Marijuana-related facts that can push economies to remove bans
With marijuana freely flowing into the market, billions of dollars will begin to add to the cash flow statements of corporate and economies. Analysis of various costs related to marijuana industry, legal or illegal, has provided sufficient evidence to substantiate it.
More fundraising, revenue and jobs
With legal marijuana it will be easier to keep a track of jobs and funds raised by this budding industry like physicians, delivery drivers, dispensary operators and other dealing jobs. Like in 2011, $600,000 were raised by the Mendocino Zip Tie Program, a California’s zip tie program aimed at standardizing medical marijuana growing by charging permits. Moreover, Oakland pulled $ 1.3 million in Marijuana Tax revenue that comes majorly from medical dispensaries. Colorado also carted $5 Million from Pot Sales Tax the same year. For those involved in usage and dealing of marijuana this is more viable and stable opportunity.
Fewer people in jails and lesser prison costs
If marijuana is legalized throughout, it will pull out the bar behind the ineffectual set of criminals saving as much as $ 1 billion spent by U.S. annually on inmates locked up on marijuana-related charges. Talking about savings, the government would also save approximately $13.7 billion on prohibition enforcement costs and tax revenue. And these figures for a country that has several states with marijuana bans raised. Like in Colorado with amendment 64 of pot legalization legislation, approximately $60 million are saved. In Washington State there is estimated additional $500 Million Tax Revenue. These numbers will broadly vary where legalization has to take root yet.
Lower prices and high potential business
Economists estimate that legal Marijuana could be a $ 50-100 billion industry. Due to its heavy demand which would gain access to markets, marijuana prices could fall by up to 10 times or even more from what it is there in the gray market. Records have shown that marijuana dispensary ads also boost newspapers’ ad revenue, something just distantly related to marijuana use. The raw product in the form of crop is itself a thick bunch of gold leaves with California marijuana crop alone valued $14 billion per year
Enhanced tax revenue
Enforcing marijuana prohibition costs taxpayers $41.8 Billion a year. The reports from states like Colorado and Washington show that the legal flow generated masses of tax revenue. In Colorado, 3% of business tax revenue comes from the legal marijuana business. This illustrates the augmentation of revenues for government hence making it a lucrative option for the revenue agencies.