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Canadian think-tank sees tax windfall in legal pot
From: http://www.nzherald.co.nz/latestnews...section=latest
10.06.2004 5.42 pm

VANCOUVER - Decriminalising marijuana in Canada could provide a $C2 billion ($2.41 billion) tax windfall, according to a study by a right-wing think-tank.

British Columbia's illegal marijuana growers produce a crop with a street value of more than $C7 billion annually, the Vancouver-based Fraser Institute said on Wednesday.

The institute said it was time for Canada to decriminalise pot, and taxing its sale in Canada could generate over $C2 billion a year in government revenue -- money that is now going to organised crime.

The study estimated there are about 17,500 illegal "grow-ops" in the western Canadian province, which exports marijuana across Canada and in the United States -- where potent "BC Bud" can fetch more than US$4000 a pound.

Police destroy about 3000 grow-ops in British Columbia annually, but only about 13 per cent of the offenders are actually charged, according to the Fraser Institute study.

"The industry is simply too profitable to prevent new people moving into production and old producers from rebuilding," the group said in a news release on the study by Simon Fraser University economics professor Stephen Easton.

The Canadian government has proposed decriminalising possession of small quantities of marijuana, although it insists production will remain illegal. However, the legislation has been put on hold until after this year's federal election.

British Columbia's Solicitor General immediately dismissed the idea of legalising pot, saying it would draw the wrath of the United States and could lead to a closure of the border.

US officials have long complained that Canada is not tough enough on drug crime.

The Fraser study said additional revenue could be generated by taxing export sales.

- REUTERS

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goldberry

Not only would it provide billions of revenue in taxes, but the price of mj would fall saving its citizens additional billions, which they could then spend on other things.

They would also save money on no longer having to spend law enforcement resources on mj prohibition.

Sounds like win-win-win situation to me

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"Is our children learning?" George W. Bush

concerto

Yes, they will cave in to the prssure (Demands) of the US. USA thinks it owns the whole world and will tell everyone what they can or cannot do and if they dont follow our orders the consequences can be devastating.

I hate our government sometimes.

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Suetaz

They didn't include any figures for the increase in revenue from the increase in the tourist trade if we legalized marijuana. I'm sure we would have an increase of tourists like the Dutch have. Legalizing marijuana would increase business activity in the paraphernalia trade as well.

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