It's obvious that the war on drugs is a failure of catastrophic proportions. Legalizing drugs in the same way we have legalized tobacco and alcohol would save us money by eliminating the costs of this war and would likely make for a safer world (until we find the next financial thing to quarrel over). An assemblyman from California has another advantage of legalizing one drug, marijuana - the state could tax it as it taxes alcohol and tobacco and, in today's economy, we can use all the tax revenue we can get.
Aaron Houston makes a good case for a domestic marijuana industry here. In addition to the advantages cited above, legalization should put a big damper on Mexico's drug cartel.
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