Legalisation of Drugs

madanthonywayne · Jan 15, 2008

Fraggle Rocker said: ↑

In a letter from Dr. Donald J. Boudreaux, Chairman of the Department of Economics, George Mason University (regarded by many as Virginia's top university) to Reason magazine, February 2008:

Prior to the 1914 creation of the income tax, taxing alcohol was second only to taxing imports as a source of federal revenue. So when, during World War I, the income tax proved to be a revenue-gathering megastar, Congress finally could afford to cave in to the dry lobby. By 1919 the sacrificed liquor tax revenues were only a tiny portion of the budget [which had grown enormously during the war].

By 1933--the year Congress successfully proposed the repeal of the Prohibition Amendment--the revenue situation was reversed. In that Depression year, income tax revenues had toppled by more than 60 percent from their 1930 level. Addicted to revenue, Uncle Sam ended Prohibition so that he could again tax alcohol.
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Who knows, maybe our present budget mess might serve as the impetus to rationalize our drug policy.

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Legalisation of Drugs

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