A Tax on Marijuana?
Having sat through a lecture from my Microeconomics professor, it occurred to me as to just what he may have been indirectly advocating. The basis of the lecture was to center around the “Application of Elasticity” in any given market. Topic for the day? You guessed it, ILLEGAL DRUGS. Being it a 9:00 AM class, the lethargic hangover of sleepiness was cast aside and I was immediately injected with a sense of excitement. This is what college is all about, I thought. Stirring topics that immediately spark up debate and intellectual exploration.
The meat of the discussion was essentially this: the government’s attempt to limit the consumption and/or sale of an illegal substance with INELASTIC (inelastic meaning any change in price will have little or no effect on demand) demand, results in an increase of the scarcity power of that particular substance and ultimately a higher potential profit for those law-forgoers electing to sell the drug. Gov’t enforcement does in fact curb the use/sale of illegal substances (with a limited effect), but at the same time, even more significantly, indirectly enhances the street value of these drugs. That now higher valued product attracts a healthy share of sellers and in turn, spawns potentially dangerous competition. I say dangerous simply given the fact that there is without regulation a possibility for the creation of gangs and turf warfare. Further discussion led to the idea that a viable alternative to law enforcement might be the issuing of a tax on one of these substances. Now my professor didn’t go much further than here with the topic as it was likely he was more concerned with the inelasticity or elasticity of the given market rather than policy making. However, I couldn’t help but consider the fact that he was in fact toying with the idea.
It’s safe to say that our economy is spiraling down at an unprecedented rate. Much already has been done to combat the reeling economy under the new administration of President Obama, including one of the largest stimulus packages ever passed through Congress. Yet, many question the potency of such a massive bill. Is there substantial meat to the stimulus or is it simply a rushed product laden with pork-barrel projects? Despite the White House’s approval, I personally believe this bill will not do enough quickly enough to right the economy back on track. Housing prices will continue to deflate until trust is restored to the credit line between banks and consumers and I don’t visualize that happening any time soon. Consumer confidence has hit an all-time low and with good reason. With little or no equity left in their once overvalued homes, consumers have lost their ability to consume like they were doing from the mid 1990′s to just a couple years ago. Several states across the nation are in excessive debt including but not limited to: California, South Carolina, and New York. Solutions are running thin these days, and Governors are having a tough time balancing their budgets. Yet just recently, a rather spontaneous but intriguing proposal was brought forth by the likes of Assemblyman Tom Ammiano, D-San Francisco. On February 23rd, Ammiano proposed legislation, that if approved by the State of California, would result in the legalization of Cannabis and, in turn, the ability of the state to tax it.
Out of all the horrible and life-destructing substances out there, there is one that may just happen to deserve a class of its own. Cannabis sativa, or “marijuana”, a legally defined Type I drug, that is, a drug flanked by the likes of Heroin and Cocaine, is entirely misrepresented. Although I am no expert in Medicine, based on my own experiences, I would argue Cannabis is a relatively innocuous substance. We know that the buds of female Cannabis plants are already being utilized in hospitals across the nation as well as in states such as Vermont and Massachusetts, where marijuana has been decriminalized to the extent that it is legal to possess small amounts. With each day, I believe, we inch closer to wide-scale decriminalization. But why stop there?
Assemblyman Ammiano’s proposal is a major step in the right direction. California’s marijuana crop is estimated at $14 billion annually. Already, in the rolling hills of Northern California, growers have found their niche making quite a nifty profit from the “medicinal-marijuana dispensaries” who purchase the buds of their plants (Medicinal marijuana was legalized by the State of California in 1996). Analysts suggest that anywhere from 1-2 billion dollars could be collected in revenue from a tax on Cannabis. Given the current state of affairs, that is a whopping sum of money that the State of California would love to have at their disposal. Hell, what state wouldn’t.
