It’s true! Democratic State Assemblyman Tom Ammiano thinks legalizing and taxing the sale of marijuana could be the 1.3 billion dollar answer to California’s economic woes.
“The state of California is in a very, very precipitous economic plight. It’s in the toilet,” says Ammiano. “It looks very, very bleak, with layoffs and foreclosures, and schools closing or trying to operate four days a week. We have one of the highest rates of unemployment we’ve ever had. With any revenue ideas, people say you have to think outside the box, you have to be creative, and I feel that the issue of the decriminalization, regulation and taxation of marijuana fits that bill. It’s not new, the idea has been around, and the political will may in fact be there to make something happen.”
Fun Facts:
- Pot is California’s number 1 cash crop totally $14 billion annually (milk coming in a not so close 2nd place at $7.3 billion)
- In 1996 California became one of the first states in the nation to legalize medical marijuana.
- Currently, $200 million in medical-marijuana sales are subject to sales tax.
- If legislation passes, sale of marijuana will follow rules similar to the sale of alcohol, meaning those under 21 can’t buy marijuana unlike the 18 year old age limit of cigarettes.
Orange County Superior Court Judge James Gray estimates that legalizing marijuana will save $1 billion a year in prosecuting and imprisoning non-violent offenders. Others like Joel W. Hay, professor of pharmaceutical economics at USC, feel that the legislation will only cause more harm than good.
So what are your thoughts? Do you feel marijuana should be legalized or not? Is making marijuana more accessible and taxing its sale worth the the money?