By Steve Elliott
Due to the onerous nature of Washington state's regulations on the legal marijuana industry, including an overbearing tax scheme, the legal marijuana stores which have opened as the badly written I-502 is implemented are reportedly having trouble turning a profit -- even at $30 a gram.
Despite brining in more than $440,000 in sales since July, Station 420 in Union Gap is still in the red financially, according to owner Adam Markus, reports Mike Fault at the Yakima Herald-Republic.
"We have yet to make a profit here," Markus said. "And there are a lot of other people who got into this just thinking they were going to be millionaires in a year, and now they're having a hard time."
Washington state had $15.6 million in marijuana sales in November, more than double the figures from August, and pot shop owners say prices have come down by as much as half since July as supplies have increased.
But then there's the pesky fact that the prices of legal weed are still roughly double to triple those on the black market. Consumers aren't morons, and if the "guy you know down the street" is selling righteous pot for $10 a gram (a typical price both on the street and in the medical marijuana community), who wants to pay $30 a gram for the "privilege" of buying the stuff in a legal store?