Tax Day and 4/20 all in one week? Its like a libertarian field day! So for today's post I want to get into the nitty-gritty of taxation and cannabis reform and go into the economics of each. I think some of you may be surprised!
Are taxes theft?
Before I get into this, let me ask you: have you ever been asked if you want to pay taxes? Did you
ever sign a contract or raise your hand volunteering to pay them? Chances are the answer is no. But... we do live in a civilized society where the government provides education, roads, law, and order, so its alright, right? So... would you be willing to give ALL your money to the government if they paid your bills, gave you a standard house and government issued clothing? Well, that just seems to be crossing a line, doesn't it? Now, charities provide clothing and food and resources to people as well... but if they threatened to lock you in a room (jail) if you refused to donate it would be called: Theft.
The truth is we pay taxes on money we earn at around 22% federally and 6% at the state level here in Kentucky. Then to spend that money we pay another 6% in sales tax... but that's not all. To OWN what we have bought, we pay ANOTHER 0.85% in property tax. This is a grand total of 34.85%!! Mind you the top bracket of earners are at 37% federally, meaning their total is 49.85%!! So let me ask you, is giving half or a third of your money to the government crossing a line?
The fact is, on average you are essentially donating nearly $20,561 ($59k x 0.3485) to a charity per year against your will with the threat of going to jail if you do not. Do you really care about drug needle exchanges, military research in hypnosis, and art grants that much?
Is cannabis right for our country?
Ahh, the ole cannabis debate. The two sides that everyone sees are the hippies that say "you can't make a plant illegal man!" and the ultra-conservatives that call it "the devil's lettuce". Nobody ever really points out the economics of marijuana or hemp production, so I'm going to. First of, due to hemp's close biology to marijuana it is illegal here in the United States... that is despite the fact that it DOES NOT GET YOU HIGH. That's right, there is less than 1% THC in industrial hemp, meaning its bad news for stoners. Due to this ban though, it has allowed China to become the world largest producer of hemp at a total of 44,000 Tons of hemp per year... just another accolade we are simply handing to China. What are they doing with it? Making any product that can be made from wood, oil, or cotton. I'm serious. They can make boards, paper, cloth, oil, fuel, and lubricants from hemp (due to the various uses some believe that cannabis was a plant mentioned in the bible as being in the Garden of Eden... but that's another story).
So what does all this about hemp/marijuana mean to you? Well the short and skinny is, competition drives both innovation and lower prices. Legalizing medical marijuana wouldn't only bring relief to patients, it would encourage pharmaceutical companies to develop better drugs and offer lower products... because that is how a free market works! Additionally it would require paper, wood product, cloth, and petroleum/oil companies to lower their prices and innovate helping us to once again move to the top of the world economically. Who knew?
What can I do?
There is plenty you can do here in Kentucky. First off, register to vote! Follow the link below to ensure you are registered to vote so you can help Libertarian candidates here in Kentucky get into office:
https://elect.ky.gov/registertovote/Pages/default.aspx
Second, find out more and support local efforts! Check out these sites for local Hemp/Marijuana advocacy groups:
http://www.ky4mm.org/
https://legalizekentucky.org/
http://kyneedscare.com/
Are taxes theft?
Before I get into this, let me ask you: have you ever been asked if you want to pay taxes? Did you ever sign a contract or raise your hand volunteering to pay them? Chances are the answer is no. But... we do live in a civilized society where the government provides education, roads, law, and order, so its alright, right? So... would you be willing to give ALL your money to the government if they paid your bills, gave you a standard house and government issued clothing? Well, that just seems to be crossing a line, doesn't it? Now, charities provide clothing and food and resources to people as well... but if they threatened to lock you in a room (jail) if you refused to donate it would be called: Theft.
The truth is we pay taxes on money we earn at around 22% federally and 6% at the state level here in Kentucky. Then to spend that money we pay another 6% in sales tax... but that's not all. To OWN what we have bought, we pay ANOTHER 0.85% in property tax. This is a grand total of 34.85%!! Mind you the top bracket of earners are at 37% federally, meaning their total is 49.85%!! So let me ask you, is giving half or a third of your money to the government crossing a line?
The fact is, on average you are essentially donating nearly $20,561 ($59k x 0.3485) to a charity per year against your will with the threat of going to jail if you do not. Do you really care about drug needle exchanges, military research in hypnosis, and art grants that much?
Is cannabis right for our country?
Ahh, the ole cannabis debate. The two sides that everyone sees are the hippies that say "you can't make a plant illegal man!" and the ultra-conservatives that call it "the devil's lettuce". Nobody ever really points out the economics of marijuana or hemp production, so I'm going to. First of, due to hemp's close biology to marijuana it is illegal here in the United States... that is despite the fact that it DOES NOT GET YOU HIGH. That's right, there is less than 1% THC in industrial hemp, meaning its bad news for stoners. Due to this ban though, it has allowed China to become the world largest producer of hemp at a total of 44,000 Tons of hemp per year... just another accolade we are simply handing to China. What are they doing with it? Making any product that can be made from wood, oil, or cotton. I'm serious. They can make boards, paper, cloth, oil, fuel, and lubricants from hemp (due to the various uses some believe that cannabis was a plant mentioned in the bible as being in the Garden of Eden... but that's another story).
So what does all this about hemp/marijuana mean to you? Well the short and skinny is, competition drives both innovation and lower prices. Legalizing medical marijuana wouldn't only bring relief to patients, it would encourage pharmaceutical companies to develop better drugs and offer lower products... because that is how a free market works! Additionally it would require paper, wood product, cloth, and petroleum/oil companies to lower their prices and innovate helping us to once again move to the top of the world economically. Who knew?
What can I do?
There is plenty you can do here in Kentucky. First off, register to vote! Follow the link below to ensure you are registered to vote so you can help Libertarian candidates here in Kentucky get into office:
https://elect.ky.gov/registertovote/Pages/default.aspx
Second, find out more and support local efforts! Check out these sites for local Hemp/Marijuana advocacy groups:
http://www.ky4mm.org/
https://legalizekentucky.org/
http://kyneedscare.com/
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