Though, the general public has a negative view of marijuana because we have had it drilled in our heads since the very beginning of our school days that marijuana is the “gateway” drug. “Smoking pot kills brain cells, smoking pot promotes violent behavior”. Yet none of these claims have been verified. Not a SINGLE death has been reported that was directly due to the consumption of Cannabis. That in itself is a pretty powerful statement.
Yet despite the public views on Cannabis, what it really all boils down to is economics. Sound economics. People are losing their homes, their jobs. Families are being torn apart, blue-collar, white-collar citizens thrown on the streets. The almighty United States has hit a significant roadblock in its storied past. When all is said and done, this recession may just happen to go down as “The Great Recession”. I know we may be a way’s away from full-scale legalization. However, I believe California may just be the stepping stone this nation needs. The legalization of marijuana in the state of California and the subsequent tax placed on it possesses greater potential benefits than the costs. No longer would it be left up to the despised drug-dealer of the street corner, and instead placed on the shelves of legitimate corner-stores and small businesses. Demand may initially skyrocket, but would eventually bottom out once the craze died out. Just look at the sovereign nation of Holland, where marijuana is legalized and they have one of the lowest crime rates in the world. Law enforcement could shift their resources from the prosecution of minor-drug offenders, potentially saving millions of dollars. Less people would be convicted and, in turn, less inmates to house saving YOU tax dollars (that is if you are a resident of California).
It is time to put aside the prude debate over whether or not Cannabis is a safe drug. Would hopitals be supplying their patients with a truly destructive substance if they didn’t believe it was in the best interest of both the patient and the doctors providing the treatment? Californian legislators must take full consideration of such a proposal. The cloud must be lifted and real facts made transparent. I believe the future of Cannabis in this country rests solely on the hulking shoulders of the Republic of California. I can only hope there is more Ammianos out there.
Jets Lose to Seattle?!
Dear Eric Mangini,
1. Explain to me just why you would settle for a punt, yes people, a punt, over a potentially game-changing field goal?
In one of the most mind-boggling moves of the season, on fourth down with the Jets in field goal position, Jay Feely proceeded to kick a successful field goal only to have it negated thanks to Mangini and Co’s stellar clock management skills (a delay of game penalty was issued to the Jets).
2. Then, with all 3 of your timeouts remaining, you elect to go for a fourth and a prayer deep in your own territory with over 2 minutes and 30 seconds remaining. Honestly, what are you doing?! And we once thought Herm Edwards time managment skills were questionable. Within the past 4 weeks, I have witnessed a collection of players transform from a truly promising football team to the same laughingstock of a decade ago.
This loss was truly disheartening. As a Jets fan for as long as I can remember, this was about as discouraging as Doug Brien’s miss of a game winning field goal vs. the Steelers during the 2004 playoffs, and at least that was somewhat justifiable. To score 3 points versus by far the worst defense in the league is unbelievable to say the least. Now people will try to pin this loss on one of Brett Favre’s worst performance of his career. It is not to say that Favre should most certainly be allocated some of the blame, because he looked lost out there (hurling the ball across field, across his body, all over the place). In my honest opinion, Favre will always be nothing more than a gunslinger– a potentially exciting and successful player. Yet when it really comes down to it, Favre is nothing more than a hurler and always will be. It is no mistake that Brett Favre holds the all time record for interceptions!
Chad Pennington, if you’re out there somewhere, please forgive me for treating you so poorly last year. You truly do deserve a pat on the back for everything you did for this franchise and everything you sacrificed during your time as a Jet. And your character only continues to impress me, having put up stellar numbers in a city not renowned for its professional football. I think if the front office could do it again, they would make all the same moves except one– releasing Chad Pennington and then proceeding to trade for the seasoned Brett Favre.
