Should Marijuana Be Legalized For The Best Of Society?

As of 2012 Canada’s national debt has reached over $1.2 trillion dollars (Lammam et al, 2014). The state of our countries financial situation is as important to one Canadian as it is the next. Whether a person is retiring, applying for a mortgage or a student loan the Canadian economy affects everyone. Legalizing marijuana in Canada opens the door to a boost in taxation dollars that the Canadian economy and country as a whole could utilize. If, for example, marijuana was taxed like tobacco, there would be increased revenue from federal and provincial taxes as well as HST (Latif, 2014). Not only would the legal sale of marijuana boost the economy, but the jobs that would be created in the process would also have a positive effect. Canada currently has an unemployment rate of 8.1% nationally, with rates even higher in some provinces (Sen & Pierard, 2011). The legal sale and distribution of marijuana would create jobs in the transportation, growing and processing sectors but also areas such as marketing, advertising and serving. Marijuana users would contribute economically by purchasing the product and paying taxes. Not only users, but new businesses would also add to the Canadian economy including workers who run these businesses by paying taxes on their pay checks. Legalizing marijuana creates a new supply-demand market that the Canadian government could

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.

Should marijuana be legalized? Many Americans have been asked this question or have heard some type of news about the issue. Marijuana is commonly known as cannabis which refers to the dried up hemp plant cannabis sativa, even though marijuana is a plant and has no chemical additives it has been a tropic of controversy for many years but nowadays it is in the spotlight more than ever. For centuries, marijuana has been used by people throughout the world for religious, recreational and medical use. A few countries like the Netherlands and Uruguay have already legalized marijuana for recreational use and many other countries are taking a step towards doing so. Is it finally time for the United States to take a closer look into possibly legalizing marijuana. Marijuana should be legalized for medical and recreational purposes because it would aid in the War on drugs, it would become an important source of revenue for the government and reduce overpopulation of American jails.

The authors are a research economist and Vice President from the organization, which contributes to their biases on this issue. The authors argue that the marijuana industry could provide $28 million in tax revenues. The authors also argue that the taxation of marijuana will also reduce the societal risk of engaging in the illegal marijuana trade.

Activists for the legalization of marijuana argue that the legalization for it would help decrease violence on drugs and boost the economy by people shifting from illegal to legal. Legalization would fuel the economy because it would help the United States get out of debt by taxing marijuana, which we can make millions out of. Much of the money is used to enforce anti-drugs laws and imprisoning prisoners. It should be put to much better use, such as educate the youth with better programs which will prevent young adults from taking drugs .According to “Legalizing can reduce. Increase state revenue”, legalizing the recreational use of it will decrease enforcement expenses, increase in tax revenue, and decrease the unemployment rate, because more jobs such as marijuana-related jobs will be available. Drugs can be obtained legally, people will have no need to make deals with the dangerous dealers by reducing crime.

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

Another Economic gain that results from the legalization of marijuana is that the demand for legal marijuana creates an untapped market that can help out small business to grow and create young, successful business leaders for example “Sally Vander-veer, president of one of the state’s largest dispensaries and cultivation of marijuana, which has over 70 employees and a payroll of about 3.8million a year, is bullish on her rapidly expanding

For starters, the legalization of recreational use of marijuana would boost the economy. For the states that have already legalized weed, the tax collection surpassed expectations.

There has been much controversy over the legalization of marijuana. Some say that it would help the economy, while others argue that legalization would promote even more criminal activity. However it is, there are some positive economic benefits and negative social costs that would arise if marijuana were legal in America. One of the positive benefits would be the increase in tax money. America is currently in debt and this could potentially help us get out of it since Marijuana seems to be a popular recreational drug. Additionally, a positive economic benefit would be helping some companies that are in the agricultural realm flourish. On the contrary, there are some negative social costs to marijuana. Legalization might further a person’s

      There are many ways that marijuana would benefit the economy if legalized. An economy benefits when there is a healthy flow of monies within. This means internal spending by citizens on items of their choice. Citizen spending is what keeps the economy going. The use of citizen?s tax money would also be greatly affected. Tax money would be allocated more properly and used in more strategic ways. The taxation of items such as legalized marijuana brings a flow of money into the economy that would otherwise not be there. This increase of government funds would allocate more money to federal programs that are in financial need. Federal programs include public education, health education, treatment programs, etc. When the public?s way of

To explore the economic benefits of marijuana legalization we must first look at the amount of marijuana that is purchased by users. The White House Office of National Drug Policy reported that between 1988 and 1995, Americans spent about 7 billion dollars on the illegal substance, averaging about a billion dollars a year (Prislac, 2009). This means that annually there is a billion dollars out there that is subject to no sales tax. The national average for sales tax is 5%, so if you calculate the billion dollars being spent on marijuana, this means there is approximately 50 million dollars in sales tax that our government never gets

One of the biggest and most important pro legalization arguments refers to the economic benefits of decriminalizing and legalizing marijuana. “Another major argument in legalizing marijuana refers to the economic gains of such a decision. First, the pressure, and implicitly costs, in the criminal justice system would be alleviated through a great decrease in the number of drug offenses brought forth, resulting in less overcrowding of the courts and prisons for marijuana-related offenses, currently very numerous. Marijuana is the most commonly used illicit drug, used by 81% of current illicit drug users. Second, costly drug-control programs would be eliminated and furthermore the state would be able to collect taxes out of the controlled sale of marijuana.

Cannabis, formally known as marijuana is a drug obtained from the tops, stems and leaves of the hemp plant cannabis. The drug is one of the most commonly used drugs in the world. Only substances like caffeine, nicotine and alcohol are used more (“Marijuana” 1). In the U. S. where some use it to feel “high” or get an escape from reality. The drug is referred to in many ways; weed, grass, pot, and or reefer are some common names used to describe the drug (“Marijuana” 1). Like most drugs, marijuana has a very long history. People have been using the plant around the world for thousands of years. The oldest record of the marijuana plant dates back to 2727 B. C. in China where the plant was used as a medical herb for treating conditions like rheumatism, gout, malaria and even absent-mindedness (“Cannabis, Coca, & Poopy: Nature’s Addictive Plants” 1). Slowly, the plant started spreading around the world. By 1545, cannabis was starting to appear throughout the western worlds. Being introduced to South America by the Spanish to be used as fiber. The crop also had many other common uses around the world. In North America, cannabis was often used to make paper, ropes, clothing and other materials (“The Origins of Cannabis” 1).

The economic advantage created by the legalization of marijuana is a major benefactor to the country. “According to Arcview Market Research, in 2015, Colorado collected more than $135 million in taxes and fee on medical and recreational marijuana. Sales in the state totaled over $996 million. Sales in North America grew 30%, to $6.7 billion, in 2016, and is projected to increase to $20.1 billion by 2021” (Krishna, 2017). The taxes collected from marijuana can be beneficial to the economy by helping with the debt that America has, and it can create a new source of funding for government construction. In addition, making marijuana legal can create many jobs. An

To begin marijuana has seen the worst of the arguments against being legalized, therefore, stepping away from the allegations that we’ve seen throughout the years will definitely boost the United States economy significantly. Allowing marijuana to be legalized will allow the government to tax the product, which will create revenue for the government that way the economy will flourish. First of all, marijuana is one of the United States most valuable cash crop, therefore taxing marijuana could mean creating a tax that is based on buying and growing the product. Allowing the government to get as much revenue as possible to let the United States be as efficient as it can from an economic stand point. As a matter of fact,