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Pros And Cons Of The Legalization Of Marijuana

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One of today’s world hottest debate topics is the legalization of marijuana. In the United States of America, we have achieved the legalization of this plant in twenty-eight out of fifty states with recreational and medical uses included. The state of Colorado is one of these states with two years since its legalization, it has produced answers on why its legalization has generated huge amounts of income but has also increased fatalities and diminished health on teens and young adults making people wonder whether this was the right thing to do and how it will affect our society in the near future. How does the legalization of marijuana in the state of Colorado affect overall its economy and what are the pros and cons to this legalization …show more content…

Only federal government spending has a higher multiplier. Legal marijuana has created 18,005 full time jobs and $73,992,452 in total revenue since the year of 2014 (Denver Government and MJPolicyGroup); all this contributing to the state economy. The total revenue is divided into five different categories each contributing to the total amount. $7,198.856 of Medical Licensing Fees, $19,622,948 of Medical Sales Tax, $21,053,684 of Retail Base Sales Tax, $5,885,539 of Retail Licensing Fees, and $20,231,426 of Retail Special Sales Tax (Denver Government). Since the marijuana industry does not leave the state of Colorado , spending on marijuana creates more output and employment per dollar spent than 90 percent of Colorado industries. In 2015, marijuana was the second largest excise revenue source, with $121 million in combined sales and excise tax revenues. Its tax revenues tripled alcohols tax revenues and casinos did not even come close to it. Marijuana tax revenues will eclipse cigarette revenues by 2020, as cigarette sales continue to decline (MJPolicyGroup). In 2015, there were $996 million dollars total sales, $2.39 billion dollars economic impact, and as like I mentioned, 18,005 jobs created in the marijuana industry in Colorado. All the buy and sell revenue in the state of Colorado goes to the workers and its businesses creating more local

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The states that have legalized marijuana have seen many benefits due to the increased cash inflow that has contributed too many things

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An article from the Baltimore Sun claims, “Colorado medical and recreational marijuana market created 12,500 direct jobs and about 18,000 total jobs in 2015 and generated about $1 billion in direct and nearly $2.4 billion in spin-off economic activity.” Looking at how the economy has grown in other states, we could sure hope that maybe the same could happen to us. The same article by the Baltimore Sun also stated, “He called marijuana a rapidly growing small industry ‘that has very high local impacts.” (the Baltimore Sun is referring to Adam Orens, founding partner of the Marijuana Policy

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and article ‘Potential Tax Revenue from a Regulated Marijuana Market: A Meaningful Revenue Source’ by Michael R. Caputo and Brian J. Ostrom states, “The demand for marijuana has created a multi-billion dollar industry.” If the Drug Enforcement Administration would allow marijuana to become legal, it could potentially boost our economy due to taxation, create employment through marijuana dispensary collectives as well as stores, and provide another source of revenue in each state. “... A consumption of 13,600 metric tons would entail 38 million people smoking one gram each, 365 days a year ” The concept of taxing marijuana would essentially be exactly the same as how the government taxes cigarettes or alcohol today.

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Barmak (2013) that the legalization of marijuana would establish an impressive industry opportunity which could contribute around “$2.5 billion in license fees and taxes.” Barmak (2013) article states that in “International Journal of Drug Policy, the retail income of marijuana consumption in B.C is between $443 million and $564 million. Also, the Canadians spend about $3 billion a year on Marijuana

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But the financial benefits of legalization go beyond taxing the sale of marijuana and keeping drug money out of the hands of criminals. All across the nation, wherever the drug is illegal, state and local governments spend enormous sums of money on the enforcement of marijuana laws, the prosecution of offenders, and incarceration of the convicted. The Wall Street Journal estimates that the American taxpayer spends $40 billion per year on the administrative costs associated with the criminalization of marijuana (Becker). On the state level, we can again look to the example of Colorado. Conservative estimates by the Colorado Center on Law and Policy show that legalization will save the state $40 million per year by no longer administering marijuana laws (Drug Policy Alliance).

