How much tax revenue can states raise on legal cannabis before driving users into the illegal market? |
States that have legalized cannabis for adult recreational use now collect billions of dollars in taxes, but evidence shows that the higher the tax rates the more market share remains in the legacy, illegal market.
Conversely, initial research reveals that low tax rates can allow states to make additional headway in reducing the illicit market beyond the extent that can otherwise be expected post-legalization.
Demand for legal cannabis products is elastic, in other words, so states must consider this fact when setting tax rates. |
Commission wants derided 35-year-old 100 East building on National Register |
A small group of enthusiasts would like to put Milwaukee at the forefront of historical preservation of postmodern architecture. Or at least help a downtown developer get a tax break.
Milwaukee Historic Preservation Commission earlier this week signed on to the nomination of the 35-year-old 100 East building, sometimes known as the Faison Building, for inclusion in the National Register of Historic Places.
100 East Propco LLC, an investor development group including Klein Development Inc. and John Vasallo, is requesting historic preservation status to secure up to 40% federal and state tax credits on the expense of converting the office building it bought for $28.75 million into apartments.
The process is notoriously tough. The project needs approval of the State Historic Preservation Officer and the National Park Service.
Maybe the toughest part of the process is trying to figure out just exactly what makes a building historic. |
Electricity demand is growing; citizen demands should, too |
Life in Wisconsin, we’re informed, is going to be a lot more electric in the years ahead. It would be nice if we weren’t also about to run short of electricity. Take, for instance, the buzzy, bright growth prospect for which ground was just broken in Mount Pleasant: Microsoft’s planned data center.
Wisconsinites weary of the phrase “rust belt” can pin some hopes to the growth that could come from the industry made up of the giant blank-walled boxes that house the internet. There already are quite a few data centers in Wisconsin, but what Microsoft is building near Racine stands out, not least for the promise it’ll deal with artificial intelligence. It means lots of jobs, growth and good news.
It also means a lot more electricity being used. Data centers chug the stuff like undergrads drink beer, and the advent of artificial intelligence — which uses, we’re told, about 10 times the electricity as conventional searches — makes power demand soar. |
Wisconsin’s tourism industry, which just had a record-setting year, is a major source of jobs, though its impact varies from one community to the next.
Tourism generated over $25 billion in economic activity and supported 178,000 jobs statewide in 2023, according to figures collected by The Wisconsin Department of Tourism. The industry is credited by the agency as resulting in more than $1.6 billion in state and local tax revenue. |
Badger Institute’s Annual Dinner is set for Tuesday, October 1, 2024 — at the Wisconsin Club in Milwaukee, WI. The Institute is honored to welcome Rich Lowry, editor-in-chief of National Review, as the keynote speaker.
Registration information coming soon! Email Angela Smith for sponsorship opportunities. |
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Weekly survey: Which of the following is Wisconsin’s best tourist destination? |
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Calvin Coolidge, 30th President of the United States, was born July 4, 1872 in Plymouth Notch, Vermont. |
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The Badger Institute, formerly known as the Wisconsin Policy Research Institute (WPRI), has long been at the forefront of the fight for school choice, right to work, welfare reform, tax restructuring, limited government, civil society and so much more. If you appreciate the Institute’s legacy and want to support free markets, opportunity and prosperity, please consider donating today. Your support will help the Institute continue to advocate for conservative principles now and in generations to come.
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