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Inside the push for a federal marijuana tax

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    Rep. Earl Blumenauer on proposed legislation

  • Duration 3:42
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This transcript is automatically generated

Smoke it.

Then tax it.

Today Democrat lawmakers rolling out new legislation to regulate and tax marijuana in states where it is legal.

Congressman bill -- is behind that bush congressman welcome to the progress.

Thank you.

As I understand it the proposal it would.

Basically add a federal tax but roughly fifty dollars -- counts.

And you believe that that would bring in a total of twenty billion dollars extra revenue per year.

That sounds like and it must be an awfully big market in America.

Is it a big.

Well estimates vary but the fact he is that it is billions of dollars that we spend to arrest two thirds of a million people a year.

For something that half Americans think should be.

Legal and two thirds say let the states regulate it and it would stop.

-- costs.

It would likely tax alcohol it would put money to reduce the deficit and we start having a more rational policy.

Regarding marijuana.

So it wouldn't bring in twenty billion dollars in revenue directly from the -- -- that that's not the case we because we actually don't know OK they're been some estimates that suggest.

That the voters in Colorado.

And in the state of Washington.

By moving to legalize recreational.

Marijuana use.

Could cost drug cartels.

Over a billion dollars.

The point is we don't know how much but it's we're spending a lot of money on a program that's not working.

And we are losing a lot of revenue that could help reduce the deficit.

Legalization.

Could go bring the price a Pall on the street or -- -- legal -- Could bring it right down because if you take the criminality out.

There's no penalty for.

Anybody got a fifty dollar -- -- tax.

I understand that some high grade marijuana goes to 67800 dollars an -- You actually bring down the cost down to which would surely encourage usage.

Well I'm not certain that we have.

Had much success in terms of discouraging it with high costs and criminal penalties when we're told that something like eighteen million people used it.

Last month.

And over half the American public has tried it.

But that the economics we'll start their way out.

The point is we're spending billions on a failed policy and we could be collecting billions I think the next swing.

Would easily be over a hundred.

Billion dollars over the next ten years of credit savings and reducing the deficit.

Real fast -- -- the critics say.

Hey marijuana is a gateway drug encouraging although -- kinds of drugs and this legalize elation and tax method that you've -- via opens the -- to the legalization all -- drugs is another gateway to -- the legalization what do you say.

-- -- I mean people are using it now.

That's not an issue it is less dangerous in less destructive than tobacco in terms of its addictive qualities.

But the point is left the states decide.

To have already done that for recreational use nineteen have done it for medical marijuana.

The federal government should get rid of an absolutely unrealistic.

System that classifies it as being worse than math.

Or cocaine and -- and turn it from a cost to something that will help reduce the deficit comments from blooming thank you very much for joining us today so much appreciated thank you.

My my pleasure.

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