Should Marijuana Be Legalized?

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.

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

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.

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

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.

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

Putting a tax on marijuana as a product would not only be a huge help on the government but to the economy as well. Taxes collected from legalized drug sales could be used to fund many government programs. The money could be used in treatment programs to get users off drugs and education programs to prevent children and others from using drugs in the first place. As a replacement for building and funding prisons for inmates convicted of drug-related crimes, the money could be used to build schools and fund the educational needs of

The time and money being used to help fight marijuana has proved to be an unsuccessful cost and could be used in more beneficial uses like education or fighting violent crime. By legalizing marijuana the government would be able to save about $7.7 billion a year (geekpolitics). Not only would law enforcement costs be cut by legalizing marijuana but the government would also receive an increase in tax revenue. If marijuana would be legal it would be sold in the same method as alcohol and cigarettes. This method would allow the government to keep a close watch on the production of the marijuana and control the business cycle of the drug (geek). The legal marijuana would be taxed in the same ways as cigarettes and alcohol and the companies who would produce the product would also be taxed. Licenses for the sale of the legal marijuana would also be applied which would allow tight restrictions on the sale of the drug as well as provide safety.

Legal cannabis can benefit the U.S in many ways but most importantly is the financial support this plant could provide.According to MerryJane.com in 2016 If all states legalized marijuana it would generate an estimated $28 billion dollars in tax revenue. That’s $28 billion that would be reinvested in programs such as medicare,medicaid and social security. Not only will cannabis drive down pharmaceutical premiums for many cancer patients it will also generate money to be put into healthcare and retirement plans creating a stronger more financially sound America. In addition to this, Legalizing Marijuana in all states would create jobs all over the country from legal Growers to front desk “Budtenders”.America can legalize a plant that would create economic growth and jobs but they choose to keep overcharging people for outdated pharmaceutical prescriptions and letting those big companies affect elections and influence politicians.Forbes writer Debra Borchardt states that The legal cannabis market was worth an estimated $7.2 billion in 2016 and is projected to grow at a compound annual rate of

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

Colorado is a great example of the benefits of legalization and the profit to be made for recreational use. A mature marijuana industry could generate up to $28 billion in tax revenues for federal, state, and local governments. The U.S. market for legal, recreational, cannabis is projected to more than triple between 2016 and 2025, with medical marijuana sales jumping from $4.7 billion to $13.2 billion during that period. In 2016, medical marijuana sales accounted for 71 percent of the cannabis market, but that share is expected to decline to 55 percent as the number of recreational users grows (Mantel, 612). This type of money happening across the states could help put a dent in the National debt, help fund medical research, fund schools, and rehab

The Government should legalize the use of marijuana because of the economic benefits it would offer, The debate over whether the federal government should legalize marijuana has been escalating and states such as Colorado, and Oregon have legalized the use of medical and recreational use of marijuana due to the realization that marijuana could greatly benefit their economies, such as the creation of jobs, tax revenue, and young business leaders. The legalization of marijuana is highly beneficial to the United States government because it will save the government billions of dollars. According to Jeffrey Minron a Harvard economist “If marijuana were legalized, the government would save $7.7 billion dollars annually in law enforcement costs, and it could bring an additional $6.2 billion a year” (3).If the government were to legalize marijuana nationwide, there would be billions of dollars, which could be used to solve actual problems in the United States like education, poverty, Instead, the billions of dollars are being wasted to loosely enforce the ban.

Marijuana is our nation’s largest cash crop, with the legalization our country would have so much more money, with marijuana bringing in anywhere from ten ranging to 120 billion dollars a year, which our economy would benefit from. It would also spark new tax revenue possibly generating more than 120 billion dollars a year. “The states could see a major economic boon because of the legalization. The new measure is expected to bring the two states more than $550 million combined.” Says Harry Bradford with Huffington Post. With our country in debt legalizing medical marijuana would have a huge impact on our economy which is needed.

The United States has been involved in a failing battle versus marijuana since the execution of the Uniform Narcotic Act in the 1930's. Americans are not only squandering almost eight billion a year, Americans are losing probable income. Americans could be in a position to gain a profit of a significant amount of revenues if marijuana were to be legal and structured by the Department of Agriculture (Norml, 2014). Revenue from the tax system of marijuana purchases would extend from about two and a half billion for each year if marijuana were taxed like conventional inventory products to six billion if it were taxed like tobacco or alcohol.