Big numbers are hard to fathom for most people, and the confusion they create helps to undermine peopleâs understanding of the impact that the failed Drug War has on oneâs or a hard-working familyâs bottom line. Your share of this century-long war is costing you dearly.
Have you ever thought about the fact that the feds and states combined have spent over 1 trillion dollars ($1,000,000,000,000) on the failed policy of drug prohibition, and that we spend about $69 billion a year on the Drug War while not taxing the $100+ billion Americans spend on drugs annually? With about 130 million taxpayers in the US, that breaks down to a cost of $530 a year per taxpayer. Then there's the tens of billions in additional tax proceeds weâre not collecting that could be funding, well, geeez, I donât know...health coverage for millions of uninsured children, safer borders and streets, Social Security, better schools, etc.
Yes, thatâs right, you could be paying less in taxes at the same time that current or desired programs are more robustly funded. Drug prohibition is a textbook double whammy. Check out Lost Taxes and Other Costs of Marijuana Laws by Jon Gettman â it will show you the US is missing out on $30 billion in taxes just on marijuana alone. We sure could fend off some budget crises with that kind of money. In California, producers and distributors of marijuana are trying to help, they just recently offered Governor Arnold Schwarzenegger at least $1 billion a year in new tax revenue.What would you rather spend your money on -- your mortgage, your childrenâs education, a new car? Had you had that money to buy Google stock, I bet youâd be quite happy. Over the last ten years, Iâd have paid more than $5,000 of my federal student financial aid loans, and improved my credit ranking in the process. Plus, the extra taxes from drugs would have helped insure my retirement future and made my community stronger at the same time.
While we are faced with almost $9 trillion in national debt (each personâs share is about $30,000), massive trade deficits, a US dollar falling all over the globe, spending billions a month in Iraq, housing market woes, a pending Social Security crisis, high gas prices, etc., the Drug War keeps sucking our wallets even dryer.Next time you are asked to pay higher taxes, a little short on money, or realize youâre not as far along in saving for your retirement as you wish, go ahead and thank your politicians who favor drug prohibition over your present and future financial solvency.
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