Marijuana is a drug made from the cannabis plant. Under new legislation in the state of California, marijuana businesses will be allowed to sell the drug for profit, and the farmers will be able to grow an unlimited amount of plants. This legislation is expected to take effect in 2018 if it is passed by voters this coming November.There would be a "state excise tax on retail sales of marijuana equal to 15% of sales price, and state cultivation taxes on marijuana of $9.25 per ounce of flowers and $2.75 per ounce of leaves." However, medical marijuana would be excluded from some taxes. Only adults would be allowed to use marijuana recreationally.
The new industry of marijuana will be very large scale with massive amounts of farming.
Marijuana is considered part of the hippie culture of California, but small businesses may be pushed out by larger corporations. The annual tax revenue from marijuana is predicted to be millions, and the profits for companies in California are predicted to be much larger than those of the states already allow recreational use, Colorado and Washington. "Medical marijuana sales in California hit $2.7 billion last year, accounting for nearly half of all legal marijuana sales in the country."
The Southern California desert's property value has tripled as people rush to purchase land where marijuana growth is permitted. However, banks are forbidden from doing business with marijuana companies.
Based on what I have read so far, I think that the passing of this new legislation to legalize the recreational use of marijuana for adults will be beneficial for our economy. It will create a new industry and a new source of revenue for the government. Adults are expected to be responsible for themselves, so they should be able to decide if they want to use marijuana recreationally. I think it is similar to the situation with tobacco. Only adults can purchase it and there will be higher taxes on it. I do not think that it will endanger society if it the legislation was to be passed because people can already get it on the black market. Also, its legalization may lead to less usage of marijuana, for non medical purposes, as the lack of the illegal factor takes away some thrill. Moreover, the legalization may decreased the number or people arrested for possession of it, thus decreasing the overcrowded prison problem.
Questions:
Do you believe that the new legislation legalizing recreational marijuana is a good thing?
Are California's efforts to end the black market for marijuana valid or do you believe that the new legislation with make the drug more destructive to the general public?
With the predicted widespread use of marijuana come true and persist for decades to come or is it simply a fad that will evaporate?
Will you vote yes to allow recreational use of marijuana?
http://www.nytimes.com/2016/04/12/us/in-california-marijuana-is-smelling-more-like-big-business.html?ref=todayspaper
https://ballotpedia.org/California_Control,_Regulate_and_Tax_Adult_Use_of_Marijuana_Initiative_%282016%29
