Economic Benefits Of Legalizing Marijuana

With the current US national debt exceeding $15 trillion and budget deficits that are increasing the debt total to the tune of over $1 trillion per year, does it make sense for the US Government to continue to spend money fighting against the use of a harmless drug, like marijuana? Would there be economic benefits to legalizing marijuana when anyone can easily buy weed online? There most certainly would be economic benefits. The benefits wouldn’t balance our budget or pay off our national debt, but they would make a considerable impact to the tune of tens of billions of dollars each year, which is a huge step in the right direction.

Cost Savings

According to statistics from the Cato Institute, expenditures for the war on drugs in 2010 exceeded $41 billion dollars between federal, state, and local authorities. Of that amount, roughly $8.7 billion can be attributed directly to marijuana. So, legalizing marijuana would immediately save us $8.7 billion dollars a year enforcing existing laws. But, that’s just the beginning.

In 2009, over 850,000 people were arrested for marijuana violations, nearly 90% of those were just simple possession charges. In other words, these people aren’t drug dealers or members of organized crime. They’re harmless marijuana users. Each one of those arrests requires processing, prosecuting, and in many cases, incarceration. All of those items are costly drains of government resources.

More than 5,000 people are incarcerated each year on marijuana-related charges, most of which are non-violent offenders. According to the State of California, it costs more than $47,000 per year to incarcerate just 1 person. That’s nearly $250 million dollars a year to keep low-level, non-violent offenders in prison. Not to mention that our prison system is currently exceeding its capacity and violent, dangerous criminals are being released early to make room for new inmates. Is this a really good use of our resources? I’d much rather have a marijuana user living in my neighborhood than a convicted rapist.

Tax Revenue and Economic Growth

Based upon current estimates of marijuana use, if it were legal and taxed at a similar rate to tobacco and alcohol, marijuana would generate $8.7 billion dollars in annual tax revenue. In addition to the direct taxation of marijuana, our economy could benefit from allowing domestic growers to produce and sell marijuana. It’s estimated that between $1.5 billion and $2 billion dollars worth of Mexican-grown marijuana is smuggled into the US each year. That money could be taken out of the hands of the Mexican drug cartels and given to American farmers. There is also a growing market for the wide range of products made from hemp in the US. These markets could easily exceed another $600 million dollars annually.

The Bottom Line

The total dollar improvement to our economy we could see by legalizing marijuana easily exceeds $20 billion dollars per year. When you include the other societal benefits, such as putting illegal, foreign producers and sellers of marijuana out of business and allowing regulation and control, it’s a win-win. Clearly, the legalization of marijuana is still a cause that most politicians don’t have the intestinal fortitude to champion. There is also a tremendous amount of misinformation in the general public regarding the dangers of marijuana use that make it a more difficult sell. However, if we could look at the subject objectively and make a rational decision about it, legalizing marijuana use could greatly help our economy.

Marijuana Dispensary- A New Job In The Offing

The society has completely changed from what it was in the old times and everything is done with the quickness of speed and agility where people want everything under their thumb and hate being bossed around on what and what not to do.

Due to this, they end up shooting themselves in the foot and take to vices like alcohol, smoking and drugs, to name a few. This has become a societal problem that needs to be looked into before others start emulating this practice that is slowly destroying mankind.

The most common of all drugs that is consumed is cannabis or marijuana would be the more popular term for it. There have been numerous concerns from parents who are helplessly watching their children’s lives spiraling out of control.

Rescue Mission

Luckily, there are innumerable rehabilitation centers around the world to handle such cases of drug addicts, who are rising at an alarming pace and therefore you will find a rehab opening up every other day.

For opening up marijuana dispensaries is also an uphill task and we are going to discuss about some important points on how to do so in a risk free way. Let us take a look at some important points regarding the issue:

  • For opening a dispensary, one has to be of age and only then can he/she be eligible to do so. The industry is in its nascent stages and is a good opportunity at a social cause
  • Substance abuse is no laughing matter so it is natural to run into legal tussle from the authorities so it needs to be regularized and only then can it be provided an official license to make it legal
  • The supplementary details on Marijuana Dispensary in Des Moines, WA has an excellent library that provides detailed information on what all things will be needed for the dispensary