Entry #1: First Few Things I've LEARNED

Some economists (around 500) proposed a bill and signed a petition arguing for the legalization of MJ in the U.S. and how taxing would bring tremendous profit to Federal and State governments. Their report was called "The Budgetary Implications of Marijuana Prohibition" (June, 2005).The report estimates that "legalizing marijuana would save $7.7 billion per year in government expenditure on enforcement of prohibition. $5.3 billion of this savings would accrue to state and local governments, while $2.4 billion would accrue to the federal government... [Also], marijuana legalization would yield tax revenue of $2.4 billion annually if marijuana were taxed like all other goods and $6.2 billion annually if marijuana were taxed at rates comparable to those on alcohol and tobacco. "