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Detailed text transcripts for TV channel - MSNBC - 20121202:13:12:00

Matter how high top marginal race has been in the last 50 years or 60 years. the ability of the federal government to actually collect more revenue as a share of gdp has been fairly constant. so there s this question of the political willingness. are we in this federal government like 18% or something, is this like a political equilibrium? economic. 17% to 22% of gdp. when you look at the hike. i want to talk to someone who was there at the incarnation of the side and who now says that revolution needs to be put out of its misery for lack of a better term. a reagan tax adviser, next. ....

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Detailed text transcripts for TV channel - MSNBC - 20121202:14:29:00

the thing that is key here, we are running the experiment now. we have been having this debate in the abstract. one of the things here, two things. what i find fascinating is it s as much a test of setting up a regulatory regime as a test of legalizing marijuana in prohibition. the question is, is there going to be a huge black market that is going to emerge? are you going to have is this going to spiral out of control? i think it will be. i have to say, i did not like do a hard study, but $600 million a year sounds high. 25% at the retail end. i mean, if you are talking right now, $250 to $300 is going to come down. a $25 tax? canada had to repeal a cigarette tax, $5 in taxes in the 90s. marijuana is something people ....

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Detailed text transcripts for TV channel - MSNBC - 20121202:14:20:00

I don t want my kids smoking cigarettes and we have made it illegal. i think you are right. the way it s going to happen is states are going to start innovating. it s going to put pressure. for every dollar we get in cigarette and taxes, we we have to look at that. what we have done by making it harder to smoke in public places and increasing the cost of cigarettes is we have seen a great reduction in the take up of cigarettes by young people. so we have had we have actually impacted attitudes and behaviors. the idea of the industry is nothing. the big open question is a, what is the federal government going to do. what does a marijuana facility look like? i m glad you raised that and had the doritos line. people joke about it. marijuana is funny. when we come back, president obama at a town hall when making ....

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Detailed text transcripts for TV channel - MSNBC - 20121202:14:24:00

Get $0 down, $0 due at signing, $0 deposit, and $0 first month s payment on any new volkswagen. visit vwdealer.com today. i have to say that there was one question that was voted on that ranked fairly high. that was whether legalizing marijuana would improve the economy and job creation. and i don t know what this says about the online audience but i just want i don t want people to think this was a fairly popular question. we want to make sure it was answered. the answer is no, i don t think it is a good strategy to grow our economy. president barack obama formally of the gang joking about legalizing marijuana. ....

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Detailed text transcripts for TV channel - MSNBC - 20121202:14:16:00

Marijuana is in place. they will likely build on the already existing medicinal model. not only will it be regulated in these states, but taxed. the promise of this new source of revenue is a selling point to voters. in washington, it will be a rate at 25%. it s estimated to generate a whopping $600 million a year. in colorado, it s a tenth of that. since none of this has been done before, no one knows what the estimates are. we are about to find out. joining me at the table are senior writer at newsweek and the daily beast and the author of the new pop barrens. an assistant professor at the university of florida s drug policy. all right. kevin, i guess i want to start with you on this. the big question before we get to how this is going to go is ....

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