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.
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
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.
Marijuana is a drug that is legal only in a few states. Stigma- a mark of disgrace towards a particular circumstance. Marijuana has been a drug that has been struggling in order to be legalized because of people’s opinions about it. The real question here is if marijuana has the potential to be legalized. This research paper is about marijuana and its different perspectives on it, it will analyze: how carrying marijuana is a crime, legalization of marijuana, and why people have a bad stigma about it; how it affects us and the economy.
The legalization of marijuana will bring in much needed revenue to the US economy through tax revenue, the creation of jobs, decrease in the number of those incarcerated for marijuana possession, and help treat various health conditions that would otherwise cause an enormous amount of pain. Although marijuana is often looked down upon as a Schedule I illegal drug, this medicinal plant has been around for more than a decade and has been used for more than the "get high" purpose. Marijuana is non-toxic compared to multiple types of medications now on the market and it has never caused an over dose. It is also less expensive, if legalized than most of the overly priced medications provided by
Medical marijuana has been one of the most controversial topics in politics for years regardings its legalization and any possible benefits. Marijuana is commonly referred to as the “gateway drug” and has been thought to be what causes the downfall of our youth in today’s society. This has caused Marijuana to earn a bad reputation due to the immense surrounding propaganda and bias opinions. Cannabis is the scientific name of the plant which is absolutely natural and free of chemicals, but the psychoactive components in the plant has been proven to be of medical use. If medical marijuana is prescribed correctly it has the potential to help thousands of patients due to the variety of benefits it can medically provide. Medical Marijuana should
Lantern.com reports that the first day of the year, pot sales in Colorado were more than 1 million dollars and the tax rate was about 29 percent (Jackson). According to The Huffington Post, a state like Texas could double that amount (Jackson). A study from Cato Institute also revealed that legalizing marijuana would generate at least 8.7 million dollars in federal and state tax revenue annually (Jackson). If marijuana brings in millions of dollars we need to use this money for schools education and lunches. Not only could the government use that money for schools, but use that money for military and economic purposes. Marijuana can also open many jobs because of the dispensaries, and if there were a great quantity of dispensaries employment would rise. “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
Many states have legalized cannabis, for example, Colorado has already seen many positive results. The economy has been in an upwards advantage with raising over ten million taxes from the retail sale of cannabis within the first four months. They will use the first forty million of the tax collection to better the public schools in the area as well as improving the youth campaigns about substance abuse. Marijuana had not only raised more money for the state is has also saved millions of dollar in a single year.
The use of medical marijuana has been traced back to Chinese Emperor Shen Nung, who was credited with the first scientific investigations of cannabis back in the third millennium B.C.. Cannabis started to spread around the globe when nomadic tribes from Central Asia started to bring it with them and plant it during their trips. Used as a trading item during the 15th century, it traveled to the Western Hemisphere by African slaves. The French were the next to experiment with Cannabis on a large scale. Soon to follow an Irish surgeon William O’Shaughnessy was credited with the widespread introduction of cannabis during Western medicine in 1830s. Cannabis was widely used till
If the United States were to legalize marijuana, then our country would reap the benefits. “A mature marijuana industry could generate up to $28 billion in tax revenues for federal, state, and local governments, including $7 billion in federal revenue: $5.5 billion from business taxes and $1.5 billion from income and payroll taxes(Marijuana Tax Legalization).” This fact given from TaxFoundation.org shows how if the marijuana industry could help reduce the Tax debt within our country. Many other drugs such as tobacco and alcohol are permitted to be used within our country but do not give us the same opportunity as legalizing marijuana does. “A federal tax of $23 per pound of product, similar to the federal tax on tobacco, could generate $500 million per year. Alternatively, a 10 percent sales surtax could generate $5.3 billion per year, with higher tax rates collecting proportionately more(Marijuana Tax Legalization).” Marijuana can and should be used to this country full potential in eliminating tax
The legalization of recreational marijuana is an important debate, one that could really cause drastic changes in societies. Marijuana has entered a dark stage in the pathway of legalization, and it is correlating with the prohibition stage that alcohol rested in. The debate can often reach a nasty level between individuals taking sides with the topic. Legalization of marijuana can be very beneficial under regulated circumstances, therefore making all of the negative views less important.
Marijuana is the people’s drug of choice; it’s the most popular drug of all the drugs. Made famous in movies (Cheech and Chong), hit an all-time boom in the 60’s when smoke to rebel against law enforcement. It is popular even though it is illegal in the United States; I explain in this paper why we should take advantage of its popularity and help our struggling economy. How we can use the way Amsterdam regulates its recreational marijuana, and implement it in the United States. Violence will drop dramatically especially in the towns close to the Mexican border. These are more than enough reasons as to why we should legalize marijuana, there is nothing but benefits.
Marijuana is a very popular drug that many people have used. Over 98 million people over the age of 12 in the United States have smoked marijuana. It is known under many different names such as: weed, bud, ganja, hashish, doobie, reefer, mary-jane and grass. It plays quite a substantial role in modern day pop culture and almost everyone over the age of 16 knows what it is. Despite all this, marijuana is illegal and in most states a person can be sent to jail for the possession of less than a gram of this substance. Even if the person is doing nothing wrong and is subjected to a random search, if that person has marijuana on them, they will be charged with a criminal offense and sent to jail. Marijuana should be legalized because it can
Out of all 50 states, 23 of them have legalized the use of medical marijuana, including our capital, Washington D.C..With that being said, I believe that marijuana, medical and recreational, should be decriminalized nationwide. The United States is in tremendous debt as a result of our own mistakes, and offering our help to other countries. If marijuana were legal in all 50 states, and were taxed to the benefit of surpassing our debt, we would become increasingly financially stable.
When people think of marijuana they think everything bad about medical marijuana just because it has the word marijuana, but is medical marijuana really bad? Alcohol has been legal for centuries now and no doubt the most harmful drug in America and probably the most addictive. Marijuana has medical benefits to it that everyone always overlooks. Therefor why push away legalizing something that is beneficial to Americans with sickness and keep legal something that is harmful to Americans today. If medical marijuana has so many medical benefits, then why is alcohol, which has no medical benefits legally and not marijuana?