Ending Cannabis Prohibition Could Create $130 Billion in Revenue, 1.6 Million Jobs, and Unprecedented Wealth
June 07, 2020 at 05:00 AM EDT
Nearly a century ago, in 1929, the Great Depression hit the United States - shuttering businesses, devastating families, and changing the U.S. economy forever. Meanwhile, alcohol prohibition in the United States - which began in 1920 - was in full swing. And so was the black market it created. But public opinion about prohibition began to change dramatically during this time. Folks started to realize that all those tax dollars legal alcohol sales had been bringing in before prohibition were now being lost - an estimated $11 billion that could have flowed into the U.S. economy when it needed it most. And they also realized that the hundreds of thousands of jobs the legal alcohol industry had previously created could help get people back to work. Fortunately, the federal government came to its senses, and its repeal of alcohol prohibition in 1933 ended up being a major catalyst for bringing this country out of the Great Depression. Fast-forward just a bit, and the U.S. beer industry was responsible for creating 2.19 million jobs that paid more than $101 billion in wages and benefits in 2018. As we speak, the United States is grappling with an eerily similar scenario. It's a scenario that, as we've seen with the beer industry, could generate billions and put people back to work. It's also a scenario that will be incredibly lucrative for you... Full Story The post Ending Cannabis Prohibition Could Create $130 Billion in Revenue, 1.6 Million Jobs, and Unprecedented Wealth appeared first on Money Morning - We Make Investing Profitable . It's also a scenario that will be incredibly lucrative for you... Full Story Tags: Marijuana Industry To get full access to all Money Morning content, click here About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free . Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors. Disclaimer: © 2020 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201.