Is Marijuana the Answer to California’s Budget Woes?

Watch the Time video.

Proponents of marijuana legalization have advanced plenty of arguments in support of their drug of choice: marijuana is less dangerous than legal substances like cigarettes and alcohol; pot has legitimate medical uses; the money spent prosecuting marijuana offenses would be better used for more pressing public concerns. [Time]

Thirteen states permit the limited sale of marijuana for medical use. Polls show a steady increase in the number of Americans who favor legalization. Federal law still bans the cultivation, sale or possession of marijuana. Feds still classify marijuana as a Schedule I drug, one that has no “currently accepted medical use” in the U.S. Fifty-six percent (56%) of the state’s registered voters support legalizing and taxing marijuana as a way of offsetting some of California’s budget deficit.

Advocates for legalization say that if state or local governments could collect a tax on even a fraction of pot sales, it would help rescue cash-strapped communities. Not surprisingly, the idea is getting traction in California, home to the nation’s largest supply of domestically grown marijuana (worth an estimated $14 billion a year) and biggest state budget deficit (more than $26 billion).

Democratic state assemblyman Tom Ammiano has introduced legislation that would let California regulate and tax the sale of marijuana. The state’s proposed $50-per-oz. pot tax would bring in about $1.3 billion a year in additional revenue.

If the state legislature doesn”t act, perhaps California voters will. One group is preparing to place a statewide initiative for the November 2010 ballot that would regulate and tax the sale of marijuana for Californians 21 years of age and older. [Tax Cannabis 2010]

Even Governor Arnold Schwarzenegger is asking for a study about legalizing marijuana. He said:

“I think it”s time for a debate,” the governor said at a news conference. “I think we ought to study very carefully what other countries are doing that have legalized marijuana and other drugs.”

I haven’t heard anything about Nevada Governor Jim Gibbons calling for a study. But then he is sort of in a coma, planning his re-election. Considering Nevada and Nye County’s financial problems they would be prudent to start looking at a marijuana tax themselves. But then Nevada seems to be last or close to last on anything progressive.

Related posts:

1. Oakland approves taxing marijuana
2. Marijuana for medical purposes will no longer be prosecuted by the feds
3. Legalize marijuana, regulate and tax it
4. Californians pushing for taxing of marijuana
5. 2012 Ballot Initiative to Tax and Regulate Marijuana in Nevada on Wednesday