Article – The Hill: Use Cannabis To Counter Effects Of China Trade War

Posted by on June 14, 2019 5:21 am
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Gene Marks the founder of The Marks Group writes for The Hill, ” So what do you say, President Trump? With one quick signature on an executive order, you can arm yourself with a powerful weapon to help you win this China trade war, help entrepreneurs, farmers and businesses across the country realize their economic dreams and reach out to a bunch of new potential supporters that may never have considered voting for you. All of that sir, will certainly help “Make America Great Again.”

Marks argues and we’d suggest you read the rest as the political football he suggests might just come into play if Trump thinks there’s an advantage in playing the cannabis game to secure the next 4 years.

So right now, while the feds turn a blind eye, the billions in tax revenues earned from the cannabis industry aren’t going to the U.S. Treasury. They’re going to the states. 

Recently, there’s been a lot of debate at the FDA about relaxing those rules. But now, with the China trade escalating and threatening a potential recession in advance of an election year, why should the president wait? Just think of the economic and political impact that legalizing it would have for businesses and farmers across the country.

For example, the federal government would have an entirely new stream of tax revenue, and let’s face it: If cigarette smokers are crazy enough to pay $15 a pack (most going to taxes), I bet most weed smokers aren’t going to put up much of a fight either.

Those taxes could be earmarked toward helping small farmers and small businesses that have been most impacted by the current tariff battle. When that battle eventually ends, I’m pretty sure the government will figure out another good use for the money.

The impact on farming, aside from any subsidies, could also be substantial. As I’ve written before, I’m sure some farmers are kicking themselves for staking their entire livelihoods on selling their product to one very large (and unreliable) customer in Asia, particularly when an incoming president has threatened trade action for years. Cannabis is a perfect way to diversify.

Source: https://thehill.com/opinion/finance/448221-cannabis-can-be-trumps-secret-weapon-in-trade-war-and-for-2020