Is Cannabis Americas Cash Cow?

, Written by Travis Koch, Posted: Wed, September 12 2012 at 6:37 PM, Updated: Wed, September 12 2012 at 6:51 PM

A pro cannabis group endorsement likely handed the seat of Attorney General to Ellen Rosenblum. A trend that seems to be spreading. Heavy hitters like Dr. Bronner's Magic Soap company giving $5,000 dollars to Oregon's Measure 80 that's set to go on the November ballot. The Cannabis Tax Act (measure 80) would legalize cannabis for hemp production and personal use as well as create a commission, similar the the one that controls liquor around the state.

But the bigger picture seems to be the money trail. $113 billion dollars in cannabis is consumed by Americans each year. The AP reported earlier this year that in the 40 years since Richard Nixon escalated the war on drugs, the United States has spent $1 trillion dollars fighting the full scale domestic drug war.

A landmark economic report from 2005 suggests that by ending the prohibition on marijuana a combined savings and collected taxes worth an estimated $10-14 billion dollars per year would be produced creating a boost to the U.S. Gross Domestic Product.

About the Author

Travis Koch

News at Sunrise Co-Anchor Travis Koch started his career as a filmmaker. He wrote and directed documentaries about traveling and extreme sports.

Among his many life experiences, he was a dog musher in Alaska and a baker in Minnesota. Travis began his career at NBC5 News as a weekend photographer and has continued to follow his dreams in television broadcasting and multimedia.

Catch Travis co-anchoring with Jennifer Elliott weekdays on NBC 5 News at Sunrise starting at 5:30am.

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