The Economics of Marijuana Reform
Almost everyone has heard of the ongoing debate in California about whether or not to legalize and tax marijuana. People for legalization stress the added tax revenue marijuana could bring, as well as the money saved by not arresting and imprisoning nonviolent marijuana offenders. They realize that pot is already easy to obtain and that a significant percent of the population is already smoking it. In fact, the 2008 National Survey on Drug Use and Health found that over 102 million Americans, or 41 percent, have smoked pot during their lifetimes.
Opponents claim that the harm caused by legalizing marijuana, a mind altering substance, will far outweigh any possible tax revenue. They cite more children using it; more people driving under the influence causing more accidents, injuries and death; and less worker productivity. They also claim California would still have a thriving black market.
The public opinion regarding pot has changed drastically since the days of Reefer Madness. Our last three Presidents: Bill Clinton, George W. Bush and Barack Obama have all admitted to smoking weed (whether or not they’ve inhaled is another story). It has been almost fifteen years since California decriminalized medical marijuana and President Obama has made it clear to Federal Prosecutors that he doesn’t want them wasting their time with medical marijuana arrests. California has recently polled 56 percent in favor for legalization, and it looks like the 2010 ballot will see some sort of marijuana reform.
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