This Weed Bust Could Pay for Itself
$50 tax per ounce is insane. It's healthier and cheaper/easier/faster to produce than tobacco. An oz is like 30 cig-sized joints (assuming they're filterless). Supporting $60+ per oz, even for good stuff, will just give more validity to claims that everyone would just grow their own and that the black market would persist.
I just read How to Pay Zero Taxes 2009 , I can understand a higher tax than cigs, at least initially, but not 10-15x higher. It should be sold at around $40 per oz max, with $15-20 of that being being for tax and price variation relative to quality.