Sullum on marijuana
In his piece, Would Legal Marijuana Mean an Excise Tax Bonanza?,
Jacob Sullum tells us reformers have it all wrong. He says the exicise taxes won't be the economic boon it's being painted to be, and reformers would do better to focus on the savings in law enforcement. Since Sullum really did "write the book" on legalization, I tend to listen to what he has to say.
I think we've been doing that here already pretty much already. But I do think the tax benefits should also be taken into account. It's not just the excise taxes on the product that will create a postive tax flow, but also the businesses that will spring up to deliver the product will pay taxes on property and they will create employment, providing spendable income which would radiate into the larger economy. The wide ranging effects are almost all positive.