Friday, February 13, 2015

Should Medical Marijuana be Legalized

The history of cannabis and all its medical uses has varied from appetite stimulants to helping in chronic pain and even treating nausea and vomiting. The most recent researches now say it helps in treating symptoms of AIDS, the disease that kills 1 out of 4 people age 13 to 24.

Looking on medical marijuana now in the United States, it’s been spreading to be now legalized by 23 states for medical use only. In 2015, New York state legalizing medical marijuana use to ring a new bell and force people ask themselves many questions. When it comes to cannabis, people form different opinions, some against and others supporting legalizing it. Cannabis is not just a plant that is used to be a casual smoking habit anymore but is becoming a multi-million dollar industry, while potentially benefiting a lot of people.

Derek Peterson of Terra Tech, who ditched Morgan Stanley in 2012 to become a medical marijuana entrepreneur, says profit margins for the leafy business can be anywhere between 30% to 45%. That’s almost equivalent to Apple sales.

Indeed, the medical marijuana business may be a win-win for everybody, as each state that legalizes marijuana will be making money of that industry, IRS will be expected to collect 7% excise tax on gross marijuana income. Lawmakers expect a state tax as high as 10% which will be equivalent to $200 million nationally. Currently, marijuana profits reach $35 billion a year, 99% of it from illegal sales, whereas if it were legal, profits could jump to $350 billion.

One must also mention the other part that confuses many people with the usage, sale and possesion of marijuana. Cannabis is illegal in the United States under the federal rule of Controlled Substances Act of 1970, but some states made exceptions and made it legal for both medical and non-medical use. This results in a conflict between federal and state law.

Medical marijuana is one of the most shared topics currently. Exploring MedicalMarijuana.Pro Con articles about this subject put many thoughts and new ideas that I never had in my mind before. The good thing about the site is that it provide diffferent articles for critical thinking and educating without bias and allowing one to create his or her own opinion about the topic.

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