What Can Marijuana Do for the Economy?
With the inflation rate rising to a whopping 9.1%, many people are feeling the effects of the economy right now. Inflation directly impacts almost every aspect of a taxpayer’s life, from buying cars and airline tickets to everyday basics such as groceries and gas.
America’s economy plummeted around the time the Covid-19 pandemic began and has only gotten worse since then. State and local governments are searching for new sources of revenue to help provide jobs and fair pay to workers.
During the pandemic, nearly every state with legal medical marijuana deemed it as an essential business, even though it’s still federally illegal and is not covered by insurance.
How Does Marijuana Impact the Economy?
As many cannabis users know, purchasing marijuana can be very expensive. One of the things that makes it so expensive is the taxes associated with it.
According to the Washington Post, if cannabis were legal federally, the industry could make about $131 billion in federal tax revenue. Legalization would allow marijuana market value to be included in our GDP, which would raise it significantly.
Legalizing marijuana can affect economic factors such as job creation, government spending, taxes, and more.
After the legalization of marijuana in Colorado, they experienced a $423 tax revenue increase in 2021, which is almost 10% more than the year before. This means that not only can marijuana boost the economy but also that it isn’t phasing out. The marijuana market actively continues to grow and expand across the country.
In a study conducted by the RCG Economics Group, it was estimated that a total of 81,000 direct and indirect jobs have been created as a result of legalized marijuana sales in California. The total labor income also increased by about $3.5 billion as a result of legalization.
What Does This Mean for Mississippi?
With the implementation of a medical marijuana program in Mississippi, residents can expect some economic changes, to say the least. Thousands of jobs are expected to result from the legalization of medical marijuana in the state.
Medical marijuana will also give the state another source of revenue which could benefit everyone.
If you have a qualifying condition and want to help benefit your state’s economy, you should make sure to get your medical marijuana card. Lucky for you, we can help!
If you are interested in a consultation, reserve an evaluation online today, and we’ll book an appointment for you with one of our knowledgeable, compassionate doctors just as we’re cleared to.
You’ll meet with your new doctor virtually, using your smartphone or computer, for a telemedicine appointment where you will discuss your conditions.
Then, they’ll determine whether you qualify for a Mississippi Marijuana Card, all without ever leaving your home. And by reserving an evaluation online today, you can save $25 off the cost of the evaluation!
Doctors Who Care.
Relief You Can Trust.
Helping everyone achieve wellness safely and conveniently through increased access to medical marijuana. Our focus on education, inclusion, and acceptance will reduce the stigma for our patients by providing equal access to timely information and compassionate care.
If you have any questions, call us at (833) 781-6635, or simply book a medical marijuana evaluation to start getting relief you can trust today!