Sunday, January 7, 2018

Legalized marijuna:funding scholarships for students and helping to get the homeless off the streets

As most of the talk around the growing legalization of marijuana in many states seems to be primarily on how to invest in pot based companies as well as the euphoria of being able to use it recreationally, there is one important factor that could really turn the tide in several other states who might one day choose to allow for legalized pot.  And that is the boon of increased tax revenues to help fill gaps in their budgets.

Colorado and Washington state of course were the first places to give the middle finger to Washington D.C. on their perhaps unlawful condemnation of making certain drugs illegal.  And this has now been followed a few years later by states such as California and Nevada legalizing marijuana use as they finally acknowledged how regulating pot could be a major benefit to their collection of tax revenues.

So the question now to be asked is where exactly are the revenues garnered from pot sales actually going towards?  For Colorado it appears to be for some very important issues that actually benefit the people rather than wasteful state government programs.

According to CBS News, all graduating high school students in Colorado's Pueblo County will receive local college scholarships funded by marijuana tax revenue. 
The Department of Public Health and Environment (CDPHE) received $18 million from last year's tax revenue, funding multiple programs including the Marijuana Education Campaign, a state-administered program aimed at education programs for youth. 
The state's Department of Human Services received $7.1 million to assist those in jail with mental health problems and $6.7 million was allocated for substance abuse prevention grants. 
According to a budget bill signed by Colorado Governor John Hickenlooper in May, 2017, Colorado will spend $15.3 million of its cannabis tax revenue on housing assistance for the homeless and those who are at "high-risk" of losing their homes.
Aurora, Colorado's third largest city, plans to allocate $15 million of marijuana sales tax revenue to aid homeless in the city. – Sputnik News
Homeless and the unaffordability of a college education are actually two growing epidemics that the state of Colorado appears to be focused on.  And it is through the government's willingness to be open to legalizing and regulating a substance that they could not stop anyway on the black market that is allowing them the funds to address these issues, and turn an untenable situation into a beneficial one.

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