Mentor Capital, Inc. (MNTR) CEO Chet Billingsley sat down with California congressional candidate Marcus Musante to relay Mentor’s Five Best Cannabis Resolutions for the U.S. Congress for 2016:
(1) Save 10,000 lives annually by legalizing cannabis use. There is a 24% substitution effect from riskier hard drugs to marijuana when it is legalized. Click here for an article on the recent study published by the American Medical Association proving a decrease in drug overdoses in states with legalized marijuana use.
(2) Eliminate money laundering in cannabis by eliminating anonymous cash money. Federal agencies punish banks for depositing drug money, driving the industry to cash and opening the back door to black market cash buys. In 2016 pass a money laundering safe harbor for banks that deal with licensed marijuana companies.
(3) Restore some government credibility by ceasing to say, “Marijuana has no known medical uses.” Dr. Sanjay Gupta showed us on TV that a little girl’s seizures stopped with medical marijuana use. Cannabis should be removed from Schedule 1 & 2 of the Controlled Substance Act immediately. Click here to read more on this important legislative change issue.
(4) Allow cannabis entrepreneurs to deduct their business expenses. Illegal substance taxes and exhausting regulation push the legal price to 200% of the marijuana street price. This government driven price disparity keeps drug lords in operation controlling over 40% of the marijuana market in otherwise wholly cannabis legal areas. Exempt legal cannabis businesses from the 280(e) full tax on otherwise legal expenses.
(5) Turn over regulation of medical marijuana to the states. This will reduce prison crowding, damage to families by punishing marijuana users under federal laws, clogged courts with victimless crime cases, expand government revenues derived from the marijuana industry, create more jobs in the US otherwise exported to illegal drug trade, and accelerate the rate of study for new medical uses of cannabis derived compounds and doses.
Read the press release by Mentor Capital by clicking here.