HOLLYWOOD, Calif., June 4, 2013 /PRNewswire/ -- Medbox, Inc. (OTC Markets: MDBX) (www.medboxinc.com), a leader in providing consulting services and patented systems to the medical and retail industries, commented today on Barron's Magazine June 1 cover story, titled "Should Pot be Legal?"
According to Barron's, America's long crawl toward legalization of marijuana is picking up speed. "Americans should be allowed to smoke cannabis as a matter of basic personal freedom," the article stated. "A society that enjoys legal whiskey, beer, wine, and tobacco has no business outlawing a recreational drug like pot that has fewer unhealthy side effects."
However, it's not just about personal freedom, Barron's contends. "With the nation's retail marijuana market estimated at about $30 billion, legalization also would bring some important economic benefits. It could lead to sharply lower prices, striking a blow to the Mexican drug cartels and American street gangs."
The tax revenues received from marijuana could be significant. Some estimates suggest that states will receive $3 billion from marijuana taxes, and other estimates are even higher. California alone could pull in $1.4 billion a year.
Furthermore, loosening the marijuana laws would have a positive impact on law enforcement. Norm Stamper, former chief of the Seattle Police Department, thinks legalizing marijuana will help lower crime. "It will give the police an opportunity to focus much more time, energy, and imagination on going after predatory criminals," he says. Legalization, he adds, also has "opened the door to a much more positive relationship between young people and police."
Dr. Bruce Bedrick, CEO of Medbox, Inc., stated that while Medbox does not have a position on whether cannabis should be legalized, he agrees with key points cited in Barron's article and is gratified to see a mainstream and conservative publication taking such a stand. "The benefits far outweigh the potential risks," he said. "States will receive billions in new revenues; police will be able to focus on dangerous criminals; gangs and drug-lords will lose a major source of their cash; and the over-crowded prison system will see some relief so states can cut back on their early release programs that places potentially dangerous people back into our communities."
Democrats and Republicans alike are now recognizing the benefits of legalizing marijuana. Rep. Dana Rohrabacher, a California Republican, last month introduced a bill to require the federal government to respect state laws on marijuana. "The Herculean effort undertaken by the federal government to prevent the American people from smoking marijuana has undeniably been a colossal failure," he says.
"We stand with the leaders from all sectors of state, local and federal government that want safe, sensible, and serious marijuana reform," Bedrick stated. "Our systems, which are now in use in every state that has legalized marijuana programs, provide the highest levels of security, transparency, and compliance," he added. "We encourage creating legislation that regulates, taxes, and holds accountable all sellers of marijuana, and through our consulting services and patented hardware and software systems, we are able to provide the tools necessary to implement cohesive controls on distribution, revenue collection, and regulatory oversight."
For more information on Medbox, visit: www.thedispensingsolution.com
To read the Barron's article, visit: http://online.barrons.com/article/SB50001424052748704509304578511261557343002.html?mod=BOL_columnist_latest_col_art#articleTabs_article%3D1
About Medbox, Inc:
Medbox is a leader in the development, sales and service of automated, biometrically controlled dispensing and storage systems for medicine and merchandise. Medbox has offices throughout the world, including New York, Arizona, Connecticut, Massachusetts, Tokyo, London and Toronto, and has their corporate headquarters in Los Angeles.
Medbox provides their patented systems, software and consulting services to pharmacies, dispensaries, urgent care centers, drug rehab clinics, hospitals, prison systems, hospice facilities, and medical groups worldwide.
Medbox, Inc. is a publicly traded company, and is quoted on the OTC Markets, ticker symbol MDBX.
For more information on Medbox, please contact the Medbox Investor Relations Department at (800) 762-1452 or go online to www.medboxinc.com.
SOURCE Medbox, Inc.