Yes, legalizing medical marijuana can be economically wise. It can be sold in the same way other drugs are sold. There are many prescription drugs that make marijuana look like aspirin and it is prescribed like it as well. What is the difference in dispensing marijuana as a legal drug?
First, legalizing marijuana saves taxpayer dollars in the criminal justice system. Billions of dollars spent on arrests, jail and court costs will be saved. Second, governments can tax marijuana sales to make more revenue available to state treasuries. Third, legalizing marijuana curtails powerful Mexican drug cartels who murder people on a daily basis. In short, legalizing marijuana saves money and saves lives. Instead, we should focus on helping the homeless and hungry have better lives.
Many years ago, marijuana was deemed dangerous because of its effects, a move that essentially shut down the hemp industry. If we legalize marijuana now, it is economically wise. Legalizing the product will mean that a lot more people will be interested in working with marijuana and a cannabis industry will be born. It will create jobs and bring in more tax revenues.
If marijuana becomes legal, it could be a good sources of revenue. The government could levy taxes on the sale of marijuana, and private companies could make money rather than illegal drug cartels. Marijuana could become a major product like tobacco or alcohol. Especially in this economic climate, the government should consider legalizing marijuana.
Yes, legalizing medical marijuana is very smart, and economically wise. First the government is able to tax the hell out of it, adding another revenue stream and it will generate a ton of money. It would provide more jobs for people to man the dispensaries, as well as have people spend money back into the economy.
Keeping marijuana criminal means we reap absolutely no tax benefits from it. It's an untapped flow of revenue we could be using to build better schools and infrastructure. To those who say it's harmful, all the more reason to regulate and tax it... that's what we do anyways, we tax things that aren't actively and directly improving the country in order to have spendable cash to improve the country.
Legalizing marijuana is very unwise decision, economically stating. The tax that comes from legalizing marijuana may seem lucrative at first sight. But if we all take a closer look, it is not the actual case.
My first argument: Costs outweigh the benefits. If we end up spending more money to protect social law and order that will come under scrutiny if marijuana is legalized, then what's the point? The tax revenue can't cover the cost for social security which will be needed as marijuana users many cause many problems. Also, marijuana is a gateway drug, thus exposure to more strong drugs is surely gonna cause a social wreck in long-term future. This will end up hurting our economy.
Secondly, the arguments on the other side defy basic economic theories that build the foundation for this subject. Okay let's look at it practically. Even if the government sell marijuana it will always be higher than the street price. This will be the case for one simple reason: It is a demerit good and the high taxes people on the other side keep talking about. As marijuana is a highly addictive substance, people who get exposure (legally or illegally) will want more. But since, its price is so goddamn expensive in the legal market people will look elsewhere. Yes, the underground market! And the cartels who supply to the market will gain more demand meaning more market. This is what we are trying to prevent people! Therefore, on economic grounds, this debate is stale and holds no meaning.
A large amount of revenue will come in with the increase in medical marijuana. It will not offset the cost of cancer that will be created in the billions of new pot heads. Smoking marijuana causes cancer the same as cigarettes. The tax revenue will never pay for all of the medical costs.