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In 2019, the US gained a total of 1.7 billion dollars in tax revenue due to the legalization of marijuana. In 2021, that number more than doubled to 3.7 billion dollars. [14] The increase in tax revenue being a driving factor in the legalization of marijuana is similar to the effects of the repeal of prohibition.
Making marijuana legally available to adults on more or less the same terms as alcohol would tend to reduce crime, certainly by greatly shrinking the illicit market and possibly by reducing alcohol consumption via substitution if smoking marijuana acts, on balance, as a substitute for drinking alcohol rather than a complement to it since ...
Due to reduced law enforcement activity and prison costs associated with marijuana-related crimes, the bill would reduce federal expenditures by hundreds of millions of dollars, according to the New York Times. The Congressional Budget Office (CBO) estimates that the bill would reduce the deficit by almost $3 billion over ten years. [6]
But advocates for marijuana legalization hope a federal regulatory shift could eventually change the minds — and votes — of some state policymakers who have been reluctant to embrace weed.
The legalization of marijuana can open up the possibility to regulate it. That regulation implies the opportunity to tax the drug, and it also makes law enforcement easier.
As Reason 's Jacob Sullum recently detailed, Vice President Kamala Harris and Minnesota Gov. Tim Walz both support marijuana legalization, although Harris is a Johnny-come-lately to her position.
The DEA argues "Legalization has been tried before—and failed miserably. Alaska's experiment with legalization in the 1970s led to the state's teens using marijuana at more than twice the rate of other youths nationally. This led Alaska's residents to vote to re-criminalize marijuana in 1990." [32]
A February 2021 study published in the Journal of Studies of Alcohol and Drugs concluded that increases in marijuana use among California youth were attributed to legalization and that these ...