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There were 8.2 million marijuana arrests between 2001 and 2010, 88% of the arrests were for just having weed. In the first 11 months of Colorado having marijuana recreationally legal, there was a 2.2% decrease in crime compared to the first 11 months of 2013. Traffic deaths were also thought to increase after legalization but instead did the opposite. In the same first 11 months of 2014, there was a 3% decrease in fatalities compared to 2013. This kept a 12 year long continuing decline to keep going down.

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Colorado has dedicated a majority of the marijuana tax revenue to school construction, with the remainder of the money being placed into enforcement and general state funds. Washington dedicated 60 percent of its marijuana tax revenue to substance abuse prevention, research, education and healthcare. The remaining money was dedicated to general state funding and local budgets. Although contributing to the general fund does not impact it in a tremendous way, social services and other programs could be strengthened. By improving said programs, people could be helped and new jobs could be created.

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The government isn’t just spending too much on the war on drugs, they could instead be making billions in tax revenue from the marijuana trade. There will always be money to be made from marijuana, but the government needs to decide if the money will go into their pockets, along with legitimate business owners, or into the pocket of drug dealers. When regulated and taxed correctly, marijuana legalization can produce remarkable economic benefits for a state. As proven by marijuana trade revenue in legal states, “In 2015, the legal marijuana industry in Colorado created more than 18,000 new full-time jobs and generated $2.4 billion in economic activity” (Ingraham). The fact of the matter is that the jobs and economic activity related to marijuana continue to persist in the unregulated states, however it goes unrecorded and untaxed, because after all it is illegal.

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During our current economic state the Marijuana revenue

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Marijuana Legalization Whether marijuana should be allowed to be advertised legally in states where it is accepted still remains a concern. While federally illegal, states where it is legal argue that they should be allowed to advertise their product in order to reach a profit in their business. In this essay, I will argue the positive and negative outcomes of legalizing marijuana to be advertised in the states it is allowed in order to understand the effect on society more fully. While marijuana might be rejected by others in the community of the states where it is legal, some have decided to make this product their business and, furthermore, made this their way of living. According to ethics, it is ethically suitable for a business to

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More than 16,000 jobs were created in Denver alone, thanks to the legalization of Marijuana. More jobs generally means the poverty percentage will go down. Since they legalized it their poverty has decreased a lot. Marijuana has also boosted revenue/ income so they can fund projects such as fixing roads or building schools. Marijuana is not for everybody just like alcohol, cigarettes, technology, and just about everything else in the world.

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This amount was generated in the course of 2 years, and every one of those dollars goes directly back into the bottom line of Colorado’s budget. In a study done by Jon Gettman (2007) “Lost Taxes and Other Costs of Marijuana Laws”, he estimates that the tax rates put on pot could bring in over $6.2 billion annually for the

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To better understand, it’s important to look at the model Colorado has set being the first state to legalize recreational marijuana use. CNBC’s very own Trey Gillies interviews Colorado governor John Hickenlooper regarding economic impact of marijuana. Hickenlooper said, “More than anything we wanted Colorado to think of itself as a place, not just for outdoor recreation, but a place to go and start a business.” With that mindset and openness towards marijuana related businesses it is clear to see why Colorado has the lowest unemployment rate in the country at 2.3 percent. Demonstrating how the legalization of marijuana can create more jobs.

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There are many reasons why people would choose to support the legalization of marijuana, profit is one of them. Marijuana could create massive revenue in the united states, and can be proven when looking upon states like Colorado, a state that has legalized marijuana. Experts say that marijuana has the possibility to “raise between $5 and $22 million annually” just in Colorado alone. Supporters of marijuana legalization state that by decriminalizing this plant law enforcement would have “more time and money to pursue criminals for other crimes”.

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Today the demands are changing in different states. In States such as Colorado and Washington, marijuana has been legalized for recreational use. This move raised several questions as far as decriminalization of marijuana is concerned. Besides portraying the US in a bad light, legalization of marijuana for recreation increases the risk of developing mental problems, increases government expenditure on public health, jeopardizes the future of children, and is a gateway to other dangerous drugs. Increased health problems and public health expenditure-

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