> If you create a big series of regulations and taxes around drugs - then there will still be a huge secondary, black market. this point is under appreciated.

> If you create a big series of regulations and taxes around drugs - then there will still be a huge secondary, black market. this point is under appreciated. i see new taxes and regulations spring up on legalized cannabis in California. and, just like with the high taxes on a pack of tobacco cigarettes, some of the market goes underground. (except, with cannabis, it hasn't had time to fully emerge from the underground in the first place!)