Marijuana and Money 2012 – Special Report — Will Marijuana Legislation Impact Obamas Re-Election? – CNBC

Marijuana and Money 2012 – Special Report — Will Marijuana Legislation Impact Obamas Re-Election? – CNBC.

 By: Brian A. Shactman CNBC Reporter

Published: Thursday, 23 Aug 2012 | 11:59 AM ET

Pot and politics. You might not think they go together, but they mix like peanut butter and chocolate — especially if you have the munchies.

Yes to 64
Justin Solomon for CNBC.com

But in all seriousness, November isn’t just aPresidential Election — three states are voting to fully legalize marijuana. That’s right. Not medical marijuana or decriminalizing it. Full legalization could be a reality in Colorado, Oregon and Washington State.

Some experts say that Colorado stands the best chance of passage. Already, it has a well regulated medical marijuana program, and the vote on what is called “Amendment 64″ could go either way.

“A million Coloradans are going to tell the federal government clearly — without any confusion — what we are voting for: That anyone over the age of 21 has access to decide what they want with marijuana,” said Wanda James who owns “Simply Pure”, a business that made, packaged and sold edible marijuana products. She recently suspended operations because Wells Fargo [WFC  33.92    -0.26  (-0.76%)   ] would no longer bank with her.

 

Even still, she is undeterred and said, she’ll bring it back if the pro-pot vote wins. “The minute that I know Amendment 64 passes — and I’m fighting for that — we will bring ‘Simply Pure’ back as its own legal retail place for anyone over the age of 21.”

John Suthers, Colorado’s State Attorney General, is one of the more outspoken opponents not only of the amendment but also of medical marijuana.

“What we have in Colorado is a sham,” he told CNBC. “Very few people have medical conditions.
“It’s not going to be helped legalizing on a state level. It needs to be addressed on federal level.”

The issues could set up a State vs. Federal debate similar to President Obama’s health care bill, which made it all the way to the Supreme Court. (Related Link: Obamacare’s Insurance Rule Is Uphelp by Supreme Court.)

 

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