I think it should be legalized. I don't touch the stuff, but, it makes a lot of sense economically. First off, there is the revenue the government gets from taxing it if it is legal. Then there is the reduction in legal costs - ie - court costs, etc. Plus, then you put a lot of smugglers, gangs, etc., either out of business, or you make a big dent in their business. I'm sure a lot of these types would end up turning to some other drugs or illegal activities, but you would take one more of those activities away from them if pot was legal.
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