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| Benefits Of Legalization and Taxation Of Cannabis 14/08/2009 | Darren Monie
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| Benefits Of Legalization and Taxation Of Cannabis |
| Friday, 14 August 2009 00:00 |
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During these unpredictable times of economic stress the government may be required to look to nontraditional sources of taxation for relief. Legalizing the production and use of Cannabis has become a hot topic nationwide and shows promising results for economic stimulus. The use of marijuana, both medically and recreationally, has increased nationwide. Taxation of such usage could bring about major economic growth as well as relieving the burden law enforcement bears policing a drug that is practically everywhere. Statistics from other countries can provide us a window into the economic benefits of the legalization and taxation of Cannabis. Cannabis has been illegal since 1937 when congress passed the Marijuana Tax Act, which placed marijuana in the same category as cocaine and opium. Although many proponents of legalization believe this law was supported by the timber industry after it was discovered that hemp products were poised to replace timber as an alternate source for paper and cloth. President Nixon strengthened this law in 1970 when he signed the Comprehensive Drug Abuse and Control Act. This law consolidated more than fifty drug laws into one. Recently, Oakland voters sent a message to the nation that cannabis is better treated as a legitimate, tax-paying business than as a cause of crime and futile law-enforcement expenditures. Oakland voters said "yes" to Measure F by a margin of 80 percent to 20 percent, which asked: "Shall City of Oakland's business tax, which currently imposes a tax rate of $1.20 per $1,000 on 'cannabis business' gross receipts, be amended to establish a new tax rate of $18 per $1,000 of gross receipts?" The city estimates that the measure will raise $294,000 in additional tax revenue in 2010 and more in future years. Some say the measure will provide funds to help offset the city's current $83 million deficit as well as allow police to direct their limited resources to more serious crimes and drug offenses.1 Ian Mulgrew is legal affairs columnist for the Vancouver Sun and the author of Bud Inc.: Inside Canada's Marijuana Industry. His book is an eye-opening account of the nation's most valuable agricultural product -- worth at least $6 billion a year at wholesale prices -- and a convincing argument for its legalization.2 The possibility for economic growth to the United States is staggering considering nearly twenty percent of the current population uses marijuana illegally. The legalization of marijuana would create jobs and business opportunities, generate taxable revenue and provide a much needed influx of money to the economy. The eyes of the nation will be on Oakland for the near future to see if the revenue generated from the taxation of the sale of medical marijuana will provide the much needed economic growth for one city. Nearly $300,000 a year is what is expected to be made from the new law annually. Currently there are fourteen states that have a medical usage law and several more are poised to adopt the law themselves. Even the current Federal Government has taken a "stand back" approach and will not be conducting raids of the states' licensed "pharmacies".
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  written by Juan , September 27, 2009 Using as a spring board the new URTAK technology to built up collaborative public opinion, the DUD project has as its object the creation of a public space where any interested party may give his/her opinion about the wide world of impact of illicit and licit drugs, as well as to ask what occurs to you as concerns this topic and to follow the statistics of every question. Please give it a try and help us to spread the word: www.urtak.com/u/dud Best Wishes, Juan Álvarez (editor: \n This e-mail address is being protected from spambots. You need JavaScript enabled to view it '> This e-mail address is being protected from spambots. You need JavaScript enabled to view it ) Using as a spring board the new URTAK technology to built up collaborative public opinion, the DUD project has as its object the creation of a public space where any interested party may give his/her opinion about the wide world of impact of illicit and licit drugs, as well as to ask what occurs to you as concerns this topic and to follow the statistics of every question. Please give it a try and help us to spread the word: www.urtak.com/u/dud Best Wishes, Juan Álvarez (editor: \n This e-mail address is being protected from spambots. You need JavaScript enabled to view it '> This e-mail address is being protected from spambots. You need JavaScript enabled to view it ) Write comment
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