Let me preface this by saying this, I am in no way an admission or advocation of illicit drug use, but come on guys, just legalize it already. Let me preface this by saying this, I am in no way an admission or advocation of illicit drug use, but come on guys, just legalize it already.

From a purely economic standpoint, the legalization of marijuana could drastically help us reduce the national debt and it is a growing market that will bring in more and more profit throughout the years.

Harvard economics professor Jeffery Miron said that replacing the current prohibition with a system of taxation and regulation would save the U.S. $7.7 billion a year in State and Federal costs of maintaining prohibition.

It would also generate anywhere between $2.4-6.2 billion annually from taxes alone. Not to mention the fact that if the industry is privatized, it would create — or rather legalize —many jobs.

The money procured through this industry currently is illegal and while it may find its way back into the system, it is most likely staying within the drug industry.

Crime rates will also fall with the legalization. While there is no correlation between marijuana use and crime, there is crime surrounding the industry. Whether it’s a disgruntled customer or a hotheaded competitor, there have been episodes of violence that can be attributed to the illegal distribution of the cannabis plant.

With the drug industrialized, there would be laws and regulations that prevent these drastic measures from being taken.

With all the money we as tax payers are pouring into the system, we should be more aware of what that money is doing.