Taxation of the Bud

By: Richard Socoy Xicay

The marijuana movement has been practically unstoppable for two decades now. Since 1996, nearly two dozen states have legalized the use of marijuana for medicinal purposes, and four states,now allow adults over the age of 21 to purchase marijuana for recreational purposes in licensed dispensaries. Marijuana is regulated for those who want to buy it and for those who want to sale it. S.E Smith argues that if marijuana is legalized will make a big difference, That will put US economy in a good spot. By legalizing and regulating marijuana a lot of tax revenue would be generated, and that money will make a difference in the US economy. The government will have money to spend in education such as building more schools giving more opportunities to students that want to go to a university. Also there will be money to spend in health care, hospitals will have more medicines and advance machines to help and support people from the community.

Marijuana doesn’t only benefit the economy, but there are health benefits as well. Just like medicines and other goods, legalization of marijuana can substantially contribute huge amount of profits, which we badly need in these economic times. Replacing marijuana prohibition with system of taxation and regulation similar to that used for alcoholic beverages would produce combined savings and tax revenues of between $10 billion and $14 billion per year. Legalization of marijuana gives the country an opportunity to save billions of dollars per year. According to Harvard economist Jeffrey Miron.

Christopher Ingraham argues that marijuana should be legalized because it will make the US better  by marijuana legalization in the country. A lot of taxes will be made by marijuana legalization and that money will be spend in healthcare and education. Christopher also gives the example of marijuana being legalized in Colorado and how helpful this has been for Colorado. crime, violence and prisoners have decreased.

Christopher talks about a very important point about marijuana being legalized in the US. Crime and violence will be less and there will more money for education and healthcare.

Christopher is not  on his argumentation also he is very confident on what he is saying about marijuana legalization and provides evidence for people to believe in marijuana legalization based on facts, he provides a positive benefit to the whole country that will bring  benefits to the whole country by believing in marijuana legalization.

           Peter Shumlin, governor of Vermont also believes in marijuana legalization he says that if marijuana is legalized he will make a regulation for marijuana in places where is already legalized and places that might will be legalized. he will make this regulation for marijuana by having protections in places to keep adolescents from buying marijuana also there will be featured taxes modest enough to keep prices low, and hence put black-market sellers out of business. he will provide tax revenue to expand addiction prevention programs and finally, ban the sale of edible marijuana products that have proven vexing in Colorado and elsewhere, at least until the state can figure out how to regulate them according to the law.

   Shumlin point is important for marijuana legalization because there is people in the country that is against marijuana being legalized and people that supports the idea. By regulating marijuana there will be a control on who can buy marijuana and who  would not be able to buy it. his plan is a positive plan that will benefit the country if marijuana is legalized just like alcohol is regulated marijuana will be if it is legalized so people that is against legalization of weed will be okay with marijuana legalization because it will be regulated and also people won’t abuse from marijuana. his critic on marijuana legalization is influential because is a way for people to not abuse from marijuana if it not used for medicine.

Ann Lininger, a business attorney, represents Lake Oswego and Southwest Portland in the Oregon House of Representatives. She co-chairs the Oregon Legislature’s Marijuana Legalization Committee. Ann Lininger says that Oregon already has been producing high-quality marijuana for decades, that a market is valued at $1 billion a year. Now that legalization is happening, more of the marijuana sales are likely to occur on the legal market and the opportunity for growth is enormous. The country’s legal cannabis sector grew by 74% in 2014, according to ArcView Market Research. Once the rest of the United States legalizes, the sector should grow to at least $36 billion. That’s larger than the organic food business and, very likely, would mean millions of jobs. Ann Lininger shows evidence that marijuana legalization will help not just one person but the entire country will benefit.

Legalization and distribution of marijuana, is still hotly debated and has been for more than a decade. However there is people that want marijuana to be legalized because is helpful as a medicine but in the other hand there is people that is against marijuana legalization people that does not smoke marijuana or use marijuana as a medicine. Legal marijuana was a $700 million dollar industry in Colorado last year, according to a Washington Post analysis of recently from the state’s Department of Revenue. In 2014, Colorado retailers sold $386 million of medical marijuana and $313 million for purely recreational purposes. The two segments of the market generated $63 million in tax revenue, with an additional $13 million collected in licenses and fees.

Oregon already has been producing high-quality marijuana for decades. Our market is valued at $1 billion a year. Now that legalization is happening, more of the marijuana sales are likely to occur on the legal market and the opportunity for growth is enormous. Our country’s legal cannabis sector grew by 74% in 2014, according to ArcView Market Research. Once the rest of the United States legalizes, the sector should grow to at least $36 billion. That’s larger than the organic food business and, very likely, would mean millions of jobs.

In conclusion, marijuana should be legalized because it is very useful in the medical profession. It will also allow for money spent on enforcement to be spent more wisely thus increasing revenue. Marijuana could generate billions annually if it were taxed and sold in regulated shops. Marijuana is the most widely used illicit drug in the United States. marijuana and legalization would address a multitude of issues in our economy, health care, and justice system.

 

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3 Comments Add yours

  1. Omari King says:

    so what percent would the taxation be and would it apply to consumers or dispensaries

    Like

  2. Amanda Levin says:

    Would this be a state tax? A use tax? I am curious where the tax money would go.

    Like

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