For the last few months there has been a lot of talk in California about legalizing Marijuana. The idea is that taxes paid to buy and grow pot could help to alleviate the huge financial crisis the state is faced with. Governor Schwarzenegger had proposed cutting 10% of the states funding for education in order to assist in balancing California’s budget. Perhaps some of the “drug money” generated by taxing pot will help lessen the blow.
According to Time.com, marijuana is worth an estimated $14 billion dollars a year for the state. Curiously, $14 billion is the number that California is trying to come up with to balance its ailing budget.
Though Colorado is not in quite as dire a situation as California, the state’s situation is still not good. According to the Huffington Post, as of February 5th, cuts to education for next year have now reached $431 million.
Is Marijuana the answer? Colorado is already one of a few states that allows medical marijuana, is it such a stretch to legalize it for recreational use (with appropriate regulation, of course).
Something is going to have to be done. Currently, Colorado is ranked 49th in educational funding in the nation. With the numbers already that low, the cuts hurt. It is time to make a change in the way education is funded in the state of Colorado. If Colorado community colleges can rely on gambling revenue, why can’t Colorado K-12’s rely on the taxation of Marijuana?