Historian the musicologist - here's one for you.

[Lazie]

tax it, just like alcohol and tobacco! like amsterdam we could create a niche tourist product.

no-one decrying amsterdam, is wha suh?

Okay .. we legalise it in order to tax it. How much of that tax will have to be used to treat those who use weed to mek themselves useless? Okay, none of use know that.

How much of the tax collected from alcohol have to be used to treat those involved in a drink and drive accident? How much of that tax collected is used to pay emergency services each time there is a drink and drive accident? How much of the tobacco tax collected is used to treat those who have developed illnesses due to their tobacco use?

Our society already have a bunch a clueless clowns who have no idea what time of day it is, why we gonna give them a legal means to puff away their minds anymore?

Good try wid the tax thing. Can you think of any other benefits?

[Gamma]

please tell me that is pretending yuh pretending seh yuh idiot!!!

How much of the tax collected from alcohol have to be used to treat those involved in a drink and drive accident? How much of that tax collected is used to pay emergency services each time there is a drink and drive accident? How much of the tobacco tax collected is used to treat those who have developed illnesses due to their tobacco use?

you have made a BRILLIANT argument why tobacco and alcohol should be criminalised, yet it isn't! MORE HYPOCRISY that you seem to accept! but we go one step further...

How much of that tax will have to be used to treat those who use weed to mek themselves useless?

where is this money coming from NOW?

[Jangle]

If you are an economist...

If you are an economist and would like to sign on to the open letter below, please e-mail your contact details and academic affiliation to us at prohibitioncosts@mpp.org. You will receive a confirmation e-mail within 48 hours that your name has been added. Please also indicate whether you would like to be a media spokesperson in your state for this study.
An Open Letter to the President, Congress, Governors, and State Legislatures
We, the undersigned, call your attention to the attached report by Professor Jeffrey A. Miron, The Budgetary Implications of Marijuana Prohibition. 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.
The fact that marijuana prohibition has these budgetary impacts does not by itself mean prohibition is bad policy. Existing evidence, however, suggests prohibition has minimal benefits and may itself cause substantial harm.
We therefore urge the country to commence an open and honest debate about marijuana prohibition. We believe such a debate will favor a regime in which marijuana is legal but taxed and regulated like other goods. At a minimum, this debate will force advocates of current policy to show that prohibition has benefits sufficient to justify the cost to taxpayers, foregone tax revenues, and numerous ancillary consequences that result from marijuana prohibition.
Endorsing Economists:
*Affiliations listed are only for purposes of identification.
Affiliation MiltonFriedmanThe Hoover Institution, Stanford UniversityNobel LaureateGeorge A.AkerlofUniversity of California, BerkeleyNobel LaureateVernon L.SmithGeorge Mason UniversityNobel LaureateDavidAadlandUniversity of WyomingBurton A.AbramsUniversity of DelawareDaronAcemogluMassachusetts Institute of TechnologyLjubisaAdamovichFlorida State UniversityEarlAdamsAlleghany CollegeAshrafAfifiFerris State UniversityRita M.AkinWestminster CollegeWilliamAlbanos Jr.PSI Learning InstituteWilliamAlbrechtUniversity of IowaDonaldAlexanderWestern Michigan UniversityMichaelAlexeevIndiana UniversityDanAlgerLawrence UniversityJosephAllenUniversity of GeorgiaAmerAl-SajiMuskegon Community CollegeDaveAmosLorain County Community CollegeJamesAndersonBoston CollegeJoanAndersonUniversity of San DiegoGeoffrey T.AndronAustin Community CollegeJ.J. 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[Jangle]

« Is Gandhi Overrated?
The War on Drugs Hurts Scientific Research »

