New Leaf Ventures Inc. (NLVVF)

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History Could Soon Repeat Itself for the First Time in Nearly 100 Years
Thanks to COVID-19, America’s mental, emotional, and economic health has plummeted. Prior to the pandemic, the federal deficit sat at $1.1 trillion. However, after the coronavirus stimulus and aid, the deficit has been raised to an astounding $3.7 trillion[xxvi]. That puts this year’s federal budget shortfall equal to the sum of all federal budget shortfalls and surpluses from 1901 through 2003[xxvii].

Simply put, this country has a long climb ahead out of an economic quagmire at federal, state, and local levels. Governments everywhere will be seeking new sources of revenue.

With Washington collecting $390 million with their 37% excise tax, and states like California and Colorado pocketing $390 million and $251 million respectively in excise taxes in 2019[xxviii], more states are now salivating at the potential of scoring excise revenues too.

Since state legalization, states like Washington, Colorado, and California have been challenging the federal government to rule that marijuana use is not a criminal offense.

Their actions mirror the days of alcohol prohibition when there were criminal penalties for satisfying the population’s unquenchable thirst for booze. When alcohol prohibition was passed during the “Roaring 20s” the economy was flourishing and prosperous.