Summary: The Legalization Of Marijuana

The legalization of marijuana has been a hot topic in the media for many years now. There is a major divide in those who believe it should be legal, those who do not, and those who think it could be legal with modifications on the usage. The number of those who support the legalization of marijuana is on the rise with nearly 50% supporting recreational marijuana legalization, and 81% supporting marijuana legalization for medical treatment as of 2015 ("Public Support for Marijuana Legalization, 2015”). Marijuana should be legalized on a federal level because it is safer than alcohol, it will increase the economy, and there is an unfair criminalization of marijuana.

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

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.

“According to the Colorado Department of Revenue, the regulated marijuana market generated more than $156 million in state tax revenue and license fees in FY 2015-2016.” (The Impact of Legalization in Colorado,2017). The amount recognized in the quote was not including local taxes. The taxes generated from recreational marijuana use can be used for the state of Colorado to spend on many valuable things in the state. Such as schools, public transportation, or natural parks. This benefits the economy by creating more money for the state to spend and putting more money into circulation.

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

There has been major news forming around the legalization of marijuana in Colorado. Medical marijuana has been effective in Colorado since 2000. Now marijuana is legal for recreational use for people 21 and up. Many rules and regulations follow the legalization of marijuana. Many people of Colorado fear this legalization, where others are totally for it and think it will help boost Colorado’s economy. I have found many

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

According to Sherry Robinson, a syndicated columnist with the Daily times, Colorado approved medical marijuana in 2000, and it 's now a $200 million industry that pays more than $5 million a year in state sales taxes. The state and cities are now salivating over potential revenues from recreational marijuana sales but must find the equilibrium between a "good tax" and one that drives cannabis sales underground. Now that Colorado has legalized marijuana for recreational use, it will boost the economy even more. A huge percentage of what is made will be going to the school system in Colorado. This will make a huge difference in the education system. This is a huge benefit that many parents and teachers are looking forward to. The legalization of marijuana will help create many jobs for Colorado residents also. People will be needed to grow and distribute marijuana.

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

If marijuana is legalized it should be regulated and taxed similarly to alcohol and tobacco. As of now, marijuana is fully legal in Colorado, Oregon, Alaska, Washington State, and Washington D.C. According to a 2010 survey from Cato, “Legalizing marijuana would generate eight billion, eight billion, seven hundred million, dollars in federal and state revenue annually.” (Huffpost,2013). In 2014, Colorado legalized marijuana for recreational use, as of now Colorado marijuana industry is worth one billion dollars. Legalizing marijuana would benefit states by providing them with much-needed tax revenue. According to Colorado Department of Revenue, in the first two months, the state collected six million dollars in tax revenue. (CDOR,2015) According to Colorado Department of Revenue, in 2015, the state saw nine billion, nine hundred sixty-two million, dollars in sales of marijuana. Colorado collected more than one hundred thirty-five million, dollars in taxes from the marijuana sales in 2015. (CDOR,2016) Washington State plans to raise nearly two hundred million dollars in marijuana tax revenue and fees in the next four years. Colorado uses a portion of their marijuana tax revenue to fund their

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

Beyond the economic growth through new jobs, taxes on marijuana will also provide the government tremendous revenue. With the legalization comes an increased demand for marijuana, which will allow the government to raise taxes. According to Jason Shubnell, “Colorado recently reported $2 million in tax revenue from recreational marijuana sales for the month of January.” Such a large sum of money collected in only a month of sale shows how profitable the legalization of marijuana in U.S. states would be. The possible heavy taxation, in combination with the economic gains from new jobs, is an adequate reason alone to legalize marijuana. Not only that, but the government will save a large amount of money because the amount of funding needed to hire police to enforce drug-related laws will no longer be as big of an expense. According to the Drug Policy Alliance, Washington state “is now

Legalizing marijuana would also benefit the economy by taxation. Since Colorado has legalized marijuana, the state has gotten $10 million in taxes from retail sales in the first four months. Governor of Colorado, John Hickenlooper who opposed amendment 64 recently compared Colorado’s economy since legalization to that of other states noting “while the rest of the country’s economy is slowly picking back up, were thriving here in colorado.” (6 Months of Marijuana Sales: Positive Trends Emerge in Colorado. Laura Pegram, n.d. Web. 26 June 2014.) This is a statement directly from Colorado’s governor. Tax money can help get our country out of the deep debt that we are in. Many states can also legalize

A number of movements to legalize marijuana have been gaining attention lately. Currently there are 14 states where marijuana is legal for medical use (medicalmarijuana). 41% of U.S. citizens believe marijuana should be legalized (drugpolicy) but others are still concerned about health damage. American society has lost the war against marijuana, and that's okay. We should stop wasting time and money trying to reverse history and instead legalize both medical and recreational use of this mild narcotic widely seen as no more harmful than alcohol.

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