Jets fans will have a hard time living down this one. The team was in full control of its own destiny, win out and they were in. Perhaps they didn’t deserve it. To fall flat on your face in a game versus the Seattle Seahawks, a team that had won just 1 game at home prior to today, a team that was sporting 5 new offensive linemen, a team that had only beaten the lowly St. Louis Rams and the even more dreadful San Francisco 49ers all year, is a surefire example of a team full of pretenders. End of thread.
P.S. Don’t let Bob Sutton back next year. Ty Law please stop coming back, you clearly speak louder than you play.
A Truly New Deal
Charleston
President-Elect Barack Obama’s proposal of an extensive public works program to help spur the recessive economy carries with it enormous potential. However, it must not be without some sense of tentativeness that Mr. Obama proceed to implement such a massive project. Obama should heed close attention to the time period enveloping FDR’s first 100 days in office. It was during this epic period that FDR proceeded to entirely turn U.S. infrastructure upside down. By now, I’m sure, most of us are familar with the FDR comparisons Obama is conjuring. The pressing urgency of an already dire situation and the general dissatisfaction among the American people with the country’s direction are enough to draw such comparisons. Yet let it be known that it would be inherently faulty to suggest that a mere reclaiming of Roosevelt’s former blueprint can be just as readily applied to a 21st century economy as an early 20th century one. The first reason being that, at the onset of FDR’s attempt to implement his ‘New Deal’, the United States was entering some of the darkest days yet to be seen of the Depression. People were starving, millions, not thousands, were homeless, and by that time, the economy had done almost all the sputtering out it was capable of. The American people were desperate for anything and everything. President-elect Obama faces an inherently different challenge though. I am content to say that we have only seen the initial stages of this recession and may not see any significant progress until late 2009.
Just as banks were strapped for cash in 1933, today, the American financial sector has too taken a significant hit in its attempts to maintain liquidity. Obama’s number one priority should be to restore confidence to this sector. It is of utmost importance that banks, through the guiding eye of federal oversight, continue lending cash to potential borrowers. It isn’t just Susie Doe unable to recieve a loan on her new Honda Civic, it is even more so small businesses, the backbone of this nation’s econonmy, that depend on banks for financing their current and future investments.
Though, perhaps even before confidence can be restored to the market, President Obama must focus on restructuring the American auto industry. It is not without assigning strict accountability that Congress should proceed to dole out money to the American automakers. This accountability should start foremost with adherence to a draft of environmental standards layed out by Obama’s newly appointed Energy Secretary Steven Chu and Washington insider Carol Browner. In return for the use of taxpayers’ money, the automakers should be required to manufacture and distribute energy-efficient vehicles. 13, 14, 15 mpg are not acceptable benchmarks anymore. The technology is there, the braintrust is there. It is a matter of the Obama administration putting forward a strong message to the Detroit automakers: …”Either green cars or no greenbacks”.
As an eminent global influence, the United States of America under President-elect Barack Obama will inherit a fundamental obligation to establish itself as a leader in green energy and green technologies. It is only by our lead, that other countries may follow with similar implementations.
Obama’s administration must not let the auto industry fail. Truly a significant component of both the American economy and American spirit, one could argue Detroit’s “big three” are almost entitled to such financial reassurance. Remember, it is people like Henry Ford who helped revolutionize an industry. It is ordinary people like those who man the lines of GM or Chrysler’s factories today that once helped keep a nation afloat during state of war, providing armored cars and tanks, converting conveyor belts once designated for tires and combustible engines into cascading rows of munitions and other military provisions. Taxpayers need this industry for their welfare, America needs this industry to maintain its storied past.
Obama’s first 100 days in office will not be mired by the sweeping introduction of social reform once implemented by President Roosevelt. Rather, Obama’s Presidency will ultimately be predicated on how efficiently he can reorganize and revitalize the programs already in place. Sure, healthcare is a mess. But Obama can not possibly allocate time for that initially. The economy is the number one issue, as voiced by the voters. The banks have been spared, the volatile lenders responsbile for such a crisis have been spared for the most part, and now it is only appropriate that the auto industry be spared financial ruin as well. Obama can only pray that the industry hangs on before he takes office in 36 days.
