The Marijuana Debate: do we follow Colorado?
The debate surrounding the legalization of marijuana in the US has picked up pace due to the recent results of the Colorado Marijuana experiment, in which the substance was legalized in January in order to see what the economic and social impact would be. Crime rates have lowered and the revenue generated from tax and licensing is predicted to reach $100 million within a year. However, is the approach to this legalization all too commercial? If we proceed with legalizing marijuana in the same manner we did with alcohol after prohibition, will it become just another commercial tool for the government to exploit the public?
How would marijuana make the government money?
As with everything, the government is able to tax alcohol and they can increase or decrease this depending on their needs. For example, recent budget cuts have resulted in states, such as Maryland, raising the sale tax rate on alcohol by 3% in order to increase revenue.… Read the rest