Updated: Nov 13
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Guest author Kim Prince is CEO and founder of Proven Media, a marketing communications agency serving B2B and B2C companies throughout North America. She is one of the most articulate and experienced professionals within the cannabis industry.
Below, she shares her views on the recent recommendation from the U.S. Health & Human Services to the Drug Enforcement Agency to reschedule cannabis (marijuana) from Schedule I to Schedule III.
Kim Prince on Rescheduling Cannabis
Everyone has an opinion on whether the proposed move to reclassify cannabis to a Schedule III drug, from a Schedule I drug, is the right thing to do for the industry.
While I understand the move brings essential, much-needed tax relief for license holders, the proposal to reschedule versus deschedule the cannabis plant will only create more bureaucracy, red tape, government interference and, ultimately, limited access and higher prices for the American public.
Rescheduling Not Beneficial to Consumers
Kim Prince on Rescheduling Cannabis. Cannabis needs to be descheduled and made more freely available at a fair price to adults throughout the country. The rescheduling of cannabis will not prove to be beneficial to consumers.
"Yet, unlike cannabis, both tobacco and alcohol—which can be deadly—are addictive and freely available to adults in retail outlets ranging from grocery stores to gas stations."
While my wise business mentor reminds me that substituting one evil for another helps to persuade no one, I am reminded that neither alcohol or tobacco is considered a controlled substance. Yet, unlike cannabis, both tobacco and alcohol—which can be deadly—are highly addictive and freely available to adults in retail outlets ranging from grocery stores to gas stations and corner convenience stores.
As we have seen from legalization efforts in some states, when the government gets involved, the consumers pay. Taxes on cannabis sales exceed 40 percent in some states and are thought to be pushing consumers back to the black market for this reason.
"Those who trust the Biden administration to do the right thing have far more faith in him and his cronies than I am able to muster."
While taxation and regulation are both concepts that are needed, politicians and legislators have taken these ideas too far. Those who trust the Biden administration to do the right thing have far more faith in him and his cronies than I am able to muster.
It's time to get politicians, government, and pharma out of the picture.
The American consumer wants safe cannabis at a fair price and the ability to pay for their purchases with traditional banking methods. The government and big pharma want the consumer to jump through hoops to get it.
"It's time to get cannabis off of the controlled substances list and for the country to take a sensible approach to legalization of this healing plant."
I wish I had the answers to the tough questions. But one thing I know for sure: It's time to get cannabis off of the controlled substances list and for the country to take a sensible approach to legalization of this healing plant.
— Kim Prince
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