Money cannot grow on trees. This is for certain.
Tobacco, barley, and other plants ARE however, grown and used in the manufacturing of products such as alcohol and tobacco products, which continue to provide huge revenue for the government through the regulation and taxation of these products.
Yet despite the proven success of regulating and taxing these less harmful and legal drugs by the government, the possession and/or use of marijuana, continues to be a criminal offense when if legalized, it could generate both spending cut backs and generate money at the same time.
As Mike Moffatt explains in his article "Should Governments Legalize and Tax Marijuana?" its simple economics.
With a risk involved in the buying and selling of marijuana, the average profit for a unit of marijuana of $6.90 (Moffatt) exists as a "risk-premium" due to the risk involved with the business. If legalized, this risk would be gone, allowing for that profit to be dropped and money for the government to make via regulation and taxation of the plant. In addition, with the risk of getting into criminal trouble gone, the demand would likely increase for buyers.
Not only would the government earning more money through taxation and regulation, but legalization would also cut out most of the money spent on enforcing laws against people buying and selling marijuana. The "War on Drugs" is costing the U.S. billions each year. With marijuana legal, much of this money goes towards other financial costs for the country.
More than economics and revenue though, come the basic principles our country was founded on. Individual liberty and freedom has been a major foundation for anything "American", including the use of similar, if not more dangerous (but legal) drugs such as alcohol and tobacco.
The government should only have a right to limit those choices if the individual's actions endanger someone else. If treated like alcohol, and legalized, criminal activities while using marijuana could be limited to while operating a motor vehicle, etc.
With not only many economic oppurtunities for the government but a duty to the people to provide individual freedom and liberty, it only seems like a logical and tradition based decision to legalize the recreational use of marijuana.
Just consider it the money herb.
