There's no reason at all not to tax it exactly like cigarettes. Tax the shit out of it! The funny thing is that, when all the pot smokers get what they want and the government accepts it, they'll regret what they asked for. New laws about how it's handled, distributed, and preserved will be implemented. That shit will start having chemicals added to it just like cigarettes in the name of "safety" and "shelf life". Next thing you know, you'll have a government regulated, more toxic, highly taxed product. Be careful what you wish for.