A Law Designed to Target Coke Lords Is Screwing Over Legal Pot Companies

Voters in Oregon, Alaska, and Washington, D.C. headed to the polls Tuesday to decide whether to legalize sales of recreational marijuana.

But would-be weed entrepreneurs in the states might be disappointed to learn that a federal tax law designed to target coke lords in the ’80s is eating into the profits of legal pot merchants across the country.

“This is one of the most critical issues facing the industry today because it directly affects the bottom line of anyone who cultivates or sells medical or recreational marijuana,” said Taylor West, deputy director of the National Cannabis Industry Association, an association of more than 750 cannabis-related businesses across the United States. “It results in businesses paying effective tax rates of 70 to 85 percent when they should be only paying 30 or 40 percent.

Islamic State Video Is Latest in Worldwide Propaganda War

The Islamic State’s media machine took to the web again on Tuesday with the release of a high-production Hollywood-style trailer for an upcoming movie entitled Flames of War.

The 52-second clip was issued in response to President Barack Obama’s vow to “degrade and ultimately destroy [the Islamic State],” and shows flames engulfing footage of the White House and Obama, as well as images of US forces in Iraq — despite Obama ruling out putting “boots on the ground” last week.

Video Emerges of Ukraine Military and Separatists Clashing at Donetsk Airport

Ukrainian military forces and separatist fighters exchanged fire at Donetsk Airport on Wednesday, as the fragile ceasefire between the Kiev government and breakaway factions in eastern Ukraine frayed further.

The video released by pro-Russia news organization Novorossiya TV shows separatist fighters trading fire with an armored vehicle near the airport. Four minutes into the clip an explosion ignites close to the cameraman, following several minutes of the fighters shooting at the distant vehicles.

South Carolina shooting spurs controversial funding page

Supporters of the white police officer who faces a murder charge for shooting an unarmed black man in South Carolina, have started a campaignon a popular crowd funding site – but another site halted fundraising efforts.

Trevor Noah: Fans rally after backlash over old jokes

Within 24 hours, as writer Dave Weigel noted, new Daily Show host Trevor Noah went from “progressive icon to villain”. The cause? A social media record that showed Noah cracking jokes that many found in poor taste – and worse, unfunny.

Chile’s Lithium Reserves: The Nationalization-Privatization Battle

Chile has embraced extractive industries as a tool for sustained economic growth, but this relationship does not come without controversy. At the beginning of this month, only one week after the government had announced the winner of its lithium contract, the concession had been scrapped and Sub-Secretary of Mining Pablo Wagner had resigned. Chile is the world’s biggest lithium producer, generating 30 percent of the world’s profits on the sale of raw lithium and sitting on an estimated 23 percent of global lithium reserves—second only to neighboring Bolivia.