US Senator Elizabeth Warren seems to be changing her tune about marijuana legalization – an issue that is expected to be front and center in the upcoming elections. She recently told the Boston Globe that she is “open” to the legalization of both medical and recreational marijuana. She was opposed to it just three years ago.
When asked about cannabis, now, the Senator said:
“I’m open to it. I think we’ve learned more. A couple of states have legalized marijuana for recreational use. Frankly, I think we ought to be learning what we can from those states.”
One of those states is Colorado, which has pulled in more than $53 million in tax receipts for recreational marijuana. The other is Washington State, which has brought in at least $70 million in tax revenue. Is Senator Warren looking at those numbers and wishing that revenue was coming into her own state of Massachusetts?
There are estimates that legalizing marijuana in numerous states would bring in billions in tax revenue, and lead to huge savings. In fact, it could lead to $13.7 billion in savings, according to more than 300 economists.
As reported by The Huffington Post in 2012:
“More than 300 economists, including three nobel laureates, have signed a petition calling attention to the findings of a paper by Harvard economist Jeffrey Miron, which suggests that if the government legalized marijuana it would save $7.7 billion annually by not having to enforce the current prohibition on the drug. The report added that legalization would save an additional $6 billion per year if the government taxed marijuana at rates similar to alcohol and tobacco.”
We all know the Fed is bankrupt, so is this the latest campaign to raise some sorely needed funds?