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Research paper on the economic impacts of legalized marijuana
Research paper on the economic impacts of legalized marijuana
Economics of marijuana legalization
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Today, Americans are more in favor of legalizing marijuana than criminalizing it. 2013 was a successful year for marijuana legalization. Colorado and Washington both passed laws to make it legal for recreational use and now the majority of Americans agree that it should be decriminalized. Some states in the America have legalized recreational use of marijuana. They are Colorado, Washington, Oregon, Alaska, and also Washington D.C. The purpose of this position paper is to explain why marijuana should be legalized. Since the recreational use of marijuana has been legalized crime rates have fallen significantly, tax revenue has increased, and the public understanding and research of marijuana has increased. Colorado and Washington became …show more content…
This was a big change from 1969 where only 12% of Americans said yes to legalization. (Swift) According to an article by MSNBC by Erin Delmore, the Mendocio County California, Tom Allman warned people that there would be an increase in crime in Colorado because of the legalization of marijuana. However, a new report says that even after the new law, Colorado’s violent and property crime rates are actually falling. Data from the Denver Police says that violent crime, including homicide, sexual assault, and robberies fell by 6.9 percent in the first quarter of 2014, compared to the same period in 2013, and property crime, including burglary, larceny and auto theft dropped by 11.1 percent. (Delmore) Many people have debated about whether or not legalizing the recreational use of marijuana would …show more content…
In Potential Tax Revenue from a regulated marijuana market: A Meaningful Revenue Source, Caputo and Ostrom say that since the 1960’s people have become more and more interested in this product. They go on to say that in 1992, marijuana had become the nations leading cash crop. Even back then marijuana was making big money. A chart provided by Colorado Department of Revenue, Office of Research and Analysis shows how much money in sate tax revenue Colorado made from marijuana sales from January 1 to May 31, 2014. Just in the month of January they made $2,000,000 in taxes. In 2014, Colorado expected $578.1 million a year both wholesale and recreational sales put together to yield $67 million in tax revenue. (Legislative Council of the Colorado General Assembly) Also, some of the sales tax would go to school construction and another portion of the money would go towards regulation. (The Legalization of Marijuana in Colorado) In 2014, Colorado collected about $63 million in marijuana taxes. Lots of this money is being used for drug abuse education, research and substance abuse treatment. Even though many people are not in favor of this new law, hopefully they can be happy that the tax money being made from marijuana sales is going toward good things like the programs mentioned in the above paragraph. Not only is this good for revenue
This legalization allowed anyone to smoke and possess up to an ounce of marijuana as long as you are over the age of 21. Colorado is not just making a difference for the people that need it medically but even a difference for the people that do not need it at all. Since they legalized the drug in Colorado, petty arrests have decreased from almost 6,000 yearly to 120 yearly. As an added bonus, Colorado made a profit of almost seventy million dollars in marijuana tax revenue . This money went towards improving schools and the community. The alcohol revenue earned grew and just under forty two million in the same year. 19.6 million will go to the education system for Colorado in comparison to the previous year when there was only 13.9 million going towards the education (Ryan). Not only did it create revenue for the community and school systems, it also created many open jobs for people of the area. It also helps provide information about medical marijuana and where it comes from .
Malinowski, Zachary W. "Revenues High On Marijuana." Planning 79.4 (2013): 9-11. Academic Search Complete. Web. The Web.
Marijuana has had a negative appearance towards the public and government, but that all seems to be changing. Medical marijuana has started to have a huge impact on the United States and the world. It is a borderline substance that some people frown upon, but it has boosted the economy and has helped thousands of people across the United States overcome illnesses. But most people relate medical marijuana to recreational marijuana, which is still illegal in some states. Although many individuals find medical marijuana illegal, and unnecessary, it is a natural herb used to help symptoms caused by chronic illnesses. Over three million Americans use medical marijuana. Medical marijuana is the most widely used drug used to treat chronic illnesses. The use of medical marijuana has been a controversial issue here in America. Although, there are healthcare professionals that do believe that the use of medical marijuana can be very beneficial for certain patients. Just as there are benefits associated with the use of medical marijuana there are also negative effects associated with it.
The legalization of marijuana has been a highly debated topic for many of years. Since the first president to the most recent, our nation’s leaders have consumed the plant known as weed. With such influential figures openly using this drug why is it so frowned upon? Marijuana is considered a gateway drug, a menace to society, and mentally harmful to its consumers. For some people weed brings a sense of anxiety, dizziness, or unsettling feeling. Like alcohol, tobacco or any other drug, those chemicals may not respond well with their body. For other people marijuana brings joy, a sense of relief, and takes the edge off of every day stress. For those who are associated with cannabis, purposes usually range from a relaxant, or cash crop, to more permissible uses such as medicine, and ingredient to make so many other materials. We now need to look at what would change if marijuana were legal. Benefits to the economy and agriculture, health issues, and crime rates are three areas worth looking at. Deliberating on the pros and cons of this plant we can get a better understanding for marijuana. From there it will be easier to make a clear consensus on what is best for the nation.
