Legalization Of Marijuana Analysis

Marijuana or Cannabis is a hallucinogenic drug that contains a very high amount of tetrahydrocannabinol (THC). It can be used for both medical and recreational reasons, but it is currently illegal in most states in this country. This drug has been illegal for the majority of this country's history, and just recently several states like Washington, California, and New York have passed laws so that people with medical issues are able to consume this drug for their own medical needs

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 legalization of marijuana will lead to a boost to the economy. With the United States being trillions in debt, an increase in tax money would be a big help to lower the national debt. Colorado, one of the first states to legalize marijuana for recreational and medicinal uses, is showing valuable data of an increase in tax money, “In 2015, Colorado collected more than $135 million in taxes and fees on medicinal and recreational marijuana. Sales totaled over $996 million” (Krishna, Mrinalini). Now, Colorado is joined by seven other states, Washington, Oregon, California, Alaska, Maine, Massachusetts, and Nevada, in the full legalization of marijuana. With these states joining with Colorado, the United States is seeing sales “[grow] by 30%, to 6.1 billion, in 2016 and a projected 20.1 billion in 2021” (Krishna, Mrinalini). With that in mind, these sales are shared among only eight states, add another forty-two states and the rates could surpass the trillions. Considering the evidence, the act of not legalizing marijuana would be foolish.

Recreational Marijuana use is something very beneficiary for the economy. Amendment 64 is a prime example. Being passed in 2012, Amendment 64 has had an outstanding influence in the economy of Colorado. The Amendment has increased the state’s tax revenue, created numerous careers for people, and has made Colorado a must see tourist location for many.

Medical marijuana, like alcohol, cigarettes and other drugs, is significantly taxed, which generates governmental funding. Although the state of Colorado has legalized recreational marijuana as well as for medical purposes, a Time magazine article in September of 2015 reported that the collected taxes for the drug, in the prior fiscal year, more than doubled expectations, fetching more than $70 million for public coffers (Basu, 2015). Additionally, the previously-expended public funds saved by no longer policing the possession and use of marijuana have freed government currency to be used elsewhere. According to the Colorado Center on Law and Policy, the decriminalization of marijuana saved the state between $12 million and $40 million in 2013 (Way, 2013) It is indisputable that the legalization of medical marijuana, coupled with the decriminalization of recreational marijuana, would produce an almost immediate significant economic advantage for public

Christopher Ingraham looks into marijuana’s first year as a business industry in “Colorado’s Legal Weed Market”. In Colorado’s first year of legalization, their recreational dispensaries brought in an estimated $700 million in sales and $63 million in tax revenue (Ingraham). Katie Rucke reports that nearly 10,000 new job opportunities have arisen in “Six Months In, How Has Marijuana Legalization Treated Colorado?” The state’s unemployment rate has dropped down to 6%, one of the lowest rates in the nation, and the lowest it has been in the state since the recession (Rucke). Many jobs created by the

According to a recent article from Huffington Post; in Washington alone, the legalization of marijuana could bring in an estimated five hundred million in additional tax revenue. Along with tax revenue, reducing the added cost of marijuana could greatly drop the price per gram, resulting in more money to spend in the local economy. Currently, one billion dollars is spent in prisons for inmates that have been charged due to marijuana-related crimes in result of marijuana being illegal. Time magazine reports that, as a crop, marijuana farmer's in California have found a surplus of sales. An estimated fourteen billion dollars a year on average, making marijuana the most profitable cash crop in the state. If legalized, marijuana could help add countless amounts of jobs into the formal economy instead of the illicit market (Bradford, Huffinton

According to Mitch Earley, Ph.D., a psychology professor at the State University of New York at Albany and the editor of “Pot Politics: Marijuana and the Costs of Prohibition”, says, the United States government spent over five-billion-dollars on marijuana prohibition in 2000 (Earley 24). Earley also stated that legalizing marijuana would generate over six-billion-dollars in revenue annually if it were taxed like tobacco and alcohol (Earley 29). The national reporter for The Huffington Post, Matt Ferner wrote "Why Marijuana Should Be Legalized: 'Regulate Marijuana Like Alcohol.” In this article, Ferner concluded that Colorado will revenue about 60 million-dollars and experience a stimulation in job growth. In the same article, Ferner stated that “marijuana use among high school students in Colorado has decreased significantly since the state began regulating the sale of medical marijuana.” Not only will America have the ability to profit, but simultaneously regulate who purchases

