Legal Pot Becomes Lucrative

by Nao Emzed on September 16, 2015 - 6:13pm

The legalization of marijuana is a very actual topic of conversation now in Canada. Moreover, as it might be an electoral issue in period of federal election campaign, more and more of us are interested to hear the various opinions of the parties on that subject. Therefore, I've decided to write my blog entry about pot's economic impact in Colorado, one of the American states that legalized the purchase and sale of marijuana since November 2012.

It seems like this economic activity is very profitable, both to the sellers and to the state government. In Colorado, a 25% tax is applied and the state therefore estimated a revenue of 40 million dollars for 2015. However, the specialists were wrong and underestimated the economic importance of pot. According to BBC's statistics, the state of Colorado collected more than 70 million dollars since January. To thank the consumers and to encourage this economy, a tax-free day was declared next Wednesday (however, the regular shop tax of 2.9% and taxes on medical marijuana will remain applicable). According to Fox31 Denver’s reports, consumers might save about 20$ on a 200$ ounce purchase. As Tim Cullen from the Colorado Harvest Company says: "We've seen the numbers down the last couple of days in the stores. People are waiting for the tax-free day. We're ready for it. The store is fully stocked and staffed. I think a lot of people will show up."

To conclude, maybe this brings a new argument in favor of the Canadian legalization of pot. Numbers now show that such political decision would definatelly give a major economic boost to our society. Maybe it will be us, only teenagers at the moment, who will later ponder that question in Ottawa.

http://www.bbc.com/news/world-us-canada-34272291

 

Comments

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I was not aware of this issue before reading your post and found it very interesting. Legalizing marijuana in Canada?The blog posted by Nao Emzed on September 16, 2015 talks about the legalization of marijuana and the positive impact marijuana might have on the country (economic growth for the government). The author provided the example of the state of Colorado, United States that is booming economically after legalizing marijuana. The ethical dilemma is whether legalizing marijuana for economic purpose is right or wrong. Using Kant’s Categorical Imperative, it would be demonstrated why is wrong, unethical to legalize marijuana for economic purpose.According to Kant Categorical Imperative, part of the Deontological theory “a person should other people as having intrinsic value, and not merely as a mean to achieve as one’s end.” The Canadian’s government legalizing marijuana would make more through taxes. Legalizing means making something lawful to possess, which endangers all citizens of different ages and the society in general for most people (families) know the effects of marijuana use. Marijuana users would be addicted, families would be devastated while the government would be making money:this is treating the citizens as citizens as a mean to an end (using them to make money), and not giving the value they deserve. It is definitely unethical.

I'm glad you addressed the issue of legalizing Marijuana in Canada, ever since the state of California legally allowed the use of cannabis, many people have been involved in this highly controversial issue. You bring up some really good points that I agree with and find quite interesting. Although many negative consequences come from the use of Marijuana, people have no problem getting their hands on it regardless of its legality. In terms of ethics, the legalization of Marijuana in Canada would be an example of of utilitarianism. Utilitarianism is when one achieves the greatest good by maximizing "utility" or what is most useful for society (https://en.wikipedia.org/wiki/Utilitarianism). Legalizing Marijuana would not affect the drugs harmfulness, it would in fact be used to benefit the country in terms of economy and health. Like you mentioned in your post, it would be a profitable economic activity for both sellers and buyers, it would also create jobs, lower government spending and create a larger tax base for the country. In terms of health, medical Marijuana would become an "over the counter drug" making it easily accessible for people with common illnesses. Both economic and health impacts related to legalizing Marijuana would create the greater good for the most amount of people living in Canada.

I can agree to why the legalization of cannabis is worth the debate. Canada's economic struggle has reached record breaking statistics as the dollars plummets and many sectors are suffering. While the different Canadian parties are gearing up for elections no one seems to have any idea to solve the Canadian crisis. Cannabis can be a new platform that puts us back on the map. Opening up new commerce, new job opportunities, not to mention interstate and foreign trade, export and import. There are many benefits to opening up this new platform that can create attractions and boost our economy, We can take for example Amsterdam that has had tremendous success with the legalisation of cannabis. You gave the example of underestimating the initial income at 40 million when it in fact came up to 70 million, shows that there is room for growth. We haven't even gotten into the medical aspects, something as important as seizures in children, cancer patients undergoing chemo, anxiety etc. can be helped by this. Although profit is never a summum bonum , Utilitarianism dictates that the good of the many out way the good of the one or the greatest good for the greatest number, https://en.wikipedia.org/wiki/Utilitarianism , in other words the outcome of something like the legalisation of cannabis can help many people in different situations and therefore that out ways the negative aspects, which are few to begin with. Where happiness, pleasure and health are in play, Utilitarianism is the way. Push for legalization !