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Legalization Leads to Financial Benefits

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How Legalization Leads to Financial Benefits
Alex Bradford
ITT Technical Institute

Marijuana. It is highly debated topic; this is due to different parties beliefs. The controversy lies within its legalization, and how it should be handled, or if it even should be legalized. It is my intent to use this paper as a way to point out how legalizing marijuana would be good for the economy. I believe the legalization of marijuana would benefit the economy with the generation of jobs, creation of tax revenue, and it would vacate some jail cells which could be used for more worthy purposes. How can the legalization of marijuana generate new jobs? One way they can do this is through the shops that could and would open up as specialty shops, designed to sell precisely marijuana products and accessories. It would also open up new positions for glass blowers, for the pipes and hookahs that people use to self-medicate. There have also been comparisons made between the legalization of marijuana now and when prohibition was repealed back in the early 1900s. “Making alcohol legal again has paid off. Just last year, the industry generated $91 billion in wages and over 3.9 million jobs for U.S. workers. In 2008, alcohol contributed over $40 billion to state and local revenues.” (http://www.forbes.com/sites/kellyphillipserb/2012/04/20/stirring-the-pot-could-legalizing-marijuana-save-the-economy/)
Some people have the opinion that marijuana can damage tax more than aid. Well I have supported beliefs that taxation on marijuana will aid the country more than damage. “Take San Jose, for example. According to the Sacramento Bee, taxing legal medical marijuana collectives brought the city $290,000 in the first month the tax was imposed. Annualized, that’s nearly $3.5 million”.( http://www.forbes.com/sites/kellyphillipserb/2012/04/20/stirring-the-pot-could-legalizing-marijuana-save-the-economy/) Think about it. One city managed to generate $3.5 million dollars in taxes, just by legalizing marijuana. Imagine that across the entire country. Imagine the revenue produced, on scale with each city, each community. That would possibly be enough revenue generated, over the course of a few years, to bring this country out of debt. Even the opposition to the use of marijuana is starting to fade away. Demographic change and widespread public experience using marijuana imply that opposition to legalization will never again return to the levels seen in the 1980s. The strong consensus that formed the foundation for many of today’s stringent marijuana laws has crumbled. (http://www.brookings.edu/research/papers/2013/05/29-politics-marijuana-legalization-galston-dionne)
Legalization would also empty out jail cells that are being used to hold offenders on small offense drug charges related to marijuana, such as trafficking or intent to resale. Marijuana trafficking is considered a high offence even though it is legal in some states to own and smoke for purely recreational use.

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