DEVELOPMENTS IN THE LEGALIZATION OF MARIJUANA AND THE CANADIAN ECONOMY
29 March, 2017
It's fair to say marijuana is going to be legalized in Canada sooner than we think. At the moment it's legal in a few states within a country where an old man is in charge. Why would it remain illegal in a nation where a young liberal rules?
The only question we have to ask ourselves is how it's going to affect the economy. After all, the whole point of legalization is to make billions of dollars per year. Let's look at some of the things we know already.
A Quarter Of People Smoke It
In a recent poll of 5,000 Canadians they found out around 22 percent of the population already smoked marijuana. Of everyone who took part there were some who only smoked the drug occasionally.
The percentage of people who smoked it regularly was pretty high too. 7 percent of Canadians actually smoke it on a daily basis, which is huge considering the total population of the country.
Almost Half Will Try It
Obviously some of those polled have never touched the drug before, but 17 percent said they would be happy to try it for the very first time if it was legalized. When you add those numbers together it's staggering.
Almost 40 percent of the population would smoke the drug even if it wasn't on a constant basis. It's still got a long way to go before it catches up to alcohol, which roughly 80 percent of people drink.
It Could Possibly Hit $22 Billion
It's been said legalized marijuana in Canada could turn into a $22 billion dollar industry. Can you imagine how much the country would improve because of the taxes collected? This number is so high because of a few different things.
You've got your Canadians who will pay for their marijuana every week. Money will also come from products and services sprouting up. You have other factors like an increase in tourism too.
Colorado Is Thriving At The Moment
Mass Tsang criminal lawyers and other popular law firms should be scared if they look at stats from Colorado, because they'll have less clients to represent. Total sales hit a billion dollars last year.
In this case we're only taking about a single state nowhere near the size of Canada. In the last year over $135 million was raised in taxes and we've heard no mention of negative consequences because of the legalization.
Some Numbers Don't Look Good
If you add up the percentage of people who agree and strongly agree on the legalization of marijuana it's around 40 percent. That is almost exactly in line with the percentage of people who have or will smoke it.
Then you've got slightly less that don't want it legalized, which is only a difference of 4 percent. That leaves around a quarter of the country who don't really care either way and they will be swayed by the taxes.
It's Likely To Happen Anyway
The average person would say it's likely marijuana is going to be legalized soon despite what most people think. How this will all play out on a world stage because we're a G7 country is a different thing altogether and we'll have to wait to see.