High Dreams Taxing Marijuana Essay examples - 1944 Words

High Dreams Taxing marijuana would be an asset to this country’s economy by helping them with the debts, rebuilding schools, and lowering crime rates. According to Matt Ferner of the Huffington Post, since Colorado legalized marijuana the state has made $600 million in combined wholesale and retail sales (Ferner). This can be great because the United States could pay off much of its debts. That amount of money was earned through a 25 percent tax on retail purchasing, including a 15 percent excise tax, and a 10 percent sales tax (Ferner). Another asset of taxing marijuana is that the government can give some of the money to the public. Some of this money can go to schools, hospitals, and medical treatments. The rest can go to creating new†¦show more content†¦All sales are assessed the standard state sales tax of 2.9 percent, plus there is a special 10 percent state tax and 15 percent excise tax, and there is also an extra local sales and excise tax in many cities (NBC ). In addition to sales taxes there are a couple of rules for the sale of marijuana. There is a state sales tax imposed on retail marijuana and marijuana products on top of the 2.9 on existing state sales tax which is an addition to local sales tax. According to Kelly Phillips, a contributor to Forbes stated that together with the sales and special taxes, and Phillips stated that Denver County accounted for more than half of all medical and recreational marijuana related sales tax while outside of Denver; taxes can be closer to 13 percent (Phillips). However, as the price for marijuana gets higher, Colorado will still be taxing and the state will still be making a lot of money from this drug. The majority of Americans say they prefer cutting programs to increasing taxes as a way to deal with the nation’s budget deficit (Huffington Post). Marijuana legalization would seemingly give the government money without doing either (Huffington Post). Also according to the Huffington Post, with this legalization it can improve the economy as much as 13.7 billion per year, and as the Huffington post states, â€Å"At a minimum, this debate will force advocates of current policy to show that prohibition has benefits sufficient to justify the cost ofShow MoreRelatedPresident Richard Nixon : The United State1720 Words   |  7 PagesStates’ war on drugs. It’s pretty clear that Nixon’s ideas for eradicating the country’s drug use never quite came to fruition. In fact, to be frank, it has failed pretty miserably. Today, drug abuse, drug addiction, and drug related crime is as high as ever. [source] In this research paper, I will argue that the United States’ war on drugs has done far more harm than it has done good. The senseless fight against the use of recreational drugs is hurting our nation’s economy, it is endangering theRead MoreThe Effect of Legalizing Prostitution on the Economy1359 Words   |  6 Pagesthrough the roof and nobody can find a job to support their families. Because of this banks are failing, houses are being foreclosed on and the American Dream is becoming further and further out of reach of younger generations. So while the government is continuing to go into further debt it is also trying to counter act this. They began taxing little things. Cigarette taxes have been on the rise, gas taxes, property taxes and even tanning. All these little additions do not even begin to scrape theRead MoreShould Marijuana Be Legalized By The Federal Government?1998 Words   |  8 PagesGovernment February 24, 2015 Should Marijuana be legalized by the federal government? 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With Read MoreDrug Addiction And Its Effects On The Brain4200 Words   |  17 PagesComparison Even after the Drug Court program was put in place, the prison population has continued to grow. From 1986 to 2012, the U.S. prison population grew from 400,000 to almost 1.6 million (Bureau of Labor Statistics, 2014). To put into prospective how high the drug offender prison population is in the United States, one can look at the comparison with the European Union prison population. According to the United Nations Department of Economic and Social Affairs (2000), the European Union has a populationRead MoreMacroeconomics Is Better Or Worse Than The Market1518 Words   |  7 Pagesinternational leadership in innovation and entrepreneurship.† (Shapiro, 2013) He suggested granting automatic green cards to STEM graduate students from U.S. universities and passing the Dream Act law-abiding people brought to the U.S. as children to become citizens. Another idea would be to, end the war on drugs by taxing marijuana instead of spending billions incarcerating people. Other countries like Spain who have done so have brought in a lot of revenue. Further is the idea to require unemployed citizensRead MoreAnalyzing Current Situation Of Us Economy And Comparing It With Past Years3686 Words   |  15 Pagesreplacing the low-wage economic strategy of the past 30 years with a high-wage strategy for sharing the prosperity. (Aflcio, 2013) The first step is to put America back to work. Our motive is to provide â€Å"full employment† which means everyone wanting to work should be able to work by finding themselves a decent job. (Aflcio, 2013) The second step is mainly focused on rebuilding the middle class for a matter of fact, by keeping the wages high we can enforce economic equality and also help in restoring theRead More_x000C_Introduction to Statistics and Data Analysis355457 Words   |  1422 PagesIntroduction to Statistics and Data Analysis This page intentionally left blank Introduction to Statistics and Data Analysis Third Edition Roxy Peck California Polytechnic State University, San Luis Obispo Chris Olsen George Washington High School, Cedar Rapids, IA Jay Devore California Polytechnic State University, San Luis Obispo Australia †¢ Brazil †¢ Canada †¢ Mexico †¢ Singapore †¢ Spain †¢ United Kingdom †¢ United States Introduction to Statistics and Data Analysis, Third Edition