Reduce the Black Market

By Jason Morgan | Published: March 17, 2008

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President Bush’s economic stimulus package, which pledges to give the average tax payer a $600 rebate check sometime later this year, isn’t going to offset the negative impact produced by the net decline of 85,000 jobs in the first two months of 2008. The unemployment rate is a lagging indicator of the economy, meaning that job losses occur after the economy has already taken a downturn; or, jobs will increase only after the economy has begun to grow. That said, the evidence put forth in this poor start to 2008 would suggest that the economy is indeed in trouble.
Typically, even the promise of an effective stimulus package will uplift Wall Street and consumer confidence leading to increased consumer spending and subsequently a growing economy. The plan put forth has not instilled confidence in the consumer and has not bolstered Wall Street.
Legalize marijuana for economic reasons. It is estimated that the legalization of marijuana in the U.S. would lead to a $7.7 billion drop in law enforcement costs and generate $6.2 billion in tax revenue. This is a net $13.9 billion improvement to U.S. government budgets. Money spent on marijuana and things required to grow, distribute, and fabricate those products would be included in the consumer spending category of GDP, which would improve economic measures. What the study done by Harvard visiting professor Jeffrey Miron doesn’t take into account is the improved quality of life which arises from less militant policing of a substance that’s use is fairly widespread and has less negative effects on both individual health and society than alcohol. In 2006 there were 829,627 arrests for marijuana, which makes up 43.9% of total drug arrests in the U.S. Of the 829,627 arrested for marijuana-related charges, 738,916 were for possession alone. This is in direct contradiction to the alleged philosophy of the Drug Enforcement Agency, which states, “DEA targets criminals engaged in cultivation and trafficking…”.

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Legalization of marijuana would put a certain population of drug dealers out of business, ending the ancillary criminal activity in which they engage. I am not so naive as to believe that the supply of drug dealers will decrease by the exact same number as the marijuana dealers who were put out of business, because some of these dealers undoubtedly dabble in other substances and others who only sold marijuana before legalization will probably sell something else post legalization. I acknowledge that there are a considerable amount of concerns centered around operation of motor vehicles and individuals going to work while under the influence of marijuana. This should be treated no differently than alcohol is presently: it is not acceptable and/or legal to operate machinery or motor vehicles, or to go to your job while under the influence of marijuana or alcohol.
The side benefits are also quite substantial. The Cannabis plant can be used for a variety of commercial and industrial products. Paper, rope, soap, lotions, fuel and lubricants are all among these products. The crops grow well in the United States’ varied climates and are relatively easy to grow, making it an ideal cash crop. If the trend could be set by the United States, then other countries may follow suit. This could lead to a situation analogous to the one in the 18th and 19th centuries when America was exporting enormous quantities of tobacco. The trade deficit could be reduced by taking a progressive step forward, one executed with much forethought and wisdom, and entice the world to join us on our revolutionary quest to change the prejudices of government against its society.

Image used in this Post

Bud image courtesy of flickr user jasonawhite under the CC license.

This entry was posted in Business, Current Events, Economics, Politics and tagged cannabis, dea, drug enforcement agency, economy, gdp, gross domestic product, legalization, marijuana, taxes, unemployment. Bookmark the permalink.

[Lazie]

please tell me that is pretending yuh pretending seh yuh idiot!!!

How much of the tax collected from alcohol have to be used to treat those involved in a drink and drive accident? How much of that tax collected is used to pay emergency services each time there is a drink and drive accident? How much of the tobacco tax collected is used to treat those who have developed illnesses due to their tobacco use?

you have made a BRILLIANT argument why tobacco and alcohol should be criminalised, yet it isn't! MORE HYPOCRISY that you seem to accept! but we go one step further...

How much of that tax will have to be used to treat those who use weed to mek themselves useless?

where is this money coming from NOW?

Yuh really insisting on the hypocritical angle. Again, there are numerous issues that are hypocritical ... using it as a stool to hold up a weak argument isn't impressive.

"where is this money coming from NOW?"

Yuh nuh hear bout the pressure the health sector under? Legalising it isn't going to help, neither is the trend of making ganga smoking seems as if its cool.

Mi curious ... how many of those killers drink alcohol before going on a murderous spree? How many a dem bun weed before doing the same?

[Gamma]

ok you're not pretending. my grandfather once said that he would rather deal wid a ginnal than a fool....i see merit in his logic.

[Bricktop]

Mi curious ... how many of those killers drink alcohol before going on a murderous spree? How many a dem bun weed before doing the same?

[Islandman]

This weed thing look like it more dangerous than crack cocaine or acid?

[Lazie]

This weed thing look like it more dangerous than crack cocaine or acid?

You got that from my post?

[Bricktop]

This weed thing look like it more dangerous than crack cocaine or acid?

It's spawning killer's who go on murderous sprees. And here I thought it only caused the munchies

[Islandman]

Yes.

[Mosiah]

And how does my post indicate my position on the weed issue?

Do you get the point of my post, or yuh cyaan go dat deep?