Home > Article > Pot Legalization Could Save U.S. $13.7 Billion Per Year, 300 Economists Say

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.

That’s as much as $13.7 billion per year, but it’s still minimal when compared to the federal deficit, which hit $1.5 trillion last year, according to the Congressional Budget Office.

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.

via Pot Legalization Could Save U.S. $13.7 Billion Per Year, 300 Economists Say.

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

Enhanced by Zemanta
Advertisements
  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: