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Save the Economy? Legalize Pot

2 years ago
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That's the not-so-surprising conclusion reached not long ago by more than a few noted economists, Milton Friedman among them. In a letter to congress and the president, over 500 of the bean counters called for the federal government to decriminalize marijuana, cease the costly and ineffective prohibition of the drug, and regulate it the way we do alcohol.

The report shows that marijuana legalization--replacing prohibition with a system of taxation and regulation--would save $7.7 billion per year in state and federal expenditures on prohibition enforcement and produce tax revenues of at least $2.4 billion annually if marijuana were taxed like most consumer goods. If, however, marijuana were taxed similarly to alcohol or tobacco, it might generate as much as $6.2 billion annually.

In California, San Francisco Assemblyman Tom Ammiano has introduced a measure to the legislature calling for just such a turnabout. In case you were wondering, marijuana is said to be California's biggest cash crop, but as it is illegal, it goes untaxed. The bill's authors claim that decriminalizing and regulating pot could fill state coffers with an estimated $13 billion per year.

Regardless of the discrepancies in the estimates that decriminalization would mean in terms of tax dollars, it's clear that we're talking billions that the government could raise. By regulating the drug, we'd also cut down on crime, cartel warfare, and all the astronomical expenses associated with trying to keep a naturally growing substance from sprouting within our borders. As Andrew Sullivan recently pointed out, at least two of our presidents have used pot, Michael Phelps, our greatest Olympic athlete, has smoked the stuff. Maybe, just maybe, all that PR money could be better spent.

I'm not a pot smoker, myself (I prefer the much more harmful drug known as alcohol), but this just seems like common sense. What do you think?

Should the U.S. decriminalize and regulate marijuana?
Yes1440 (93.1%)
No106 (6.9%)


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readyinla2008

It's day two that the Los Angeles City Council had decided and one the ability to close 493 Medical Marijuana shops around the city. They feel there's to many. To many for a few that don't like or understand what help this straight from the earth product is. There are many of us that need to smoke or eat, yes eat one of the brownie/sugar cookie to help us thru our day or night. OR I could go to one of the 800 CVS 450 Target or other drug pushing pharmacies, pick up my 4 different pill bottles for 265.00 This will last me a week. I won't tell you what I have to take them for, but if I don't I am in extreme pain, unable to sleep and cant eat. Oh, one of them, the other two pills are to counter the effect and damage caused by pill 1. I get headaches, but they don't offer pills for that just take aspirin for that when you take your med's. Then last but not least.......the pills amp me up so I cant sleep, so I get another pill to put me to sleep. It works like a champ. I'm OUT. Cant do a darn thing. OR, here's the good one kids, if I smoke a joint (wish there was a better name lol) in the afternoon I can work and not feel bad the rest of the day. And after a long day, I used to sit and drink a beer or two. But have since given it up. Again, I take two puffs on a joint.... and I'm relaxed. Still able to play with the grand kids, less stress and I feel great, all for 40.00 a week! It would be less, but I buy the top shelf. But I'm saving 225.00 every week!! A week! 900.00 a month. No wonder drug companies are pushing to keep this out of the hands of people. I could go on, but.......I hope I've proved my point. LA City Council, I can only hope you don't find a family member needing to have a little pot (medicine) to feel better. A lot of us who vote DO. Good luck at election time, while we suffer.

June 09 2010 at 7:03 AM Report abuse rate up rate down Reply

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