The proposed marijuana tax could generate millions of dollars more than whats needed to regulate cannabis.

Tomorrow is election day, and among the most contentious issues is Proposition AA, which would establish tax rates for recreational marijuana sales. Prop AA opponents say a special sales tax of at least 10 percent, in addition to a 15 percent excise tax (not to mention other state and local taxes), is much too high, while backers believe the figures will guarantee proper regulation and safety.

But what would Prop AA do for state revenues? An online tool offers ammunition for both sides.

We first told you about Backseat Budgeter in 2011. Developed by Engaged Public, a public-policy firm, and Colorado State University's Bighorn Leadership Program, the program is intended to give the citizenry as a whole a better idea about the challenges before legislators when it comes to balancing a budget. Users can develop their own budgets and cut whatever they'd like -- although the program let's them know if their priorities could potentially lead to lawsuits, for example.

What happens when you apply Backbeat Budgeter to Proposition AA?

"If Prop AA passes," according to the folks behind the site, "the revenue from the taxes will be placed into a restricted or 'cash' fund dedicated to covering the state expenses associated with the legalization of recreational marijuana. These expenses include but are not limited to regulation of the industry, public health, and safety.

"In the case that the tax elections in November 2013 are successful, there will be little or no General Fund impact as a result of the legalization of recreational marijuana. In fact, there is a possibility that revenues from the taxes will exceed the cost of regulating the industry."........

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Author of this story is Michael Roberts.