Ep. 1145: Good Morning Vietnam with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The US Budget Deficit and the Drug Law
We are spending as a country overall, state, federal, local, something like 50 to 60 billion dollars a year on criminal justice activities. Of course we're not enforcing it very effectively, there's still a significant drug markets and most people who want to consume these substances are able to consume the substances,. albeit at somewhat elevated prices. We're also foregoing a similar order of magnitude in tax revenues that all levels of government together could collect if we legalize drugs and treat it down similarly to other legal goods.
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