Sunday, October 26, 2014

Tax Money from legalizing Marijuana



The war on drugs has been in effect for decades in Canada. While little progress has been made with regards to the fight to eliminate use and distribution of these drugs especially marijuana. This war on marijuana has landed many innocent citizens in jail or in court fighting against a criminal offence of which they have been accused. With given current social trends and economic situation, it would be in our best interest to be able to profit from the sale of a substance which the public can use for recreational and social purposes.

The State of Colorado and Washington in the United States of America have made the step to decriminalize marijuana for recreational use and allowing sale and transportation of it with some regularities. Washington State has also projected to generate about $3 million dollars’ worth of tax money over a span of 5 years through the sale of marijuana. If you think that's crazy, consider this, the state of Colorado brought in an astonishing $2 million dollars in tax from sale of marijuana within the first month!

 In Toronto alone, our approved budget for 2013 had made available about $70,000 on engineering and construction. With an additional couple million dollars, we can raise our budget for such services significantly. Taking into consideration our current road conditions, we can really use that money. That money can also be used to better train police officers and build better schools and libraries which helps to give back to the individuals of our society, the ones are paying the tax initially.


The government of Canada is also spending about $2 billion dollars annually to enforce drug laws in Canada. Legalization would significantly reduce this number also. A poll on national post also suggests that majority of Canadians are indeed in favour or decriminalizing marijuana. Marijuana has also never been known to cause aggressive or violent behaviour but has been known to help physical pain and also with eating disorders. A professor from Western University of Ontario, who is also an economist stated "legalizing marijuana makes economic sense". I also believe that the government of Canada should review its laws and innovate them in such a way that benefits the interest of our society and our economy.




Sources:


  1. http://search.proquest.com.library.sheridanc.on.ca/docview/1223390082?pq-origsite=summon
  2. http://www1.toronto.ca/wps/portal/contentonly?vgnextoid=92c11764e70e1410VgnVCM10000071d60f89RCRD
  3. http://www.cbc.ca/news/business/marijuana-legalization-would-be-tax-bonanza-prof-says-1.2596086
  4. http://www.businessweek.com/debateroom/archives/2010/03/legalize_mariju.html
  5. http://www1.toronto.ca/City%20Of%20Toronto/Strategic%20Communications/City%20Budget/2014/PDFs/Public%20Book/Net%20Gross%20Revenue%202014%20Operating%20Budget.pdf

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