How the legalization of marijuana would affect the economy Research Paper

How the legalization of marijuana would affect the economy - Research Paper Example These positive results mostly have a direct relation to the increased income that the local government regulation of Marijuana sales have had upon their economy. In fact, if one were to keep an open mind about the issue of Marijuana legalization and its possible positive effects on a state or national economy, one will see that the pros in this instance will definitely outweigh the cons. This paper will concentrate on highlighting the positive effects that Marijuana legalization and regulation by a local state can have on its economy. The results of which will definitely astound you and make you question why the government continues to oppose the legalization of Marijuana on a national level. Our country is struggling against consistently growing unemployment rates and is buckling under the pressure of having to balance our national budget. The recent government shutdown resulted in thousands of people being furloughed without any idea as to how and when their income will resume. The se are the true struggles of the average American struggling to make a living in what was once the most powerful and economically stable country in the world. But in Obama's America, inflation is something that nobody, not even the president himself, seems to have the power to overcome. While we spend billions of taxpayer dollars every year in efforts to shut down Marijuana clinics across the nation, we kill an industry that can very well provide jobs to our countrymen and provide the national government with billions in income that can be generated from regulated sales of the plant. Consider the following information regarding the way the government treats what is considered to be a petty drug crime: â€Å"incarcerations for what are basically petty drug crimes continue to rise: â€Å"$200 transaction can cost society $100,000 for a three-year sentence. â€Å" (Erb, Kelly Phillips â€Å"Stirring the Pot: Could Legalizing Marijuana Save the Economy?†). With every state spe nding that kind of serious money on every Marijuana related arrest, it stands to reason that the country as a whole is overspending on the upkeep of each Marijuana grower / dealer in the country when that money can very well be allocated to more serious costs such as housing, healthcare, etc. While Washington remains oblivious to these facts, there have already been 16 states within the union that has come to see the potential benefits that the legalization of Marijuana can have on their local economy. Taking a page out of the prohibition era when alcohol was banned thus creating an underground economy that boomed without the government getting its fair share in terms of taxes. However, legalizing the use of Marijuana for medical and recreational purposes has its economic benefits as the states of Alaska, Arizona, California, Colorado, Delaware, Hawaii, Maine, Michigan, Montana, Nevada, New Jersey, New Mexico, Oregon, Rhode Island, Vermont and Washington have come to realize. Follow ing in their footsteps, twelve more have similar legislation pending: Alabama, Connecticut, Idaho, Illinois, Kansas, Maryland, Massachusetts, Missouri, New Hampshire New York, Ohio and Pennsylvania (Erb, Kelly Phillips â€Å"Stirring the Pot: Could Legalizing Marijuana Save the Economy?†). These are the states that have woken up to the fact that there is money to be made from government regulation of Marijuana. States