Before you read the following consider that recreational use of marijuana is most prevalent among poor, low income and less educated individuals.
In other words, while many cry that the wealthy don’t pay their fair share, we have no trouble raising income on the backs of those who can least afford it through legalizing drugs and pushing lotteries.
South Beloit, Ill., faces steep bills to fund its firefighter and police pensions and repave its cracked streets. Now, Mayor Ted Rehl has a plan to help cover the shortfall: marijuana. South Beloit, less than a mile from the Wisconsin state border, will welcome its first cannabis dispensary later this year.
Recreational cannabis became legal in Illinois on Jan. 1 but remains illegal in Wisconsin. The Illinois town hopes to collect roughly $1 million a year in taxes on marijuana purchases, mostly by Wisconsinites.
“If we made that million dollars, we would be able to do streets and we would be able to put a nice amount in the retirement fund,” Mr. Rehl said.
Source: Is Your City’s Pension Fund a Little Short? Marijuana Might Help, Wall Street Journal 2-3-2020