America is quite possibly on the verge of leaping into a new “roaring twenties” of sorts, and it could supercharge the American economy in ways that we never would have previously imagined.
The story is eerily similar to the situation about a century ago, after the 1918 Spanish Flu epidemic brought the world to its knees. Economies near and far contracted, on account of the massive death toll and the nee to remain isolated, inadvertently forcing millions to save beaucoup bucks. Then, as the threat passed, (which took about two years due to the less advanced medical technology of the time), Americans came back to the social scene in droves. Not only did these inadvertent savings become perceived wealth, but Americans who spent two years waiting for it to be safe to go back out in the world again did so with a vengeance. The end of the pandemic meant that the economy was humming again, which only compounded the fiscal security of these suddenly jovial Americans.
Now, we see all of this playing out once again, but with the added possibility that marijuana could be legalized at the federal level in a matter of months, further boosting our economic recovery.
But, should the federal bill fail in the Senate, Wisconsin is looking to move ahead with legalization anyway.
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Gov. Tony Evers announced Sunday his 2021-23 biennial budget proposes regulating and taxing marijuana much like Wisconsin regulates and taxes alcohol.
Under the proposal, Wisconsin would join 15 other states, including neighboring Michigan and Illinois, in legalizing recreational marijuana.
On top of increasing revenue, doing so will create jobs and reduce the criminal justice system costs, a release said. Evers acknowledged the medicinal benefits that could be provided to those who suffer from debilitating pain and illness.
“Legalizing and taxing marijuana in Wisconsin—just like we do already with alcohol—ensures a controlled market and safe product are available for both recreational and medicinal users and can open the door for countless opportunities for us to reinvest in our communities and create a more equitable state,” said Gov. Evers. “Frankly, red and blue states across the country have moved forward with legalization and there is no reason Wisconsin should be left behind when we know it’s supported by a majority of Wisconsinites.”
Polls have shown that 60% of Wisconsinites are in favor of legalizing marijuana already. Should the federal decriminalization bill pass, that number could even rise.
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