Pot Legalization Could Save U.S. $13.7 Billion Per Year, 300 Economists Say
Your plans to celebrate 4/20 this Friday could actually make the government some money, if only such activities were legal. That’s according to a bunch of economists, and some prominent ones too.
More than 300 economists, including three nobel laureates, have signed a petition calling attention to the findings of a paper by Harvard economist Jeffrey Miron, which suggests that if the government legalized marijuana it would save $7.7 billion annually by not having to enforce the current prohibition on the drug. The report added that legalization would save an additional $6 billion per year if the government taxed marijuana at rates similar to alcohol and tobacco.
While the economists don’t directly call for pot legalization, the petition asks advocates on both sides to engage in an “open and honest debate” about the benefits of pot prohibition.
“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,” the petition states.
Strange Random Marijuana Quote:
“I used to smoke marijuana. But I’ll tell you something: I would only smoke it in the late evening. Oh, occasionally the early evening, but usually the late evening – or the mid-evening. Just the early evening, mid-evening and late evening. Occasionally, early afternoon, early mid-afternoon, or perhaps the late-mid-afternoon. Oh, sometimes the early-mid-late-early morning. . . . …But never at dusk.” – Steve Martin
- Marijuana laws: Up in smoke | The Economist (policyabcs.wordpress.com)
- How Much Could the Government Make Off Pot? (turbotax.intuit.com)
- Lawrence O’Donnell Is Delusional To Think President Obama Would End War On Drugs (mediaite.com)
- Colorado the new “ground zero” for debates over pot prohibitions and policies (sentencing.typepad.com)
- The Economics of Legalizing Pot (bigthink.com)
- Why Medical Marijuana Providers Are Opposing Legalization Efforts in Washington and Colorado (reason.com)
- Why Make Marijuana Legal? (jpr100w.wordpress.com)
- It’s Time to Repeal Marijuana Prohibition Laws (aleksandreia.com)
- Number of the Week: Legalize Pot to Make Roads Safer (blogs.wsj.com)