Billionaire gives $1 million for marijuana campaign

Billionaire gives $1 million for cannabis campaign

Billionaire businessman George Soros gave a $1 million donation on Tuesday to “Proposition 19”, a campaign to legalize cannabis in California that is up for voting in November 2.

The campaign sponsor Drug Policy Alliance confirmed the contribution from the Hungarian-born Soros.

Proposition 19, also referred officially as the “Regulate, Control and Tax Cannabis Act of 2010” would allow Californians 21 years old and above to possess, transport, or cultivate the drug for personal use, and mandates local authorities to regulate and impose taxes on the industry.

The state of California has already legalized use of the psychoactive product for medicinal purposes since 1996.

Soros wrote in a letter that legalizing pot for recreational use and authorizing its cultivation would boost tax revenue and cut government costs.

He further wrote that regulating and taxing the drug "would simultaneously save taxpayers billions of dollars on enforcement and incarceration costs, while providing many billions of dollars in revenue annually,” Soros wrote.

“It also would reduce the crime, violence, and corruption associated with drug markets, and the violations of civil liberties and human rights that occur when large numbers of otherwise law-abiding citizens are subject to arrest,” he added. “Police could focus on serious crime instead.”

But the federal government is clearly opposed to any measures to legalize cannabis, saying that crime and violence can rise because pot use and deals would become more widespread.

The Obama administration and federal law enforcement officials have said that they intend to implement federal laws against possession of the drug and cultivation regardless of the outcome of the referendum.

Posted by George Daniels on Wednesday October 27 2010, 5:14 AM EST. Ref: Inquirer. All trademarks acknowledged. Filed under Health. Comments and Trackbacks closed. Follow responses: RSS 2.0