YNOT – Adam & Eve founder and President Philip K. Harvey is a man of convictions, and he’s not particularly reticent to share those convictions with the public, usually with a large dose of common sense attached.He’s also not afraid to put his considerable financial resources where his mouth is.
Among Harvey’s current convictions is that criminalizing marijuana possession and use is, well, criminal. According to public records, to date Harvey is the largest individual donor to the Drug Policy Action Committee to Tax and Regulate Marijuana. Fundraising records indicate Harvey has donated $100,000 to the cause.
The committee’s big focus currently is California, where voters who go to the polls in November will be asked to vote “yes” or “no” on a proposition that seeks to legalize marijuana use and to allow individuals to grow the forbidden herb in their gardens. If the measure passes, the state would regulate and tax the drug as it already does other “controlled substances” like cigarettes and alcohol. Proponents of the bill say the revenue to be gained from taxing marijuana would go a long way toward helping California fatten up its anemic coffers.
The state was among the first to allow medicinal use of marijuana and the legal, regulated operation of retail outlets and cooperatives that offer the herb in a variety of forms.
Although passage of Proposition 18 would mean pot users in the Golden State could breathe easier—they hardly choke now, as possession of small amounts of marijuana even without a prescription generally results in little more than a misdemeanor on a par with a traffic ticket—licensed growers and dispensaries may realize anything but a boon from an open-door policy on pot.
According to an article in Portfolio magazine, “Legalizing pot in California would cut the price by as much as 80 percent and may double consumption…. The cost of high-quality marijuana may drop to as low $38 an ounce from about $375 today, researchers estimate after analyzing production costs and current pricing.”
In addition, not everyone is certain legalizing the herb would boost California’s budget. The Rand Corp. predicted weed-related tax revenues may fall much lower than the $1 billion a year state officials project.
