That they take the taxes out first. Otherwise the stoners will forget and spend it on muchnies.
All the discussion about the economic effect of Marijuana legalization seems centered around the tax benefits and savings in police, legal, and incarceration expenses. That argument alone was enough to convince Milton Friedman and 500 other economists — including two other Nobel Laureates — to endorse the Miron report favoring legalization.
It’s a powerful argument, and I’ll be referring to it. But in today’s economic climate, there’s an even more powerful economic argument that, afaik, nobody’s making. Marijuana legalization, over and above the revenue benefits, would provide a strong economic stimulus without the necessity for a New Deal type program.
It is a good read, despite his belief that tax cuts aren’t an effective stimulus. Give it a perusal.
My only objection would be what I mentioned in the opening sentences. But if they run it like they do at the state level the way they do alcohol and cigarettes, I’m giving this idea two thumbs up.