Will the government finally legalize marijuana?

[Nebuchadnezzar]

It's doubtful, but maybe they will.

This is an old article and was most likely already posted but I thought I would post it anyway.

http://www.higherperspectives.com/the-us-government-finally-admits-cannabis-kills-cancer-cells-1429984945.html

[JustWinBaby]

Oh, look, another cure for cancer. No, this time they're serious. They've finally, really cured it.

[GMDino]

(01-26-2016, 05:39 AM)JustWinBaby Wrote: Oh, look, another cure for cancer.  No, this time they're serious.   They've finally, really cured it.

You mean we haven't prayed it away yet?

That preacher better send me my money back then! 

[BmorePat87]

State by state at first. At some point, there'll be too many states for Congress to ignore not legalizing it.

[StLucieBengal]

BmorePat Wrote:State by state at first. At some point, there'll be too many states for Congress to ignore not legalizing it.

I think this is best. The Feds should also change its classification as well.

[Benton]

(01-26-2016, 10:23 AM)BmorePat87 Wrote: State by state at first. At some point, there'll be too many states for Congress to ignore not legalizing it.

Pretty much. It's still at least a decade away, but once you get a majority of states doing it, whatever state with the largest amount of industrial size growers will have enough push (lobbyist money) to get it legalized federally.

[JustWinBaby]

(01-26-2016, 01:29 PM)Benton Wrote: Pretty much. It's still at least a decade away, but once you get a majority of states doing it, whatever state with the largest amount of industrial size growers will have enough push (lobbyist money) to get it legalized federally.

Ehhh, unless the Feds decide to actually start enforcing the law, it's pretty much up to the states if they want to legalize it.

Not sure what happens if they change the classification making it no longer federally illegal.  I would assume states could still ban it, but maybe not.  Leaving the law on the books but not enforcing it pretty much allows the states to do whatever they want.

[BengalHawk62]

They are going to start noticing the amount of money coming in from the legalization of it in each state and that is going to be the deciding factor when they legalize it.  The feds will want a piece of that pie.  Hopefully its going to be in the next 5 years. 

[Benton]

(01-26-2016, 01:35 PM)JustWinBaby Wrote: Ehhh, unless the Feds decide to actually start enforcing the law, it's pretty much up to the states if they want to legalize it.

Not sure what happens if they change the classification making it no longer federally illegal.  I would assume states could still ban it, but maybe not.  Leaving the law on the books but not enforcing it pretty much allows the states to do whatever they want.

I'm curious about the federal tax aspect, mainly as it relates to business. If a business growing and selling a legal product in Colorado — but an illegal one with the federal government — how can they claim any business expenses at that level? I don't see it as any different than a meth maker writing off mileage to go pick up fertilizer and batteries, but I'm guessing the IRS wouldn't consider that a business expense.

And you're correct, at least from the lawmakers I've talked to. If declassified, it would be up to states. Since most (all?) already have some laws regarding marijuana, those laws would be in effect, just as they already are unless superseded by federal law.

[Belsnickel]

Unfortunately, Virginia's bills on the matter failed to leave the subcommittees.

[CKwi88]

Since smoking weed isn't a fundamental right, I doubt that there will ever be a Supreme Court ruling a la gay marriage or anything like that.

It'll go state by state, and I'm sure some will never legalize, but many more will once they realize the money that is to be made.

[JustWinBaby]

(01-26-2016, 02:14 PM)Benton Wrote: I'm curious about the federal tax aspect, mainly as it relates to business. If a business growing and selling a legal product in Colorado — but an illegal one with the federal government — how can they claim any business expenses at that level? 

Haha, my accounting prof actually used this example.  You can take the fifth on source of income, but can still deduct the cost of goods sold.  IRS is not legally allowed to share that information with other agencies.

From what I've seen, these companies have been extremely careful on how to comply with laws, including anti-money laundering with banking.

[Benton]

(01-26-2016, 02:40 PM)JustWinBaby Wrote: Haha, my accounting prof actually used this example.  You can take the fifth on source of income, but can still deduct the cost of goods sold.  IRS is not legally allowed to share that information with other agencies.

From what I've seen, these companies have been extremely careful on how to comply with laws, including anti-money laundering with banking.

Interesting. I didn't know that was an option. So I can quit laundering my organ harvesting business through my rental properties? Hypothetically speaking.