Recreational Marijuana Argumentative Analysis

Marijuana is a naturally grown plant that has beneficial properties and the ability to create textiles, paper products, and other goods. Marijuana is currently illegal in many states in the United States. The legalization of Marijuana will produce enormous tax revenue, reduce crime, give us a renewable resource, and give sick and suffering patients a new effective medicine. The legalization of Marijuana in the United States would both benefit the well-being of its citizens as well the economy.

Legalizing marijuana has helped increase the USA income. Since the legalization there has been an "increase in total labor income by at least $3.5 billion," (The Economic Benefits of Legalizing Weed By Mrinalini Krishna). After the drug became legal Colorado collected over $135 million in fees and taxes on marijuana, both medical and recreational. 30% is how much sales grew, $6.7 billion, in 2016. "Sales in [Colorado] totaled over $996 million." (The Economic Benefits of Legalizing Weed By Mrinalini Krishna). Not only has income benefited the USA economy but it has also helped the workforce.

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

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

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 economic influx during the time that Colorado legalized and taxed marijuana is similar to the economic influx that occurred when Nevada legalized prostitution. According to the Drug Policy alliance, “Data released by the state Department of Revenue reveal that tax revenue from retail marijuana sales amounted to $40.9 million between January 2014 and October 2014, not including revenue from medical marijuana and licenses and fees” (“Marijuana Legalization in Colorado”). The economic effects of legalizing marijuana have positively benefited the state of Colorado. Colorado has the fastest growing economy in the U.S. currently, “According to the Department of Revenue, 16,000 people were licensed to work in the

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)

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

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 new generation of pot entrepreneurs are move motivated by cashing in on this growing industry unlike their past generation counterparts who had the “toughest most reputable seller on the block,” mentality. Legalization and decriminalization are turning these shunned drug dealers into seasoned business professionals. Besides contrary belief there is more to the cannabis industry than just the growing and selling of it. Along with sale and production come many spinoff industries such as the paraphernalia business, packaging business, distribution/transportation business, and edible/topical business, with the vaporizer/concentrate sub market. The ability to legally cultivate up to six mature plants also benefits businesses that sell lighting and hydroponic equipment to growers. Marijuana testing centers that verify potency and contaminants are also being benefitted by legalization. Hemp also finds it way into the industry. This fiber is sustainable and could be used to produce endless products, the most significant being textiles and clean bio-fuel.

Since Colorado legalized marijuana in November of 2012, the state experienced massive economic growth. Licensed dispensaries generated more than $14 million within the first month of sales. In total, about $69 million was collected from taxes on marijuana in 2015 (Borchardt). If marijuana were legal in all 50 states,

Nine states and Washington D.C. has Marijuana legal for recreational use and medical purposes , but with a doctors note. These states are: Alaska, California,Colorado, Maine, Massachusetts, Nevada, Oregon, Vermont, & Washington State. A Gallup Poll showed that 64% of Americans Wanted Marijuana to be legal. Most of them were

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, according to ArcView Market Research. With the money they received from these taxes, they did many important things to improve life for the people. Schools were funded, and new ones were built, some money went to health programs, including Medicaid, substance abuse prevention efforts and community health centers, and there was still money left to fix roads and apartments throughout the state. What I already know about marijuana is that it doesn’t harm you like many other drugs do. How many people do you know that has killed someone or have done something dumb like many other drugs do? An estimated 88,000 people (approximately 62,000 men and 26,000 women) die from alcohol-related causes annually, making alcohol the third leading preventable cause of death in the United States. The first is tobacco. The two biggest causes of death are due to things that are illegal, and man made by

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

Although the revenue derived from legalization of marijuana should not be a primary reason behind the movement, it would provide a much needed boost to state and federal budgets. Today, the money already being made from the illegal sale of the drugs is going into the pockets of the dealers and suppliers. Projections on revenue impacts differ based on who is supplying the data and change often. Revenue estimates for the legal sale of marijuana in 2010 fluctuated between $10 billion and $100 billion. A study conducted by Scott Bates in 20014 reviewed the impact of legalization of marijuana in Alaska and estimated that Alaska could realize a $10-12 million dollar boost in state revenue annually (Boreal Economic Analyisis & Research, 2004). National