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October 4, 2017

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ECONOMICS OF LEGALIZATION

October 4, 2017

From a fiscal stand point, federal legalization makes sense. 

 

Colorado has seen a boon in tax revenue from recreational sales that went soaring past expectations.

 

In 2015 they added 18,005 full-time jobs and about $2.4 billion to their state economy according to an analysis by the Marijuana Policy Group.

 

Separate market research, by the firm Arcview, estimates more than $135 million was collected in marijuana taxes and fees in 2015.

 

California alone is capable of producing 13.5 million pounds of finished product. That means an estimated $20 billion in sales annually according to an economic impact assessment prepared for the state's Department of Food and Agriculture.

 

In Nevada, recreational legalization will add about 41,000 new full time jobs and a $7.5 billion to overall economic output in the state. These are positive economic impacts that far outweigh the few risks associated with marijuana.

 

Multiple government reports have states that the effects of cannabis consumption on society are negligible or even positive. Add the fiscal impact and what are we waiting for?

 

 

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