This November CA has an initiative on the balot to legalize Marijuana.
Do you think this will help improve the economy in CA or will it have a negative effect?
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It should improve.
If it’s actually LEGALIZED, and not merely decriminalized, I would expect some growth from it.
You have to remember, that economic activity already exists, it just doesn’t get taxed or counted toward GDP.
It will improve. Their tourism industry will definitely get a boost as well.
I am not an economist, but I imagine that the massive generation of tax revenue and the astronomical reduction of prison/law enforcement costs (an area in which Cali has a horrific deficit) will do great things for their economy.
Depends on if dems are still in the state legislature. So it would probably be the same/.
If they regulate and tax it, more corporatism and 10X more government spending.
If they don’t, things should remain the same except I would expect the price of marijuana to go down.
Simply “Reverse Prohibition” or controlling something to get the money from it. I expect, since the government called it a “gateway drug” and “dangerous” for all those years and jailed it’s citizens for it’s possession, use, and private sale, that suddenly that same government can be believed when they want to tax it, “truth” being what fits the “facts” at the time, it seems, when “revenue” is concerned. I expect that, like Prohibition of the 1920’s, this “governement oversight” will also be administered by the Treasury Department, also… non sequitar California would rather legalize HEROIN than to drill offshore for the $2 billion annual in oil production!
It will get worse because more people will use the stuff.
My company instituted company-wide random drug testing and fired anybody who came up ‘hot.’ Workplace accidents dropped by 2/3rds and the workmanship defect rate dropped by a similar amount.
And the rest of us noticed that the people fired for failing a drug test tended to be the ‘problem child’ workers (absenteesim, late, attitude problems, etc).
Definitly improve. Marijuana is a massive massive market. Especially here in cali. It will easily get ca out of debt.
If they tax it, then CA should definitely see a large improvement.
I’m sure the economy would improve because marijuana would be the “new” cigarette-thousands of stoners buying weed for cheaper than street price, save the state and federal tax. Just the same way cigarettes are pumped out in exponential numbers from factories yet a box of 20 costs $5.00, weed would become plentiful, but over time, increasingly expensive. However, as a tax-payer I’d rather spend some of my tax dollars on my own dank for me to enjoy and not for some stupid kids to get free lunches in school or for braindead governors to replaster roads and such.