Marijuana should be legalized on the basis of economists. A report titled “The Budgetary Implications of Marijuana Prohibition” by Professor Jeffrey Miron suggests that the prohibition of marijuana should be replaced with some system of regulation and taxation and this would help to save $7.7 billion annually in both state and federal expenditures on the prohibition enforcement. This would produce tax revenue of a minimum of $2.4 billion per year if it was taxed like other consumer goods. When taxed as alcohol it would generate $6.2 billion yearly. Prohibition has nominal benefits and this may cause substantial harm. There are so many people who are incarcerated yearly for offences related to marijuana and housing these prisoners is expensive and by legalizing it this would save $7.7 billion which could be used for other important purposes in the economy (Mike 23).
Legalization eliminates the arrests for trafficking and possession of marijuana. The legalization of marijuana would help to save judicial, prosecutorial and incarceration expenses. Legalization of marijuana would greatly reduce the flow of money to global criminal gangs from the American economy. The illegalization of marijuana makes the foreign smuggling and cultivation to the US extremely profitable for the overseas markets and these funds are diverted from productive economic use in America. Also, the illegality status of marijuana makes it more valuable especially to the teenagers than if it were made legal. The teenagers make easy money from selling marijuana to their teenagers but if it were legal, there would be fewer incentives for the teenagers (USDHS 43).
Marijuana should remain illegal because of several reasons that we shall discuss. Marijuana is perceived as an addictive drug and is referred to as a high potential drug for abuse which means that it could dominate the user’s life. Marijuana has no approved medical use though there are claims that it could be used; it has not been medically proven. Marijuana in the past has been linked with narcotics such as heroin. The early antidrug laws had been written to regulate the use of them and their derivatives. Marijuana is also associated with the old unfashionable lifestyles meaning it is well known to be a drug of losers and hippies. In the early 1930s, Marijuana was also associated with the oppressed ethnic groups such as Mexican Americans and this laid groundwork for the movement against marijuana because it was seen as the encroachment on the majority-white culture in the United States. Most people are comfortable with the existing status quo of that there has been a literal ban or the de facto ban on marijuana. Changing this would be very hard and devastating (Mike 45).