Marijuana is a shredded mix of dry flowers, stems and the seeds of a plant called cannabis and people usually smoke it in the form of cigarettes for relaxation. Ever since marijuana hit mainstream America over 30 years ago, government prohibition of it has been the subject of an ongoing debate. Should marijuana be legalized? Proponents of marijuana argue that there are numerous medical benefits and that the drug is not more harmful than tobacco or alcohol. Therefore, prohibiting it intrudes on personal freedom. On the other hand, opponents argue that marijuana is too dangerous; its legalization would increase the chances of the drug falling into the hands of kids and that marijuana use often progresses to the use of more dangerous drugs like heroin and cocaine. In the past decade, a number of movements to legalize the use of marijuana has been gaining momentum. According to the 2011 Gallup survey, a record high 50% of Americans say that marijuana should be legalized and this figure marks a 4% increase compared to the previous year. Support for legalizing marijuana was 30% in 2000, 40% in 2009 before reaching 50% last year. This shows that despite government efforts to eliminate its use, marijuana is becoming more popular. More and more people realize that legalizing marijuana brings a host of benefits. It not only offers medical benefits to the terminally ill but it could also be a source of tax revenues and could save the tax payers billions of dollars that is spent on enforcement costs.
With an estimated twenty-five million active marijuana smokers in America that consume nearly thirty-one million pounds of marijuana each year, we are missing out on extreme revenue that this country cannot afford to go without for much longer (Krulick). Specialized government funded programs such as Women, Infants, and Children (WIC) cost around $7 billion and are in danger of being defunded to save money (Whitehouse). Marijuana tax revenues exceed $6 billion and would help less fortunate women in need of assistance when they are raising a child. On the state level, Alabama has a projected profit of $8.9 million in tax revenues alone from marijuana sales (Miron). States could increase pay or set up better retirement for police, firefighters, teachers, or any other underpaid public service.
In the last fiscal year alone, marijuana brought 70 million dollars in tax revenue in the state of Colorado. Colorado was the first state to legalize marijuana recreationally in the fall of 2012, and since then three other states and the District of Columbia have legalized the plant. Based off of sales in states that have legalized marijuana recreationally, if all fifty states legalized marijuana, they would bring in a combined 3 billion dollars in tax revenue yearly. That much money from sales of the plant alone could help to stabilize the suffering economy. Moreover, the American Government would be able to control the plant and distribute it how ever they see fit. The economic growth marijuana legalization could bring to the United States outweighs any argument against
With the revenues that marijuana will raise will go to the city. This money can help supply to fix roads. To fix roads can be expensive for a city or town. Not only will the revenues help with roads but also for youth programs. Money will be going to schools to help give a better environment for students to learn. The money will go to other youth programs as well. The revenues from marijuana
Let’s begin with US revenue gain that would occur from legalizing marijuana. Marijuana Offers Extreme US revenue boost in several different ways. Shouldn’t we want to collect revenue due to taxation other then criminalization? Marijuana is too expensive for our justice system and should inst...
Marijuana is the third most common leisure drug in the United States after alcohol and tobacco. Millions of Americans smoke marijuana despite the strict laws against its use. Marijuana is less dangerous compared to tobacco or alcohol. Smoking marijuana can cause breathing problems and coughing just like cigarettes and some people get addicted after using for a while. Regulating and legalizing marijuana will bring Americas greatest cash crop under law, create economic opportunities and jobs in the formal economy as opposed to the underground market. Adopting a legally controlled market for marijuana will ensure that consumers buy the products from a safe and legal source. Marijuana has been approved in some states for medical uses to ease the effects of different health challenges. Colorado and Washington legalized m...
Colorado is the latest state to approve the sale of marijuana for recreational use. This topic has been tossed around by the officials for years now. Legislators in Colorado have “considered excise and sales taxes on marijuana of up to 30 percent combined” (Frosch, 2013). With the rapidly growing market and marijuana industry, rules and regulations had to be put into place. Even this tax charge needs to be implemented and enforced.
The decriminalization of marijuana has been an intense debate since the end of the prohibition era. Although congress has their reasons for not legalizing marijuana, they are most likely clinging to their personal beliefs and failing to face the facts when it comes to this hot issue. Marijuana should be legalized because the cost of keeping marijuana illegal is expensive, prohibiting the use of it does not help the problem of over usage, and people deserve the freedom to use marijuana.
Marijuana legalization in Texas should include mandatory taxation and regulation of all sales. As stated in the previous section Washington generated eighty-three million dollars in tax revenue from the sale of legal marijuana (Marijuana Legalization in Washington State, 2015). If Texas taxed legal marijuana, the tax revenue received from it could be used to fund education or other civil services that are in need of state funding. Washington has proved the effectiveness of marijuana revenue by its funding of “substance abuse prevention and treatment programs, youth and adult drug education, community health care services, and academic research and evaluation on the effects of marijuana legalization in the state” (Marijuana Legalization in Washington State, 2015). The distribution of tax revenue received from the sale of legal marijuana in Texas is something that would have to be carefully analyzed to determine which specific state services need additional funding. The reduction of violent crime and marijuana conviction rates in Washington are key components in supporting similar marijuana legislation in Texas. Texas has three great examples with evidence to support the effectiveness of legalizing marijuana.While Texas has had a mixed history with marijuana, there is nothing stopping it from beginning a new
Marijuana continues to be one of the most used illegal drugs in the United States. Marijuana has been used for many years and at one time was legal to consume. Throughout the years, marijuana has been used for treatment of different medical conditions and has been used recreationally by people of all ages. While the use of medicinal marijuana has proven to be effective in treating medically ill patients, society continues to question its recreational use and the long term effects it will have on its users. Some feel that legalizing marijuana will only open up avenues for the use of more potent drugs, causing an increase in criminal activity. However, a number of people question why it is considered illegal being it is a naturally growing
...s collected through cannabis sales can partly finance this fund. As an example for the potential of tax collection through cannabis sales, Colorado’s tax on cannabis is expected to yield USD 98 million in 2014-15. (Wyatt, 2014)