Kronicles
"THE #1 KING KLICK NEWSOURCE!"
Saturday, April 25, 2015

Search form

Over 300 Economists Agree: It’s Time to Legalize Marijuana

 

(Source: NORML.org) Over 300 economists have signed on to an open letter to the President, Congress, Governors, and State Legislators asking them to allow this “country to commence an open and honest debate about marijuana prohibition.” The petition states that the undersigned “believe such a debate will favor a regime in which marijuana is legal but taxed and regulated like other goods.”

Notably, three of the economists who have already signed on are Nobel Laureates. Three hundred plus additional economic scholars have already signed on, you can view the list and more details here. Full text of the petition letter is below:

We, the undersigned, call your attention to the attached report by Professor Jeffrey A. Miron, The Budgetary Implications of Marijuana Prohibition. The report shows that marijuana legalization — replacing prohibition with a system of taxation and regulation — would save $7.7 billion per year in state and federal expenditures on prohibition enforcement and produce tax revenues of at least $2.4 billion annually if marijuana were taxed like most consumer goods. If, however, marijuana were taxed similarly to alcohol or tobacco, it might generate as much as $6.2 billion annually.

The fact that marijuana prohibition has these budgetary impacts does not by itself mean prohibition is bad policy. Existing evidence, however, suggests prohibition has minimal benefits and may itself cause substantial harm.

We therefore urge the country to commence an open and honest debate about marijuana prohibition. We believe such a debate will favor a regime in which marijuana is legal but taxed and regulated like other goods. At a minimum, this debate will force advocates of current policy to show that prohibition has benefits sufficient to justify the cost to taxpayers, foregone tax revenues, and numerous ancillary consequences that result from marijuana prohibition.

You can view media coverage of this effort here.

Tags: 
Category: 

Share

Speak Your Mind...

Tweet Nuggs

therealdloc: @thekottonmouthkings flowing like water...Www.kottonmouthkingsmerchandise.com enjoy the view my friends..... http://t.co/RqwoOyKQUz
kottonmouth: ♫ Just Announced: Agoura Hills, CA - Jun 20 at The Canyon http://t.co/akivBeiWOp
therealdloc: @stonetownbuds Time to get supremely baked! #StonetownLivin #WelcomeToStonetown #420 my posse goes hard!!! http://t.co/M5JFjWDXSl
therealdloc: Goo goo gaga!! got my dads hat on and it feels big but he said it looks good on me - Mom says I'm even I'm... http://t.co/Vej7xvJpBk
therealdloc: #georgegmack having some fun the local hills...no dumping... this dude gets so pumped when he is out running down... http://t.co/YtBJ8Kvqan
kottonmouth: KMK Update from the road http://t.co/GlwNc9Jucq