Since Washington and Colorado have legalized Cannabis it is estimated that it will bring in billions of dollars annually. A study done at Cato institute predicted that Colorado would generate $8.7 billion in federal and state tax

As shops for recreational and medical Marijuana open, more purchases of the product will be made which impacts the tax revenue. An example would be Colorado (a state that legalizes Marijuana) where “In 2015, Colorado collected more than $135 million in taxes and fee on medical and recreational marijuana” (Krishna, 2017). Arcview Market Research also predicts that “Sales in North America grew 30%, to $6.7 billion, in 2016, and is projected to increase to $20.1 billion by 2021”. The legalization of Marijuana will also provide many job opportunities since a variety of different jobs will be needed that relate to Marijuana. Investopedia.Com states “A RCG Economics and Marijuana Policy Group study on Nevada says that legalizing recreational marijuana in the state could support over 41,000 jobs till 2024 and generate over $1.7 billion in labor income. The ICF study estimates at least 81,000 additional direct, indirect, and induced jobs in California as a result of legalized marijuana sales. It also projects an increase in total labor income by at least $3.5 billion”. Another way legalizing Marijuana would impact the economy positively is that the government can save money spent on enforcing the law of Marijuana being illegal. Huffington post states “Inmates incarcerated on marijuana-related charges cost U.S. prisons $1 billion annually, according to a 2007 study, AlterNet reports.” and “The government would save an estimated $13.7 billion on prohibition enforcement costs and tax revenue by legalizing marijuana”.This low risk substance saves the economy a lot of money and support it

I am linking you to the post where Mr. Vaughn's article is posted, all of the material there is his own work.http://www.associatedcontent.com/article/13115/why_marijuana_should_not_be_legalized.html?cat=17I do realize that it is a relatively old article, but I believe that he illustrates points that are shared by many citizens, and thus I respond to those concerns and points. (Albeit in a slightly sarcastic way at times, by which I mean no offense to Mr. Vaughn) Mr. Vaughn, I am very saddened by your lack of information on Cannabis and its legalization. I'm not telling you that you are wrong, as everyone is entitled to their opinion. I simply believe that your opinion is malformed from misleading, and incorrect information that was published

Majority of persons living in the United States have tried marijuana at least once in their lifetime. Marijuana is a plant which originated decades ago in Asia, and has since made its way to many regions of the world, eventually spreading to the United States. To this day, it has been used for many different reasons such as, recreational, medicinal, and spiritual interventions. Despite this, it was criminalized because authorities claim that it does more harm than good to the human body. They considered it a drug because it was reported that individuals who displayed violent behaviors were said to have a high level of Tetrahydrocannabinol (THC) in their blood. THC is a chemical found in marijuana that targets certain areas of the brain. Scientists

Marijuana has been used by people over many centuries for medical uses. It is a natural pain killer used today as a recreational drug by people all over the world. According to Noel Merino in, “Introduction to Gateway Drugs: Opposing Viewpoints”, “a drug is something other than food intended to affect the structure or function of the body”. Marijuana is a very controversial drug and has been outlawed in many countries for its affect on the function of the body. “Effects may involve hallucinations, impaired judgment, and mood swings.” Describes the effects of marijuana in “Marijuana” Current Issues Macmillian social science library. During the past century Marijuana has been legal, made illegal, strictly enforced, decriminalized,

Colorado alone raised about 100 million in tax revenue. This is much more than it was expected. The marijuana industry helps create new jobs, this means the economy is better. All the money that is collected from the sale of the plant creates new schools, makes roads safer, and overall it makes the state better. Bob Marley once said “herb is the healing of the nation, alcohol is the destruction” This makes sense because cannabis makes a person feel relaxed and have more appreciation of ones surroundings unlike alcohol which makes a person very