Obaasan
O fleeting life, alas, vitality!
Outstretched her valiant attempts to reach
Memories turned to speckled dust
Just as soon, finally swept away…
Silence
The immense weight of silence, Beckons the back to slouch…
Deep in the chair,
As cold as the air surrounding it.
Pennington-less Jets… A New Hope?
…posted by Steven Spinello…
For seven long, at times, drastically drawn-out years, fans of the New York Football Jets were utterly forced to bear with a number 10 Chad Pennington as their starting quarterback, their leader, and ultimately the fate of the team’s success year in and year out. It would be faulty for me to say that there was no bright spots during this stretch for both the years 2002 and 2006 could attest to Pennington’s successes in green and white. In 2002, Pennington emerged from the shadows to take the helm left vacant by Vinny Testaverde’s season-ending injury and would do so rather fashionably, sporting an immaculate completion percentage to go along with an even better QB rating capped off with a considerably deep run into the postseason. Four years later, with a revamped coaching staff, Pennington would help lead his team to the playoffs again. Yet, no matter how many times Pennington performed admirably, there was always a sense of something missing. Sure, Pennington had and still does maintain one of the most efficient QB passer ratings in the National Football League, but, what is already apparent to most people involved with the game of football, it is no secret that Chad Pennington’s greatest strengths often succumb to one of his few but significant underlying weaknesses — arm strength; i.e., the ability to throw the ball down field and do so with relative ease. This was further exemplified with the final play of Sunday’s match in Miami (Pennington was picked off by CB Darelle Revis in the endzone to end the game). Actually, this was a rather conventional sight for New York Jets fans. Over the past few years, it was no rarity to see a potentially game-changing drive end with a crushing blow or an attempt coming up just short with Pennington behind center. Yet, this time it was different… Pennington was no longer behind center, no, in fact, Pennington no longer sported kelly green, this time he would be decked out in the turqouise green of the clear blue waters of sunny Miami, Florida.
And for this, Jets fans breathed a seven years’ sigh of relief.
Finally, Jets fans could desist from their attempts to put up with Chad as their quarterback, their wanting to like Chad, truly trust in his ability to lead their team to the greatest stage in professional sports– the Super Bowl. I myself can say that I was a victim of this false hope. You make the best of what you’re given, right? Well at least that what was the conventional thinking among the fan base.
Then along came a Brett Lorenzo Favre.
I will by no means sit here and say Brett Favre is the light at the end of the tunnel. Brett is no savior for this team. In fact, he is far from it, for there are many questions left unanwsered with this team (offensive line gelling? a conistent running game? the ability to compete with the best? etc..) But what Favre brings to the Jets is a certain charisma, a good vibe, per say. Those players step on the field, they converge at the huddle, and they see Brett Favre, a proven gamer, a legendary quarterback.. dare I say a surefire Hall of Famer. That is an insurmountable presence which no sports analyst, no player, no one can overlook. It’s Brett Favre behind center and everyone knows it, so you better compete. Pennington was a great leader both on and off the field for the Jets. There is no getting around that. But so is Favre and players know it from exhibit A –> Brett Favre: 3-time AP MVP, 7 division championships, 4 NFC Championship games, 2 NFC Championships, and of course one glorious Super Bowl Championship and a nice shiny ring to back it up. If Brett’s week 1 performance was any indicator of what’s to come for the Jets this year, it is sure looking bright. And dare I say brighter with a possibly season-ending injury for Pats QB Tom Brady. That feeling of restrained excitement that so often accompanied Jets fans year to year with the oft-injured Pennington starting has now finally lifted. A new season has officially commenced… a new hope for Jets fans. And they can thank not #10 but #4 for that.
this is…
the Midnight Marauder.. the conception of an unadulterated, slightly coagulated collection of current issues.
