Jim Finnel
Fallen Cannabis Warrior & Ex News Moderator
Tomorrow, Harvard economist Jeffrey Miron will testify before the state's Marijuana Prohibition Study Commission and explain how changing the state's current marijuana policies could save tens of millions of dollars annually, and even possibly generate additional tax revenue.
According to Miron's estimates, reducing the penalty for the possession of small amounts of marijuana to a civil fine would save Rhode Island roughly $11.1 million per year in reduced expenditures on police. Miron also estimates that taxing and regulating marijuana would save the state roughly $40.5 million per year in reduced expenditures on police, prosecutors, judges and prisons. Taxing and regulating marijuana could also generate roughly $7.6 million per year in new tax revenue, according to Miron.
"Professor Miron's estimates illustrate just one of the many reasons why Rhode Island lawmakers should consider changing the state's disastrous prohibition on the nation's largest cash crop," said Robert Capecchi, a legislative analyst with the Marijuana Policy Project. "As lawmakers examine the economically unsound and wasteful policies that unnecessarily arrest, prosecute and incarcerate thousands of individuals simply for using a substance that is safer than alcohol, I hope they pay particular attention to Professor Miron's findings, especially in these tough economic times."
WHAT: Meeting of Rhode Island's Marijuana Prohibition Study Commission
WHO: Prof. Jeffrey Miron, Department of Economics at Harvard University
WHEN: Thursday, March 4, at 5 p.m.
WHERE: Room 212 in the State House
NewsHawk: User: 420 Magazine - Cannabis Culture News & Reviews
Source: commondreams.org
Author: Marijuana Policy Project (MPP)
Copyright: 2010 commondreams.org
Contact: MPP Homepage
Website: Harvard Economist: Decriminalizing Marijuana Could Save Rhode Island $11 Million Annually | CommonDreams.org
According to Miron's estimates, reducing the penalty for the possession of small amounts of marijuana to a civil fine would save Rhode Island roughly $11.1 million per year in reduced expenditures on police. Miron also estimates that taxing and regulating marijuana would save the state roughly $40.5 million per year in reduced expenditures on police, prosecutors, judges and prisons. Taxing and regulating marijuana could also generate roughly $7.6 million per year in new tax revenue, according to Miron.
"Professor Miron's estimates illustrate just one of the many reasons why Rhode Island lawmakers should consider changing the state's disastrous prohibition on the nation's largest cash crop," said Robert Capecchi, a legislative analyst with the Marijuana Policy Project. "As lawmakers examine the economically unsound and wasteful policies that unnecessarily arrest, prosecute and incarcerate thousands of individuals simply for using a substance that is safer than alcohol, I hope they pay particular attention to Professor Miron's findings, especially in these tough economic times."
WHAT: Meeting of Rhode Island's Marijuana Prohibition Study Commission
WHO: Prof. Jeffrey Miron, Department of Economics at Harvard University
WHEN: Thursday, March 4, at 5 p.m.
WHERE: Room 212 in the State House
NewsHawk: User: 420 Magazine - Cannabis Culture News & Reviews
Source: commondreams.org
Author: Marijuana Policy Project (MPP)
Copyright: 2010 commondreams.org
Contact: MPP Homepage
Website: Harvard Economist: Decriminalizing Marijuana Could Save Rhode Island $11 Million Annually | CommonDreams.org
