There are many economic benefits to the legalization of marijuana. The economic benefits that producers and consumers would receive are numerous, the tax that could be placed on a product would make the government a main benefactor as well, as well as the money saved on the enforcement of marijuana prohibition.
How can legalizing marijuana help the United States economically and medically? The United States has, in some states, legalized the use of marijuana. Studies done have shown that it helps the state economies grow, and has given the states millions of dollars in tax revenue. So imagine the money that would be saved if marijuana were legalized in the whole country. The United States would benefit from a stronger economy, increased jobs, reduced prison costs, lower medicinal marijuana prices, and the availability of medical marijuana to the people who need it.
Finally, the main reason millions of Americans want marijuana decriminalized is the positive effects it could have on our despicable economy. First off, decriminalizing marijuana will prevent users from going to prison which will save all us tax payers a whole lot of money. In California alone, the cost of marijuana enforcement can be estimated at over $200 million per year (Gieringer). The money is being spent on state prison, jail costs, court and probation, felony arrests, misdemeanor
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
Introduction What is Marijuana? Well, it is a plant that has many medical benefits and dates back almost 12,000 years ago. The plant has many components within itself like THC, tetrahydrocannabinol, it is the chemical compound in cannabis responsible for a euphoric high. Another component is CBD, Cannabidiol, which is a non-psychoactive and provides a wide range of medical benefits. There are eight states that allow for the plant to be used recreationally and twenty-nine states that allow the use of the plant for medical purposes only.
Legalization of Marijuana Despite late controversy regarding weed or as most professionals call it now medical marijuana, I have a strong opinion regarding given substance. I think marijuana should be legal but I'm going to discuss this matter more in my essay. Some topics I would like to discuss would be:
High Dreams Taxing marijuana would be an asset to this country’s economy by helping them with the debts, rebuilding schools, and lowering crime rates. According to Matt Ferner of the Huffington Post, since Colorado legalized marijuana the state has made $600 million in combined wholesale and retail sales (Ferner). This can be great because the United States could pay off much of its debts. That amount of money was earned through a 25 percent tax on retail purchasing, including a 15 percent excise tax, and a 10 percent sales tax (Ferner). Another asset of taxing marijuana is that the government can give some of the money to the public. Some of this money can go to schools, hospitals, and medical treatments. The rest can go to creating new
Legalization’s Effect on The Economy The legalization of marijuana could possibly create annual tax revenue of 2.4 billion if taxed normally, and 6.2 billion if the government used similar tax rates that are currently used for alcohol and tobacco sales. (Miron, 2005)
Have you ever considered the harmful affects of marijuana? Marijuana can be a very harmful thing and it can be addictive and lead to worsening behavior: regular use of marijuana affects your education, the substance would be highly abused by people, and injuries or even death could occur when you use this drug. People take advantage of this drug, even if it is prescribed by a doctor, it is still misused. Should medical marijuana be legal in Utah? If it was legalized in Utah, there would be lots of negative things that would happen. Education and learning could be affected immensely. Injuries and even death could occur when using this drug. Environmental damage could occur.
Legalizing recreational marijuana will help the United Sates economy by combating the war on drugs. Regulation of the drug will bring money into the state and to the nation as well. Moreover, Clare Howard in his article, Why legalize recreational marijuana states, “America has lost the war on marijuana. The cost to taxpayers has been $1 trillion and has resulted in 40 million arrests. The war on marijuana needs to end like Prohibition ended in 1933 with the country recognizing failed public policy and formulating another plan with reasonable regulations and restrictions… perhaps regulating marijuana like alcohol and keeping it illegal for
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
Introduction In the span of 2013-14 the reports of drugs in Australia increased. There were record high reporting’s of many types of illicit drugs at the border patrol. Furthermore, many other illicit drugs had their second highest reporting in history. Cannabis is the most common drug in Australia. The number of detections of cannabis in 2013-2014 decreased, but the total weight of detected cannabis at the border control increased dramatically and was the biggest cannabis find in the last decade (Australian Drug Commission 2014). In the draft for the National Drug Strategy 2016-2025 cannabis is mentioned as a priority drug as it is the most common used illegal drug (Intergovernmental Committee on Drugs 2015). As the recent news that the Australian government is planning to legalise growing of medical cannabis there a gap in the policy of how to regulate medical cannabis and cannabis used as an illicit drug (Yaxley 2015).
legal it would benefit both those who use and those who don’t use because of tax revenue.
For instance, ” Revenue from taxation of marijuana sales could reach up to $8.7 billion per year if taxed like alcohol or tobacco” (Drug Policy Alliance n.pag.). This could bring our country out of debt, it might take more than 100 years but we could be debt free. Or take in consideration that in 2014 alone the state of colorado collected $44 million in taxes from marijuana sales. The government can use that to build/fix roads, police/military support, education, ect. The government can also benefit from legalizing marijuana by focusing the police on murder cases, rape cases, illegal drug operations that kill people, instead of low time marijuana
The first benefit to the legalization of marijuana would be the decreased spending on law enforcement. Many of America’s jails are filled to the brim with people who got long and unfair sentences for possession of the drug. Part of the