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DP on HOW CONGRESS IS HELPING CRIMINALS


According to Derek Peterson, CEO of Terra Tech Corp (OTC: TRTC), the unfair tax burden on marijuana businesses is simply being passed on to the customer in the form of higher prices. "The tax burden can make it difficult for the legal market to undercut the black market’s prices, which is what you’re seeing a lot of in Washington State especially," he told Benzinga.

"An important reason to legalize cannabis is to put an end to the violent black market, which can only be fully achieved if the legal market delivers a better price than the black market," said Peterson.

In this sense, Congress’ unwillingness to modify 280E is making it easier for black market marijuana dealers to compete against legal marijuana businesses.

Read more: http://www.benzinga.com/general/education/14/11/5001192/is-congress-keeping-black-market-marijuana-dealers-in-business#ixzz3ItODOSiZ