Legalization of Marijuana in Arizona Essay Example | Topics and Well Written Essays - 500 words

Legalization of Marijuana in Arizona - Essay Example Currently, taxation on Alcohol and Cigarettes has been beneficial for the federal government. Solely $9 billion are gained annually through the excise tax on alcohol and $25 billion through cigarettes. States collect approximately $5.5 billion through alcohol taxes. There are certain shortcomings in the system due to which legitimate amount is still not collected. Collection of the exact amount of money through taxes on alcohol and cigarettes would gather billions of dollars. Strong legislation and adequate measures for the collection of tax on marijuana will definitely help Arizona to accumulate billions of dollars. Legalization of marijuana should be done in such a manner that high taxes are applied to it. There is not the much abundant supply of marijuana in the country and it has been sold in the grey market at a high price. Eventually, legalization of marijuana and quotation of high prices would basically discourage people to spend money on it. At the same; tax collection throug h it would be advantageous. The legalization of marijuana would promote its usage in the country but due to high prices, people would not be able to purchase it which would be ultimately positive. Most of the users of Marijuana are teenagers, high prices would change their purchase behaviors and sales reduction would be seen. Legalization of marijuana would also enable State to keep the record of demand and supply, which is fundamental for economics and finance division of Arizona. The sale and purchase mechanism of marijuana is still prevalent beneath the table and it involves drug dealers, criminals, and mob gangs. Due to legalization, these unlawful business operators would get out of their hubs for business. Their presence in the market would basically escort police officials to find the culprits of smuggling and illegal trade. By catching these individuals, the economy of the country and state would rise as grey market and smuggling has destroyed nation’s economy.