How legalizing marijuana could help boost the economy

We are literally losing hundreds of thousands of dollars by not making it legal. Colorado deserves some recognition for realizing this and should be used as a model for other states. Congratulations, Colorado, you are doing what we should all be doing. In finding that means, they will, undoubtedly, turn to the black market.

How legalizing marijuana could help boost the economy

This may not completely fix our enormous deficit, but it is absolutely an untapped, very attainable resource. With another potential 12 to 18 billion dollars in peripheral benefits associated with other businesses such as hemp production, tourism brought by Amsterdam-type coffee houses, etc.

California has lost business after business both overseas and to other states because of friendlier tax programs.

How legalizing marijuana could help boost the economy

Growing, selling and taxing our own marijuana would produce new jobs, more money, less criminals and new industries.

Instead of trying to prevent the inevitable, maybe we should, instead, reap the benefits. If marijuana were legalized and regulated, the marijuana black market would be entirely eliminated and the immense expenditure on both the war on drugs and the sale of drugs could be turned to far more practical applications.

In an ideal world, marijuana would be taxed and regulated much like alcohol and tobacco are today. It would be produced in many forms including pre-rolled cigarettes and food products which could be consumed responsibly by citizens within the law.

Marijuana should be restricted by existing local and federal zoning laws, sold at specific locations at specific times and only to responsible adults. The legalization and mass distribution of marijuana products would also alleviate some of its glamour and allure, and the regulation of its sale would actually make it more difficult for minors to acquire it.

The legal sale of marijuana would be a significant financial boom both to private citizens who choose to enter the industry and the United States government who can, and should, tax the use of the drug heavily.

The money saved on police budgeting from the war on drugs could also be more wisely spent, allowing police to focus on gangs, violence, organized crime, and the prosecution of dangerous, violent criminals. The regulation of marijuana also allows for many health benefits to those who use it.

Today, marijuana is illegal, so there is no regulation of what the drug contains. Unwary buyers of the drug often get more than they bargain for when marijuana is laced with other drugs and other harmful additives. If it were legalized, not only would this harmful practice never occur, but the products themselves could be heavily regulated for health concerns including filtering, and specialized growing and manufacturing.

Packages of the legal product would be emblazoned with warnings from the surgeon general describing the health risks involved. Additionally, laws would be passed forbidding the use of marijuana when operating a vehicle or piece of heavy machinery, preventing accidental deaths that are associated with marijuana use.

Here marijuana is again comparable to alcohol which causes thousands of accidental injuries and deaths per year. Through federal regulation, marijuana use can be made safe and profitable for all involved parties.

The only real losers are those who stand to profit from the illegal sale of marijuana and the transportation of the drug into the U. The revenue-generating potential would be greatly reduced if it were legal to be grown anywhere.

However, legalizing the crop would cause prices to plummet, she explained to viewers. Carol Ann Sayle, the wife of a legal organic marijuana farmer, explained her disappointment in the business of marijuana cultivation. This way of calculating the costs minimizes those produced by use of the drug itself i.

When the costs related to the use of marijuana are minimized, the legalization of marijuana gives the appearance of reducing marijuana-related social costs in the same way that counting only the costs of enforcing the speeding laws and ignoring the high social costs of speeding would make legalizing speeding look like a smart idea.

Asa Hutchinson, a former director of the DEA and an outspoken critic of legalization, explained there would be unintended consequences if the marijuana were legal. For example, there will be a greater social cost, from decline in worker productivity and school performance.

Legalization will also lead to greater need for drug education, rehabilitation and treatment. And there will be costs associated with selling the drug. According to the white paper, dispensary operators have been attacked, robbed and murdered.A RCG Economics and Marijuana Policy Group study on Nevada says that legalizing recreational marijuana in the state could support over 41, jobs till and generate over $ billion in labor.

Legalizing Medical Marijuana Essay. Legalizing Medical Marijuana What is green, currently illegal in the state of Florida, and could help not only with the economy, but also with many illnesses Florida residents suffer with today?Legalizing Medical Marijuana Essay.

The results reveal that legalizing marijuana would boost the Illinois economy (Figure 6). If Illinois were to legalize cannabis at an effective tax rate of percent, total recreational marijuana sales would be. How legalization of marijuana could help to boost the American economy.

Legalizing marijuana could lower to cost of buying it, allowing people who already buy it to spend lesson that and free up more money to be invested back into society. Nov 07,  · 14 Ways Marijuana Legalization Could Boost The Economy Two states became the first to legalize marijuana for recreational use Tuesday, but it's not just users that may get a high as a result.

The tax revenue from legalizing marijuana could benefit all levels of government: federal, state and local. You can see how Colorado’s legalization of weed has already benefited the .

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