“Marijuana is California’s largest cash crop. It’s valued at $14 billion annually, or nearly twice the value of the state’s grape and vegetable crops combined, according to government statistics…But the state doesn’t receive any revenue from its cash cow. Instead, it spends billions of dollars enforcing laws pegged at shutting down the industry and inhibiting marijuana’s adherents.” Also in Slate: In the wake of California’s money troubles, Daniel Gross makes the economic case for marijuana decriminalization.
“So what are the numbers? A national legalization effort would save nearly $13 billion annually in enforcement costs and bring in $7 billion in yearly tax revenues, according to a study by Harvard University economist Jeffrey Miron…That doesn’t include any indirect revenues as, for example, rural farming communities grow or marijuana tourism, which has been lucrative for the Netherlands, takes off.“
The obvious economic benefits aside, it’s well nigh time to establish a sane drug policy in this country. And weed in particular is an easy call. We haven’t had a drug-free American president since 1992 (at best), and yet we still pretend that a goofball like Michael Phelps ripping bong hits is some sort of egregious sin? Time to grow up, people.