Essay on Economic Benefits Of Legalizing Marijuana

Essay on Economic Benefits Of Legalizing Marijuana

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Economic Benefit of Legalizing Marijuana
Weed, pot, Kush, ganja, sticky icky, Mary Jane, grass, dope (Horn). All these names refer to marijuana, a psychoactive drug made from the Cannabis plant. In the United States, eight states have legalized the use and possession up to one ounce of marijuana (Gieringer). However, the other forty-two states have marked marijuana as an illegal drug due to its addictive perception and historical link to narcotics. National Organization for the Reform of Marijuana Laws (NORML), which is an organization that opposes marijuana prohibition, argues marijuana is the third most popular drug in America and nearly hundred million Americans have experimented with marijuana (NORML). I believe marijuana should be legalized throughout all of America in order for the American government to use the revenue to help its financial standpoint. Legalization would lead to revenue, business startup, decrease unemployment levels and other possible benefits. The purpose of this essay is to bring knowledge of the economic benefits of legalizing marijuana and to urge the public to be more supportive of the legalization. The importance of this argument is to show America can economically benefit from a drug that is proven to be less harmful in comparison to other legal drugs.
Legalization of marijuana would allow America to tax cannabis related products, which would be used as a form of revenue. Based on Dr. Dale Gieringer’s “Economics of Cannabis Legalization,” if there was a $0.50 or $1 tax per joint, United States could possibly make between $2.2-$6.4 billion in excise taxes and $0.2-$1.3 billion in sales taxes (Gieringer). “Each year, the federal, state, and local government spends forty-four billion dollars fighting ...

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...e. This is a waste of taxpayer’s dollars and should be used to keep prison for more serious case criminals. Legalization would help save money on prisons and save money on enforcement of prohibition. Lastly, marijuana is scientifically proved to be a safe drug in comparison to tobacco products and would actually bring in more revenue in comparison to tobacco, which is legal. Therefore marijuana should be legalized in America for an economic benefit. The aim of this paper is to bring awareness of the fiscal benefits of legalizing marijuana in the United States, and address the benefits and prove that legalization would be beneficial to the American economy. As a country, we are becoming increasingly progressive. Legalizing marijuana and educating people about the benefits of marijuana and how to properly use the drug is yet another step towards advancing our society.

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