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Date Submitted: 05/09/2016 08:24 AM
The Financial Benefits of the Legalization of Marijuana
Emily Becker
December 9, 2013
GEN 2240-092
The Financial Benefit of the Legalization of Marijuana, by Emily Becker
The financial benefit of the legalization of marijuana is a subject that is becoming more prevalent within our society. With the national debt climbing daily, law makers are desperately attempting to find more sources of revenue. For this study, we examined the current costs of having marijuana illegal and compared those costs to the potential income and savings of legalization. The findings overwhelming proved that legalization would bring in a large revenue, as well as a huge savings. The study also brought to light many different uses for the hemp plant and the benefit would not just be monetarily but also environmentally.
Introduction
Is there a potential for the United States government to make a profit by legalizing the recreational use of marijuana? If there is a profit to be made, what is the potential fiscal impact of marijuana legalization on the current federal debt? The researcher hypothesized that legalizing marijuana will enable the federal government to have more available funds from both the sales of marijuana as well as taxes applied. The study analyzed data collected from outside sources.
Literature Review
Up until the early 1900s, marijuana was completely legal in the United States (PBS Frontline). Marijuana is the dried leaves and flowers of the hemp plant, Cannabis sativa (NIDA for Teens). Hemp originated in Central Asia, where it was cultivated as a fiber and food crop (Kew). It is extremely safe (being completely natural), environmentally friendly, and has a reproduction rate that is months not years. Materials made from the hemp plant have proven to be stronger, more durable, and have the ability to last much longer with the added benefit that it is all natural (HIA). Up until Products that usually used the hemp plant somewhere in their production...