Washington, July 8 (ANI): Legalizing marijuana could bring down the price of the drug and encourage sales in California, says a new study.
The study by RAND Corporation reported that the prices could be cut by 80 percent, and drug use could become rampant.
Even with high taxes (50 dollars per ounce) and a moderate rate of tax evasion (25 percent), researchers cannot rule out consumption increases of 50 percent to 100 percent, and possibly even larger. If prevalence increased by 100 percent, marijuana use in California would be close to the prevalence levels recorded in the late 1970s.
"It is critical that legislators and the public understand what is known and unknown as the state weighs this unprecedented step," said Rosalie Liccardo Pacula, a study co-author and co-director with Kilmer of the RAND Drug Policy Research Center.
In November, California voters will consider a ballot measure titled the Regulate, Control and Tax Cannabis Act of 2010 that would make it legal for those aged 21 and older to cultivate marijuana on a 5-foot-by-5-foot plot, and possess, process, share or transport up to one ounce of marijuana.
"A fixed excise tax per ounce may give producers and users an incentive to shift to smaller quantities of higher-potency forms of marijuana," said study co-author Jonathan P. Caulkins, the H. Guyford Stever Professor of Operations Research at Carnegie Mellon University's Heinz College and Qatar campus.
However, an increase in marijuana use could cause a spike in those who voluntarily seek treatment for marijuana abuse, researchers say. (ANI)