Black Markets are often a severe drag on state economic planning. The products and services gain an unfair advantage because the activity goes untaxed and unregulated in the manner that other state commerce is subjected to.
Rep. Eric Proctor rarely supports new tax proposals. there have been a couple recent exceptions. One is an overhaul of the oil production tax. Proctor wants to change the multi-tier system.
The other is a Colorado model, regarding marijuana. the millions of Oklahoma dollars that go untaxed and leave the state, is a problem that suppresses the overall state economy. It also leads to various other crime problems because those involved are vulnerable to exploitation by organized crime.
Colorado largely remedied the black market's depletion of the state economy when they adjusted their public policy to allow small amounts of personal possession of the marijuana plant. It is taxed and regulated in much the same way that Oklahoma regulates the liquor distribution system.
“I think [this] would be substantial, because there are hundreds of Oklahoma families right now that are going to Colorado and paying a much higher tax than our bill would have allowed for in Oklahoma,” Proctor said.
Read the full report at the Oklahoma Gazette...