The problem is that this still does not deal with the issue of a black market. There is a huge incentive for dealers to sell (high prices). What makes an ounce of weed worth half an ounce of gold? Surely it does not require the cost of one half ounce of gold to produce an ounce of dank, or am i wrong?

Until this price incentive is removed, the unlawful element will continue to take in huge profits, without paying much in taxes.