Could Legalizing marijuana Help the Economy?

February 28, 2009 02:28 PM ET | Paul Bedard, Alex Kingsbury
By Alex Kingsbury
FDR spent his first few days in office fixing the banks, and then he legalized beer. President Obama has buoyed the banks; what about legalizing marijuana? asks Keith Stroup, the attorney who founded the National Organization for the Reform of marijuana Laws in 1970. For decades, Stroup has argued that legalizing pot would produce mega tax windfalls, and now, officials of states zonked out by the fiscal crisis—Texas, Tennessee, Massachusetts, and Pennsylvania—are asking Stroup for the 411 on ganja green. "As smokers," he adds, "we're raising our hands and saying: 'Tax us!' "

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'nuff said!

CA is considering it for that very reason. Cali is also the 3rd largest economy so I would think yes it could. But... hopefully people wouldn't be stupid and slow production because of it. just my 2 cents

well if you think about it, would it actually help the economy?

I mean there's the much tutted positives of taxes and billions going to farmers and local shops rather then drug cartels and gangs which is good but consider the other side.

law enforcement agencies both federal and state level would lose billions in funding and that will translate into jobs. Then there's the possible pharma fall, that could mean millions or even billions lost again will translate into jobs lost. Then there's the privatized prison system. less inmates means less guards and possibly less facilities, again more job loss. Then think about all the drug testing. that's a multi billion dollar a year business. that would drop like a rock. again that would lead to even more jobs lost. That doesn't mention the reduced need for lawyers both prosecutors and defenders, and judges and other less recognized jobs that depend on the business of prohibition.

so would the potential gain out weight the loss? i'm not sure.

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Bullshit...

First off there is plenty of REAL crime to go around that could more than keep police busy if they were not focused on busting pot smokers. Sure they wouldn't seize as much property but oh well, let them start seizing property from real criminals for a change.

There are also plenty of cases to be litigated so I wouldn't go crying for the lawyers either. They also create their own mess. There have been more students in law school then there are lawyers for years now. The only thing that might change in the legal system is that people get the "speedy trial" they have a right to but don't get now.

Prisons...fuck em I couldn't care less. Maybe now they'd stop parole/early release of murders and child molesters so they can make room for mandatory minimum sentenced pot offenders. No they would not suffer at all either, they would just change the way they do business now.

Drug testing? Are you serious? I suppose you've never heard of cocaine or heroin or oxycontin or...they wouldn't miss a beat. Again maybe they lose a little business but not to the extent you claim.

It's not just billions that would go into the economy of legitimate businesses dude, it's over 100 billion a year. It could generate over 30 billion a year in taxes and those numbers are from smokable pot alone. That does not take into account any of the support industries that would benefit or any of the other industries that would be allowed to function because of legalization. Hemp and all it's uses would generate billions more.

I'm sure some people somewhere would lose their job due to the end of prohibition but I seriously doubt it would be enough to be noticeable on the economy.

Matter of fact http://www.prohibitioncosts.org/endorsers.html there you go...over 500 economists who believe we should legalize, three of whom are Nobel Laureates. Do you really think they would support a change that would be the drain on the economy you suggest?

agree with the 1s and 0s guy think about it there are so many other things they would do ..... for example before 911 a large focus of the american justice system was relatively spread throughout the different crimes in the us..... after the fact it was all about terrorism... and in my opinion and i stress my opinion when they found out they didnt know what or who to blame almost every crime was terrorist funding or terror related think about it

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There's plenty of real crime that cops could go after instead of pot, I agree with you there. The problem is from a public finance perspective the amount of these crimes don't justify the huge expenditures that pot brings to the table.

Private prisons are business. Empty cells = lost money. So if that means they have to close a few prisons to keep the remaining ones packed that's what they'll do. which in turn means that people will still be released on early parole.

oxycotin, heroin, opiates in general don't stick around in your system for more than a couple of days so testing for it at any point beyond a week is pointless and therefore not profitable. There will still be a market for those tests but they are dwarfed by the market for thc tests.

Yes, billions will be saved in tax payer's money and billions will be pumped into local shops and company X.

What i'm saying is that the economic boost from legalizing won't be anywhere near the level that people are claiming. anyway this is just food for thought.

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it will help CA because they are having to pay their teachers with IOU;s. the state is broke

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--skunK in my swisha codeine on my whiskaz--
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seriously cant even get our income taxes when we suppose to and who know is they will have the money they should to give back to us let alone the fact we borrowing 12 billion dollars raising taxes by 1 % supposably temperay and we have the highest sales tax in the contry in additon to the fact our paychecks are taxed by the state and with all these tax our schools are in last for funding in the county bull shit legalize shit and kill all the corrupt dirty polltians die aronld fucked pieace of shit never had any buissness being govenor

Right on my friend I think nothing can help the economy. Well maybe if Africa start developing. This might tho http://www.youtube.com/watch?v=LPUjR5AReBU

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