All US paper money says, "LEGAL TENDER FOR ALL DEBTS PUBLIC AND PRIVATE." Now our money needs a footnote to say, "NOT VALID TO PAY US TAXES."
Colorado's booming new marijuana businesses CAN NOT PAY THEIR PAYROLL TAXES WITH PAPER MONEY. Banks will NOT allow marijuana businesses to have bank accounts, because of our draconian drug laws. The Obama administration tried to fix this, but bankers are conservative and the "fix" did not GUARANTEE that the bankers would not get arrested for breaking federal money laundering statutes.
So marijuana businesses are paying their taxes in cash, for which the IRS is CHARGING A 10% penalty, as well as another 10% penalty when the penalty is paid in cash. Without a bank account the businesses can NOT pay payroll taxes electronically as required by the IRS.
THE EASIEST WAY to FIX THIS PROBLEM is to TAKE MARIJUANA OFF SCHEDULE 1.
As you should know by now, the US defines marijuana as a Schedule 1 drug, which means that, according to the US, marijuana has NO medicinal value. The DEA has asked the FDA to review this classification, but the FDA has never, ever, been willing to even GLANCE at the multitude of research showing the medicinal benefits of marijuana. Without a drug company pushing for FDA approval, the FDA seems to just rubber stamp the propaganda lies generated by the War on Drugs.
This is an amazing TRIUMPH of PROPAGANDA OVER SCIENCE.
Monday, July 14, 2014
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