A budget cure: Marijuana taxes?
In this desperate economy, some argue that legalizing and taxing marijuana could plug multibillion-dollar holes in federal and state coffers. By John Dyer, MSN Money Daniel Stein says the salvation of US taxpayers could be marijuana. As Washington breaks the bank on Wall Street bailouts, President Barack Obama’s stimulus package and other spend-now, pay-later measures, most observers agree that politicians will eventually need to increase revenue or cut spending to cover the federal government’s debts. Stein believes Washington could begin to balance its books now if politicians would take a serious look at his industry. The owner of two retail outlets that he claims generate $1 million in revenue annually, Stein says he pays around $80000 a year in sales taxes to the state of California. But the federal government, which does not acknowledge Stein’s sales as legitimate commerce, gets nothing from his business. Sound odd? Not if you know that Stein sells marijuana. See inside a cannabis dispensary In fact, because federal authorities have spent time trying to close his and other medical-marijuana clubs, Washington is losing money on him. Imagine how much the feds would save if they stopped cracking down on sellers, Stein says. Lawyer: Why US should legalize pot “Cannabis is good for the economy,” he said. “It’s been here the whole time, but it’s had a bad rap the entire time.” As more people begin to see the merits in Stein’s logic, that bad rap is changing. While …
@MetalBassjunkie420 That’s the how, not the why :
@boxant Commerce clause under the US Constitution.
@getbked What else is new? You voted one of the one parties (Demopublicans), so what did you expect?
@xmikeox Currently no one gives a damn about the economy. If they did, they wouldn’t shop at Walmart.
I’m seeing those prices and thinking I’d rather go to a street dealer. Get prices where they should be and I might do it.
And wtf, no swearing? zzzzzzz
Id rather smoke Pot to deal with my pain than take drugs that are filled with unknown chemicals that can damage the body.
i think the problem is if marijuana is legalized no one will give a damn about the ecomomy
Obama letting me down :/
As a nation we currently spend roughly 42 billion dollars a year to fight the war on marijuana. Include that number with the tax revenue that could be generated and we are talking enuff money to seriously plug some budget deficits. Will it balance the budget… no but states like California could avoid firing teachers and other important government jobs.
Legalizing marijuana will NOT produce the tax revenues necessary to plug budget deficits. The fact of the matter is that local, state, and federal governments need to cut spending if they want to balance their budgets. That said, legalizing marijuana would have positive effects on the economy. More higher-paying jobs would be created as a result of legalizing marijuana, thereby increasing overall economic prosperity.
Definitely true. How can they get as much or more next year if there’s a saving left this year. gotta throw it away & say more more. I’d be willing to play on thier greed & pay for my freedoms back even though I agree with you & also think the taxes they are talking are excessive. It still beats the heck out of what we have been living for some time now of fear & giving up freedoms to supposeably make us feel safer. I want some of my freedom back even if I have to pay for it to a wasteful Gov.
I feel high just watching this.
But seriously, why is it still illegal, makes no sense at all.
why?
Bet, this will be a bad thing.
i believe this is really thought out and actually credible. cannabis CAN open up opportunities for those without work. medicinal gains and economical gains are both thinds we truly need right now. I guess it seems that the government is scared to consider the option because then they would have been proved to be wrong for all the time and money they spent trying to prohibit it…
* open and honest
I think it’s incredibly ridiculous that our government WILL NOT be open honest about cannabis (in all it’s forms) and the potential it holds economically.
How irresponsible do they need to get with our money before they consider the real green option?
Maybe once all the black gold is sucked from our planet we will wake up.
…On the other hand, I’ve never seen too many people who were productive when they’re stoned.
Sorry but no swearing – comment removed.
Big Fatty at 0:27
I’ve tried marijuana…and I like it.