Big Dreams Taxing marijuana would be an asset to this country's economy by helping with debt, rebuilding schools and lowering the crime rate. According to Matt Ferner of the Huffington Post, since Colorado legalized marijuana, the state has made $600 million from combined wholesale and retail sales (Ferner). This can be great because the US could pay off a large part of its debts. That amount of money was earned through a 25% tax on retail purchases, including a 15% excise tax and a 10% sales tax (Ferner). Another benefit of taxing marijuana is that the government can give some of the money to the public. Some of this money can go to schools, hospitals and medical care. The rest can be put towards creating new office buildings for people who have no jobs or have been laid off and can start a career with a new company. This tax money can be used to fix our roads and fix all the bumps people hit and blow tires. According to Nick Allen, Colorado was the first state in the United States to license and tax sales of the drug for recreational use (Allen). Nick Allen, reporter for the Daily Telegraph, there are now 163 cannabis shops in the state (Allen). Allen said marijuana currently sells for more than $202 an ounce. The governor said the latest estimates are based on “a number of new industry assumptions” and include “variables” such as the number of tourists visiting to purchase the drug (Allen). The state is using the first $40 million it collects in taxes each year to build schools (Allen). Although marijuana is legal, the government is making efforts to control its use. Since marijuana use is restricted to adults 21 years of age and older, this would include efforts to prevent adolescent cannabis use, ...... middle of paper ...... April 2014. Harpaz, Joe. “How Taxes Could Slow the Growth of the Legal Marijuana Market.” Forbes. Forbes, February 20, 2014. Web. April 30, 2014. Hotakainen, Rob. “The marijuana industry is eager to pay taxes and collect deductions.” McClatchy Washington Bureau August 16, 2013: n. page Academic LexisNexis. Network. April 19, 2014.Migoya, David. “The lack of banking services opens the floodgates of private money to marijuana properties.” San Jose Mercury News April 7, 2014: n. page Academic LexisNexis. Network. April 19, 2014.NBC. “NBC: Co Pot's tax revenue could be double that of alcohol.” KGW. KGW, February 3, 2013. Web. April 19, 2014. "Legalizing Weed Could Save $13.7 Billion a Year, Say 300 Economists." Huffingtonpost. Huffingtonpost, April 17, 2012. Web. April 17, 2014. Wilson, Reid. “Growth is slow for Washington State's marijuana industry.” Washington Post 9 April 2014: n. page Academic LexisNexis. Network. April 19. 2014.