Joseph Cordes circulated this story from the Fiscal Times today: Why Legalizing Marijuana Is a Smart Fiscal Move. This was my position when it was on the ballot, and sadly failed, in California, and it’s the Danish model, I believe: have it legal, tax the hell out of it, use that money for any number of pro-social purposes.
I am doubtful that the legalization of marijuana or any other currently prohibited drug is likely at the federal level any time soon. There is no movement in Congress to do so and politicians such as former New Mexico governor Gary Johnson and Baltimore mayor Kurt Schmoke who supported the idea got nowhere. It will happen at the grass roots level in states that permit voters to propose initiatives and at the federal level only after we have enough years of experience to have a good understanding of the consequences. It may take another 20 years, but eventually it will happen. – See more at: http://www.thefiscaltimes.com/Columns/2014/01/03/Why-Legalizing-Marijuana-Smart-Fiscal-Move#sthash.QFatkN5Z.dpuf
I don’t know–I actually disagree here. If there is one thing that prompts policy diffusion over Puritanical disapproval, it’s when broke government agencies see how much money other governments are raking in by giving in to sin. See: the lotto.Read More »