Marijuana top US cash crop
“U.S. growers produce nearly $35 billion worth of marijuana annually, making the illegal drug the country’s largest cash crop, bigger than corn and wheat combined, an advocate of medical marijuana use said in a study released on Monday.…”Like all profitable agricultural crops marijuana adds resources and value to the economy,” he added. “The focus of public policy should be how to effectively control this market through regulation and taxation in order to achieve immediate and realistic goals, such as reducing teenage access.”
I would like to see one State legalize the personal use of Marijuana and make a bundle in tax revenue from it, while reducing the number of non violent inmates in its jails. Some income can be used to treat the relatively small number of folks who have difficulty with dependency. I imagine the increase in revenues and the decline in expenses will motivate most States to do likewise.
Now all we need are an enlightened Congress and President to allow the States to make this choice.
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7 Responses to “Marijuana top US cash crop”
Here’s the full study, with a hat tip to Jacob Sullum at Reason.com’s Hit &Run Blog is here. Jacob’s take is here.
Both are a pretty interesting read. Sullum figures the excise tax projection is overblown since prices would likely fall through the floor and not be offset enough by increased consumption, but still thinks it will amount to up to “a billion or two”, has the economic benefit of enjoyment by a wider group of people, and saves on law enforcement costs from the favorite Libertarian punching bag that is ‘the war on drugs’ and more importantly it’s associated unnecessary loss of liberty for prosecuted and incarcerated non-violent pot smokers.
I’m with Paul that I’d certainly like to see this have a chance to play out. That said, I’m inclined to agree with Sullum’s skepticism of the amount of excise revenues and his endorsement regardless on legalization’s own merits, even though I don’t accept at face value his general opinion of excise taxes being an evil unto themselves.
It would be progress for the debate to be about how much tax revenues could be generated.
To me it would be dramatic just to cut in half the number of non violent inmates in prison.
Even if the amounts of income are off you would still be increasing revenues while decreasing expenses because of the reduction of prison population.
After watchng every company involved in Tobacco constantly sued and extort by legislatures, why would any company want to get involved in the production and marketing of Marijuana. The only way it would work is if the government gives the producers and markets tort liability protection much like the government has more traditionally protected alcohol.
Also, should we remember that after the end of prohibition that organized crime did not go away but just moved on to other fields. What makes anyone believe that those that grow marijuana would start working at McDonalds once it is legalized?
What makes anyone believe that those that grow marijuana would start working at McDonalds once it is legalized?
Dude, because then they’d have a quick fix for their munchies.
(Sorry, I couldn’t resist.)
I’mma go spark this blunt in celebration!
Unless something has changed recently it is legal to posses up to 4 ounces of marijuana in Alaska for personal use.
I recall they voted to re criminalize it in 1990 the states supreme court overruled the voters.