Legalization of Marijuana raises different views and opinions depending on whom you ask. Some argue that the legalization of marijuana will boost the local economy by the tax revenue the state will collect. The prohibition enforcement costs the state will save by legalizing marijuana are in the millions according to some research. The incarcerations due to marijuana related charges cost the prisons $1 billion dollars a year. The savings and tax revenue that legalization will save the state are in the billions, so what are the cons for this issue?
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Petition Wants To Make Ohio The Fifth State To Legalize Marijuana
A group in Ohio wants the state to join Colorado, Washington, Oregon and Alaska in the legal recreational marijuana club, with a new petition to amend the state’s constitution.
The petition from ResponsibleOhio must collect 300,000 signatures before the amendment making marijuana legal medically and for recreational use could be put to a vote in November, reportsCNNMoney.
The group is made up of investors from several companies who want the state to allow residents 21 and older to possess up to an ounce of pot for personal use and allow doctors to prescribe marijuana for some medical conditions. Residents could also grow a limited amount of cannabis plants at home.
Pew study finds auto title loans as harmful as payday loans
CLEVELAND, Ohio — Title loans are just as toxic as their payday loan cousins, according to a new report from Pew Charitable Trusts.
“They fail to work as advertised. They’re overwhelmingly unaffordable,” said Nick Bourke, director of Pew’s small-dollar loans project.
Like payday loans, auto title loans are marked by triple-digit interest rates and balloon payments that make them hard to pay off.
The Pew study sheds light on auto title lending ahead of a field hearing Thursday in which the Consumer Financial Protection Bureau is expected to map out a rule that could cover not only payday lending but other high-cost small loans.
Ted Cruz: Small business are going out of business ‘in record numbers’
Republican Sen. Ted Cruz became the first big-name politician to announce a 2016 presidential bid during an address at Liberty University in Lynchburg, Va.
Cruz, of Texas, asked the audience to “imagine” (a word he used 38 times) what he believed a conservative administration could accomplish.
“Think just how different the world would be. Imagine instead of economic stagnation, booming economic growth,” Cruz said. “Instead of small businesses going out of business in record numbers, imagine small businesses growing and prospering. Imagine young people coming out of school with four, five, six job offers.”
