Econintersect: After 16 states legalized marijuana for medicinal purposes, two states (Colorado and Washington) have legalized pot for recreational use for those over 21. The city of Portland, Maine has also legalized MJ and the entire state is expected to follow suit next month. Several other states have legislation pending to enact the end of marijuana prohibition.
Video follows the Read more >> jump.
Extrapolating the numbers from Colorado and Washington, Econintersect calculates improved state and local government finances if the pot prohibition was ended nationally:
- Reduced law enforcement and criminal expenses around $600 - $700 million.
- Increased tax revenues $12 - $14 billion.
Debra Borchardt brings the marijuana story from TheStreet.com in this 2 minute video:
Pot States Growing Like Weeds (TheStreet.com, 06 December 2013)