Author Question: Is there any case for legalizing drugs? What will be an ideal ... (Read 23 times)

krzymel · **on:** Jun 29, 2018

Is there any case for legalizing drugs?

What will be an ideal response?

Question 2

Precisely what is meant by economic income?

What will be an ideal response?

canderson530 · **Reply #1 on:** Jun 29, 2018

Answer to Question 1

To reduce the consumption of drugs, they can be legalized and taxed. Legalizing and then taxing drugs has the benefit of raising funds for the government that could be used to help educate people about the danger of consuming drugs. However, if very high taxes are necessary to reduce the consumption of illegal drugs to the level of use when they were banned, this will cause buyers and sellers to engage in unreported trade in the black market and avoid the tax through tax evasion.

Answer to Question 2

Economic income is anything that enhances your ability to command resources. The technical definition is the value of what you consume plus any change in the value of what you own: Economic income = consumption + change in net worth.