One Million New Jobs from Marijuana?
A new report indicates one million jobs would be created in the next decade if recreational marijuana was legalized nationwide.
The Washington Post cites the report from New Frontier Data which shows in addition to the creation of jobs, legalized pot nationally on the federal level would generate at least $132 billion in tax revenue in the next 10 years.
So far, eight states, including Colorado have legalized recreational pot, while 29 states allow for medicinal marijuana use. I have said it before, and I will say it again. It's just a matter of time before pot is legalized nationally. It's a slow process, but we are on the way.
It's not that I'm in favor of an all-out green light on marijuana use, but, the possibility of billions of dollars in additional tax revenue is intriguing. Would the tax dollars help reduce government debt? Could worthwhile discontinued programs be reinstated? Could we legitimately address problems of poverty? Or would the government simply find new ways to squander hard-earned tax dollars on wasteful and frivolous projects?
I don't like to be pessimistic, but I have a feeling that the more money the government receives, the more money it is going to spend and it's never going to feel like there is "extra" money.
Besides that, we are still a long way from nationwide legalization so there's probably no need to worry about it right now. We are definitely on the road that leads there, but we are still miles away.