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Marijuana Legalization Gains Traction

Marijuana legalization took a step forward in New Hampshire this week.  The State Assembly voted 170-162 in favor of legalizing up to one ounce of pot for adults over 21 years of age.  This is a huge step forward to see that state representatives are now becoming more receptive to the will of the people which shows that roughly 58% of Americans believe that pot should be legal.

Colorado and Washington both passed referendums in 2012 to legalize marijuana for adults.  As of January 1, 2014, it is legal to buy and sell marijuana at designated establishments in Colorado.  Washington is about three months behind Colorado as they try to decide the best way to regulate the substance.

Colorado distributors boasted $1 million in sales on the first day the market was open.  They raked in $5 million that first week.  The National Cannabis Industry is predicting that Colorado will reach $400 million in sales during the first year alone.  The state then estimates around $50 million in tax revenue.  Of that tax revenue, 40% has already been allocated to help the school system.

Alaska, California, and Oregon are also expected to place referendums for legalization on their 2014 ballots.  Finally, our country is seeing the error in Nixon’s failed war on drugs.

President Obama came out in an interview with “The New Yorker” stating that marijuana is no more dangerous than alcohol, mentioning that our punitive system requires modification.  He stopped short of endorsing legalization.

New Hampshire has taken a huge step forward, but obstacles remain.  The State Senate voted down similar legislation recently, and the governor promised to veto if the bill makes it to her desk.

When will Wisconsin see this as an issue of personal freedom and an economic stepping stone for our state’s revenues?  Will our state take action before the federal government?  Neither sounds promising at the moment, but elections have consequences.

Hear our full thoughts on this subject and more right here!

 


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