes. However that went back down in 2011. CA State sales taxes have been within ± 0.5% of 7.75% since 1991 (aside from a 1 year dip to 7%) [1].
