Study: Marijuana sales booming
A new study concludes medical marijuana is booming business.
The national debt is growing faster than hydroponic weed.
Medical marijuana, legally sold in only seven states, already has the revenue ($1.7 billion) of Viagra, a drug available everywhere there are men who like sex. The study says legal marijuana sales will likely be much higher in 5 years –up to $8.7 billion.
The study, by See Change Strategy, was released Wednesday.
You can buy a lot of Spreewells with that kind of change.
I have no idea what the market would be for legalized non-medical marijuana, but it would have to dwarf $8.7 billion, even if prices declined with increased urban farmer production.
Stephen Easton, writing for the Fraser Institute, estimates if the government sold marijuana at the current inflated street price ($10 per gram), an extra $100 billion in taxes could be sucked out of consumer pockets.
Elected officials could upgrade their $60,000 SUVs, that’s for sure.
Or, if Congress used that $100 billion a year prudently, the U.S. could pay off its national debt in just 140 annual payments.
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37 comments Add your comment
interested party
March 23rd, 2011
10:09 pm
$100 billion a year, but you should also factor in the money saved (billions, but I couldn’t put a specific number on it without further research) by not having to spend so much on law enforcement efforts to fight marijuana production, sale, and use. Marijuana is by far the most widely used illegal drug in this country, and therefore most of the taxpayer money that goes to fight “drugs” goes to fight marijuana, as opposed to cocaine, heroin, meth, etc. Of course, this is a big factor in why law enforcement groups want to keep it illegal; they would stand to lose jobs, money, and spiffy para-military equipment.
@bigdawg: while there is a black market for cigarettes (from what I hear you go to indian reservations, where they don’t impose the high taxes, buy in bulk, and then come back to your home area and sell illegally for less than the corner store), don’t forget that you can also always grow your own tobacco, cure it, and smoke it. It’s a slightly complicated process, but is completely legal as far as I know, so long as you’re not growing it to sell your own cigs. However, since it is legal to buy at the Citgo, people who must smoke are generally just going to suck it up and pay the higher cost for the convenience of not having to farm their own smokes.
Same with alcohol: I can brew my own beer or distill my own whiskey at home if I want to, for personal use. As long as I’m not not selling it to other people, I’m completely within my rights. But when I can just go buy a sixpack down the street, why bother?
With marijuana legalization, the same should apply: you can grow your own for personal use. And it’s a much simpler process than tobacco, since you don’t have to cure it or do anything to the plant besides water it, just pick the mature buds right off the plant and smoke away (or make brownies, or whatever). And honestly, that’s what a great many people would do, just grow a couple of their own plants in the back yard for their use. That’s what I would do. Sure you’ll have commercially available marijuana cigs and other pot-based products, which will certainly bring in tax revenue. But the real savings would be from not having to spend the exorbitant amounts of taxpayer dollars that we currently do on law enforcement and the military fighting a losing battle with illegal producers, distributors, and users. We can use that money elsewhere, or (radical idea!) give it back to the taxpayers.
Sadly, alcohol prohibition was so long ago that we’ve forgotten the lesson it taught us. As well, we still have too many religious Talibaptists in places like Georgia who can’t even bear the fact that we’re allowed to drink; no way they will let us responsibly consume the demon weed, in spite of the glaring fact that it is a less dangerous substance than alcohol in every possible way.
James
March 23rd, 2011
10:11 pm
Bigdawg 88,
You have good points. I think I would say that there is no black market for cigarettes because cigarettes just are not that great. Whereas marijauna posses numerous proven fun- and health-improving qualities. (:
Also I have heard the notion about marijuana being grown generally stronger than in the past. That may be true, but it probably has more to do with who you hang/hung out with now/then.
djs_nc
March 23rd, 2011
10:17 pm
excellent point on the money saved on law enforcement and prisons. that alone would make it worth it. i know a lot of cops who would love to see pot legalized. check out www. leap.cc/cms/index.php
Beck
March 23rd, 2011
10:37 pm
To the poster who wondered about drug testing at work, use some common sense. If it’s legal and they don’t want pot smokers (like some places won’t hire cigarette smokers) then don’t smoke. Or, get another job; it’s your choice.
Just as it should be everyone’s choice.
Most Despised
March 23rd, 2011
11:01 pm
What’s with all the intoxication? No matter the mechanism. Is it really an escape from anything? Really sad.
interested party
March 23rd, 2011
11:52 pm
@Most Despised:
I bet you’re just hilarious at parties.
Questioning
March 24th, 2011
12:00 am
Is this a REVENUE SHIFTING proposal? One that takes the revenue from drug cartels & street dealers to big business and government? If so, how will that affect the drug wars? And how would that issue be addressed?
At first glance it would seem that prison/jail beds would have vacancies. Thereby reducing expenses for taxpayers. Except “corrections” is big business in Georgia with the Corrections Corporation of America facilities throughout the state. Who will fill those empty beds vacated by attrition without arrests for marijuana sales/use/distribution? Winew legislation be passed – making NEW CRIMES – as HB87 does?
cardiodoc1
March 24th, 2011
1:10 am
The feds should just legalize it.. Its a natural herb from the earth, not constructed artificially.. Alcohol and cigarettes kill more people annually. If sales were legal, it would definitely help the economy out. Unfortunately, as with everything, there are consequences and repercussions that go along with it. I’m an avid smoker and all for legalization. It helps with many issues, medically, Psychologically, physically, the list can go on and on..
Mel
March 24th, 2011
1:14 am
Time to legalize it. I never hear of anybody getting stoned, getting behind the wheel of a car and killing someone. You can do that with alcohol and alcohol is perfectly legal. Marijuana is not even remotely close to being as destructive as alcohol.
US Medical Marijuana Sales Seen At $1.7B-Report – Wall Street Journal | My Blog
March 24th, 2011
2:44 am
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