Marijuana Legalization Could Save U.S. $13.7 Billion Per Year, 3 - Spokane, North Idaho News & Weather KHQ.com

Marijuana Legalization Could Save U.S. $13.7 Billion Per Year, 300 Economists Say

Posted: Updated:

HUFFINGTONPOST.COM - Your plans to celebrate 4/20 this Friday could actually make the government some money, if only such activities were legal. That's according to a bunch of economists, and some prominent ones too.

More than 300 economists, including three nobel laureates, have signed a petition calling attention to the findings of a paper by Harvard economist Jeffrey Miron, which suggests that if the government legalized marijuana it would save $7.7 billion annually by not having to enforce the current prohibition on the drug. The report added that legalization would save an additional $6 billion per year if the government taxed marijuana at rates similar to alcohol and tobacco.

That's as much as $13.7 billion per year, but it's still minimal when compared to the federal deficit, which hit $1.5 trillion last year, according to the Congressional Budget Office.

While the economists don't directly call for pot legalization, the petition asks advocates on both sides to engage in an "open and honest debate" about the benefits of pot prohibition. click here to read more

  • Most Popular StoriesMost Popular StoriesMore>>

  • Man Identified In Fatal Crash Friday Morning On Bowdish Rd.

    Man Identified In Fatal Crash Friday Morning On Bowdish Rd.

    Friday, April 18 2014 4:13 PM EDT2014-04-18 20:13:11 GMT
    SPOKANE, Wash. - The man killed in an early morning crash on Friday has been identified as 34-year-old, Alejandro E. Apodaca. Just before 12:30, Apodaca crashed his car on S. Bowdish Rd. He was traveling South on Bowdish near 17th when he lost control of his car, uprooting a tree in the front yard of a home.
    >>
    SPOKANE, Wash. - The man killed in an early morning crash on Friday has been identified as 34-year-old, Alejandro E. Apodaca. Just before 12:30, Apodaca crashed his car on S. Bowdish Rd. He was traveling South on Bowdish near 17th when he lost control of his car, uprooting a tree in the front yard of a home.
    >>
  • LOOK: Latest Photos Of Sex Offenders Living In Our Area

    LOOK: Latest Photos Of Sex Offenders Living In Our Area

    Saturday, February 15 2014 12:56 AM EST2014-02-15 05:56:26 GMT
    KHQ.COM - Do you know if there are sex offenders living near you? Spokane County Sheriff's Office have a website where you can check if there are sex offenders in your area. Here are all of the registered sex offenders with the Spokane County Sheriff's Office.>>
    KHQ.COM - Do you know if there are sex offenders living near you? Spokane County Sheriff's Office have a website where you can check if there are sex offenders in your area. Here are all of the registered sex offenders with the Spokane County Sheriff's Office. LOOK AT ALL OF THE PHOTOS INSIDE OF THE STORY>>>>>
  • Two Suspects Arrested In Thursday's Robbery At McDonald's As Investigation Continues

    Two Suspects Arrested In Thursday's Robbery At McDonald's As Investigation Continues

    Friday, April 18 2014 2:34 PM EDT2014-04-18 18:34:41 GMT
    UPDATE: Two suspects have been arrested in connection to the robbery that occurred Thursday evening at the McDonald's at 2200 W. Wellesley Ave. Major Crimes Detectives are also investigating the possibility these suspects are connected to other robbery incidents.>>
    UPDATE: Two suspects have been arrested in connection to the robbery that occurred Thursday evening at the McDonald's at 2200 W. Wellesley Ave. Major Crimes Detectives are also investigating the possibility these suspects are connected to other robbery incidents.
    >>