Banks Are Steering Clear

A controversial topic often being advocated for by sitting governors is whether the legalization of marijuana is more beneficial or harmful to the economy. Marijuana, also known as weed, is a mixture of the dried and shredded leaves, stems, seeds, and flowers of the cannabis sativa plant. It’s the most widely used illegal drug in the United States, even though studies have shown results that the benefits of using marijuana for medicinal or recreational reasons far outweigh the negative matters that may be associated with its use. While marijuana is still a controlled substance under federal law, thirteen U.S. states currently have compassionate use laws in place, which allow for regulated medical marijuana use. By legalizing marijuana, the government is helping the economy by reaping medical and financial benefits, not only at the state level, but also at the federal level. Taking into account the numerous studies done with marijuana on whether it is for recreational use or medical purposes, the government cannot go wrong in legalizing marijuana because of such an impact it will have. Marijuana should be legalized for recreational purposes because it will help society economically and socially.

This paper will look at the benefits and drawbacks to legalizing marijuana by looking in at Colorado.The state made forty million dollars by taxed marijuana in 2014 alone, also Colorado saved countless millions because of the extremely lower amounts of marijuana arrest and court cases. It is not clear how having new recreational marijuana stores opening will affect the cannabis market, or businesses expanding around them. Gov. John Hickenlooper says that the economy is thriving with record setting numbers of tourists (73.1 million). 49 percent of those tourist said that legal marijuana influenced their decisions to vacation in Colorado. The ER’s in Colorado have also seen a rise in numbers of marijuana related cases and those cases in non-residents have almost doubled. An unexpected situation that arose from legal cannabis was the amount of electricity that is being use to grow the drug. Some cannabusinesses have to go green with solar or wind power. There are many varying views on the effects of legal marijuana have developed in Colorado since marijuana became legal in 2014.

The topic of legalizing recreational marijuana in the United States has been a very controversial one. States such as Colorado and Washington have gone on the offensive and have legalized recreational marijuana and have enjoyed the high revenues brought in from cannabis sale. On the other hand other states have kept low profiles because they are wary of the possible negative outcomes of legalizing recreational marijuana and are using the states of Colorado and Washington as guinea pigs to see what their next course of action on this controversial topic should be. This is not only a highly debated topic among politicians, but also by the people. According to a poll conducted by the Pew Research Center 52% of Americans

high demand of consumptions the United States government would be able to regulate and tax

The legalization of marijuana has been a topic of debate for many years. This may be because of the cultural diversity that the United States of America is known for. Recently, bills were passed in Colorado and Washington to implement the legalization and regulation of recreational marijuana use. These events along with the ever growing popularity of the drug in society, media, and entertainment are proving to be more than anti-marijuana advocates can handle. In this paper, I explore the financial, social, medical, and political benefits of legalizing marijuana.

Another external influence on Harborside’s business is their clientele. The customers are a business’s reason for staying open. Their goal is to make them feel comfortable and safe. With the government cracking down, customers are becoming scared to put their names on any list that involves medical grade marijuana. It seems, with over 20 million dollars in annual sales, Harborside has found a way to maintain their customer’s privacy and comfort, making everyone feel a little bit better, at least for now.

The fight to legalize marijuana has been waged for decades and it’s about time that we find a resolution. I’m not a supporter of marijuana, I detest the culture associated with the drug and have no interest in consumption of the drug. But the effects of enforcing laws outlawing marijuana have done more harm than good in the US. The United States imprisons too many minorities due to minor drug infractions, the costs of enforcing these laws are too high, and the government is missing out on tax opportunities due to the current drug laws.

There have been many issues with the state laws regulating Marijuana in the US. I knew this would be a good topic to choose for this unit, and in this by article by John Hudak the case of Coats VS Dish Network is discussed; the case is a perfect example of how federalism can go wrong. The problem here was the misinterpretation caused by allowing states to regulate a classified “controlled substance,” while the subject matter has a different interpretation at the Federal level. Coats was terminated for using medical Marijuana outside of his work place to treat his medical condition. He argued his case by pointing out that the State of Colorado legally allowed him to be purchase medical marijuana legally for medicating.

Imperial Bank of Commerce (CIBC) World Markets, the legalization of marijuana could create a $10

This article introduces the benefits of marijuana that it has to the states that have legalized it. This article explains how self-funding a product like marijuana can relieve other issues within the state. John Hudak wrote this article for a western law review. He has also written for CNN as well. He is a fellow at the Center for Effective Public Management, Managing Editor, FixGov Blog, and The Brookings Institution. Prior to joining Brookings, John served as the program director and as a graduate fellow at the Center for the Study of Democratic Institutions. He holds a B.A. in political science and economics from the University of Connecticut Andan M.A. and Ph.D. in political science from Vanderbilt University. The credibility comes from

Marijuana usage is a topic that has been discussed for some time now but the recent medical and recreational legalization of this drug has brought about a new area of unchartered territory. The business industry will have to revise many of their employment and safety requirements. After viewing some current policies many businesses are likely to be forced to established new protocols for intra and inner state practices. There are many types of complications as to why the marijuana usage laws should stay at the federal level and not within the state.

The United States has been involved in a failing battle versus marijuana since the execution of the Uniform Narcotic Act in the 1930's. Americans are not only squandering almost eight billion a year, Americans are losing probable income. Americans could be in a position to gain a profit of a significant amount of revenues if marijuana were to be legal and structured by the Department of Agriculture (Norml, 2014). Revenue from the tax system of marijuana purchases would extend from about two and a half billion for each year if marijuana were taxed like conventional inventory products to six billion if it were taxed like tobacco or alcohol.

Cannabis is becoming increasingly widespread and increasingly common in modern-day society for both recreational use and for medication. The article by Craig Reinarman, ‘Criminalisation, legalisation and the mixed blessing of medicalisation in the USA’ generates many controversial issues of cannabis.

Although the revenue derived from legalization of marijuana should not be a primary reason behind the movement, it would provide a much needed boost to state and federal budgets. Today, the money already being made from the illegal sale of the drugs is going into the pockets of the dealers and suppliers. Projections on revenue impacts differ based on who is supplying the data and change often. Revenue estimates for the legal sale of marijuana in 2010 fluctuated between $10 billion and $100 billion. A study conducted by Scott Bates in 20014 reviewed the impact of legalization of marijuana in Alaska and estimated that Alaska could realize a $10-12 million dollar boost in state revenue annually (Boreal Economic Analyisis & Research, 2004). National

Considering that legal cannabis is now the fastest growing industry in the United States, its potential is too strong to be overlooked by governments, entrepreneurs, and business entities. The outdated stigma of cannabis and the doubts surrounding it as a successful industry have been replaced through legitimate research, supportive laws, and market demand exceeding the expectations of many.