Showing posts with label Tax Revenue. Show all posts
Showing posts with label Tax Revenue. Show all posts

Friday, January 27, 2012

The Economic Benefits of Legalizing Marijuana

The US Government spends $9Billion each year housing, feeding, Clothing, and even paying there medical bills... With 33,665 State Inmates and 10,785 Federal Inmates all on Marijuana charges... The Government needs to think about this, this one natural drug has huge potential in making some serious tax revenue... I am going to make an example of potential tax revenue with just the price of a joint which is $5.00.... If the Government was to put a $0.50 tax on that $5.00 Joint making the total price $5.50 this is not including any state sales tax that would be placed on the joint... We are going to say that there would be 8Million buyers that would come out to $4Million with just the purchase of 1 joint each... Now if they were to buy lets say 10 joints each a day that would be $40Million a day in tax Revenue... Now 10 joints a day for a full year would be $29.2Billion per a year....  I would have to say that is a number that we could sure use coming into our countries tax Revenue.... Now that also doesn't include the great Economic impact it would have on our country..... It would put $400Million a day into our Economy and $146Billion a year into our economy.... This really is something our Government needs to look into because the war on this drug will never end why can't we just let it go and make money off of it....