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“Beliefs have no place in the study of economics.”

I would tell you who said that if I remembered his name. He was an econ prof at SDSU 40 years ago. He was right.

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It exists. It’s very real.

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Yes. Many people have encountered it.

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[quote=andymajumder]2018[/quote]

except for the stuff that doesn’t start until 2019.

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[quote=FlyerInHi]
So do you think pot heads are slackers who work less and contribute less to economic output? More sick days, and medical leave? Less driven to perform?

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Do you consider people who have a glass of wine with dinner slackers who work less and contribute less to economic output? More sick days and medical leave? Less driven to perform?

I have a friend, a medical doctor. He’s 62, he’ll be 63 next month. Apart from a few short (months) breaks, he’s smoked pot every day for as long as I’ve known him. More than 44 years. All through his college career, when he played D1 basketball. All through medical school. Almost every day since. He sold his practice recently. Outside of twice when he had surgery (for a torn rotator cuff, and a torn meniscus), he never missed a day of work because he was sick, since he bought his practice in 1989. Hasn’t need as much as an antibiotic since he was a kid. He’s 6’2″ and I don’t think he’s ever weighed more than 185.

So no, I don’t think that people who smoke pot are slackers. I think slackers are slackers.

[SK in CV]

[quote=DataAgent]
CNBC ran a series about the early days of the pot industry in Colorado a few years ago. On that series, they often said no one expected there to be much of a market for pot edibles. As it turned out, the demand for pot edibles was hard to keep up with. I have no hard numbers. Maybe it was just ‘fake news.'[/quote]

It was not fake news. It was very real. Exactly the same thing happened in AZ when medicinal became legal. And has declined every year to less than 5% of the market. One of those things that sound good in theory. In practice, not so much.

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[quote=FlyerInHi][quote=SK in CV]

If you don’t know something, there’s no reason to just make shit up and then call it your belief.[/quote]

Can we agree there is not enough data?

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No. We can’t agree.

The number of people who smoke pot compared to shooting heroin, or take other opiates is humungous. A miniscule number of pot smokers end up in treatment, and mostly, it turns out, have underlying medical issues, not pot addiction. (My dear ex worked on locked substance abuse units for decades.) Tens of thousands of opiate addicts seek treatment.

There is no shortage of data.

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[quote=DataAgent]When CO first legalized pot, no one was prepared for the heavy demand for pot edibles. I haven’t seen any numbers here yet, but I bet edibles will do well. Take ’em to the beach and watch the sunset.[/quote]

No, they won’t. In Vegas, where it’s legal, 25% of sales are edibles. An awful lot of people who have never tried it, figure eating it is the best way. Sounds like a good idea. So Friday night, they eat a gummy bear. And nothing happens. So an hour later, they eat another gummy bear. And again nothing happens, so they eat a 3rd gummy bear. And by the end of hour 3, they’re so f’ing high, they’re not sure if they’re dreaming. And Sunday, about noon, and their flight leaves in a few hours, they finally come down. And they’ll never do pot again.

In AZ, where only medicinal is legal, it makes up around 5% of the market. Very few repeat customers. I don’t know whether the numbers are different in Colorado, but I have seen actual numbers from multiple AZ dispensaries.

And it makes sense. Why would anyone want to take something that is supposed to make them feel good, but it takes 2 or more hours to take effect and it lasts way too long, but they can smoke or vape it, and it takes 2 minutes or less and most of the effect is gone in an hour.

[SK in CV]

[quote=scaredyclassic]Son, never trust a man who doesn’t drink because he’s probably a self-righteous sort, a man who thinks he knows right from wrong all the time. Some of them are good men, but in the name of goodness, they cause most of the suffering in the world. They’re the judges, the meddlers. And, son, never trust a man who drinks but refuses to get drunk. They’re usually afraid of something deep down inside, either that they’re a coward or a fool or mean and violent. You can’t trust a man who’s afraid of himself. But sometimes, son, you can trust a man who occasionally kneels before a toilet. The chances are that he is learning something about humility and his natural human foolishness, about how to survive himself. It’s damned hard for a man to take himself too seriously when he’s heaving his guts into a dirty toilet bowl.[/quote]

That’s one of the finest paragraphs I’ve read.

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[quote=FlyerInHi]
But habit forming, yes. Mild to strong cravings that will cause higher consumption, definitely . Maybe like salt or sugar or ice cream. I once ran into my neighbor at midnight. He was running out to get a bag of potato chips! Don’t you think people will do that for pot? [/quote]

No. They may smoke some pot and run out for some chips. They won’t run out for pot. People who smoke pot are meticulous in their planning. They would never run out.

That’s a joke.

No, absolutely not. Nobody has withdrawals because they don’t have any pot. Nobody needs it that badly. It doesn’t make anyone feel as good as cocaine. Or heroin. Or meth. It’s more like acid. I’ve known people that did a FT of acid. (Decades ago. I don’t know if anyone does acid anymore.) They liked it. They never craved it.

If you don’t know something, there’s no reason to just make shit up and then call it your belief.

[SK in CV]

[quote=FlyerInHi]

I think a lot of people will do pot as pain remedy because the behavior will be normalized. And because they will “feel good”. And once they feel good, they will seek the feeling regularly. Just like eating food that is “sooo goood.”

If one takes Tylenol everyday, one suffers chronic pain in my opinion. Or maybe addiction to low level pain medication. Occasional would once every couple weeks or once a month.

We will see.

BTW, I support full legalization, but people have to be held responsible for their own decisions.[/quote]

Have you never smoked pot? It is not addictive.

Do you think your opinion is as valid as…I dunno, science?

There are a lot of problems associated with too frequent use of both acetaminophen and ibuprofen, but both are highly effective pain relievers and neither is addictive, and neither causes chronic pain. Fortunately, science doesn’t really give a shit about your opinion.

[SK in CV]

[quote=FlyerInHi]
I think people who buy 500 pill jars of Tylenol for pain at Costco will graduate to smoking pot and eating pot infused cookies.[/quote]

Beyond the price, it’s not gonna happen. Tylenol works reasonably well for occasional pain. And it doesn’t decrease ability to function. Pot can work well for people with chronic pain. People with chronic pain are already not functioning normally. Almost no one eats pot more than once.

[SK in CV]

[quote=gzz]
The question is, do I lose the ordinary income carryback/carryforward worth $36,000 because my 2017 reported AGI is 0, not -$120,000?

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Yes, you would probably lose most of the NOL if you have cap gains to offset it.

The loss from the S-corp may not be deductible if you don’t have basis. If the loss was with borrowed money, unless it was borrowed from you, the loss may not be deductible. It doesn’t work the same with S-Corps as it does with entities taxable as partnerships.

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I don’t really understand what your last question means, but the wash-sale rules is 30 days, not 3 months.

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[quote=ltsdd]SK – I have yet to be able to demonstrate that I spend >=750 hours/year managing the props. So it’s been counted as passive income instead of a business. Am I missing something?

Flu – I hope you’re right. The new tax “law”, from what I have read, only mentioned the $10K cap. I interpreted that as a hard cap on how much you can deduct regardless of income or other expenses incurred wrt the rentals. For example, if the rental generates $15k in rents and the interest for the rental is also $15k, your taxable income will be $5k instead of $0 as it has been in the past.[/quote]

Rental income is passive, regardless of how many hours you spend on it. It’s still business income.

The state and local income tax limit only applies to itemized deductions. Has nothing to do with business deductions.

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