Marijuana will be legalized in California next year, but prices may skyrocket. Local governments are adding taxes for sellers and growers that could result in a 70% increase in the price of a small bag of good-quality marijuana. Greg Zeman, Associate Editor at Cannabis Now joins Cheddar to discuss the impacts of weed taxes. The new cannabis industry in the state has a projected value of $7 billion with the potential to collect $1 billion per year in tax revenue. However, industry leaders in California claim that the high taxes give illicit vendors the upper hand. Zeman says the price of cannabis is already insanely inflated, and with this new tax everyone will end up making a sacrifice when it comes to the price of the drug. However, some towns will create a fund where these taxes will be allocated to help schools and emergency responders.