The legalization of Cannabis in USA is something that has been in discussion for the longest period of time. However, there are a number of economic reasons that go to show why cannabis legalization is something that may end up making a lot of sense. If you were to have a look at cannabis in terms of how much money can be brought it, below are some of the economic reasons that show why going for this idea is bound to come with numerous benefits.
- It is able to raise the substantial amount of the revenue that is coming in for either state or federal governments
The most important thing that needs to be understood first is that the legalization of Cannabis in USA is able to put in a lot of money into the different pockets of federal governments and individual states. According to statistics that were carried out, it was found that this legalization would bring about a total of $131.8 billion in taxes if it is to be collected between the year 2017 to the year 2025. There are so many benefits that can come with choosing to go with this kind of decision. Also, the money that is made in taxes is bound to be highly beneficial especially to the federal government and the states that are involved.
- It is a way of creating more jobs
The legalization of Cannabis in USA would have a great and positive impact on the economy in that it is going to bring about a boom in the creation of jobs. The same study that was carried out found that this legalization successfully going through to the year 2025 would lead to a total of 1.1 million jobs that are going to be created. Wondering where these jobs are going to come from? Well, this is going to be from the need to hire workers who are going to be put into direct contact with the marijuana plant. There will be a need for processors, distributors, farmers and even retailers.
- Investors will be able to benefit from its long-term growth
Another economic reason as to why there should be the legalization of Cannabis in USA is the fact that investors will be able to be put on track which in turn will ensure that they are able to retire in the most comfortable manner. However, as much as cannabis growth is also bound to have its own pitfalls just like any other industry, the main point here is that the longer cannabis remains to be illegal, investors are still unable to take advantage of the huge growth potential that cannabis has.