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Marijuana. a lot of it unjustified. some of them are justified. this is issue of big industry. we are not going to have a tobacco industry that lied for 80 years to kids and said cigarettes are medicine and had doctors in their ads. when i worked in washington, the alcohol industry is huge. they fight every tax increase tooth and nail. beer ads are good because they are meant to hook kids. >> i think that, i totally agree with you. i think your earlier point about decriminalization is important. there's a huge economic impact in criminalization in terms of the number of people incourse rated, ...

What is the federal government going to do about it? it is clearly the case that marijuana is still an illegal drug according to federal law, selling it, trafficking it, doing all the things that are legal under federal law. now this huge question arises. having worked in the white house on this issue, what is the obama administration going to do? >> the president has been clear he's against legalization. we know we are going to have a cheaper drug, more people are going to use it. it's going to be more socially acceptable. it's a problem in one in six kids. it can be a problem on the roads an...

Tax is paid by labor. >> some of it, yes. >> the question is, how much? >> to me, the thing, bruce, i want you to respond to this. whatever taxes are now, they should be lower. it cannot be the case that it is always true of the current tax rate that it is too high. to me, it is genuinely the argument that is being made. it cannot comport to reality when you succeed in cutting taxes. bruce. >> one of the things about the people that they do is try to shift the debate over on to corporations. the real problem, frankly is not that we have a top marginal rate that is too low, it's the structure o...

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In the open. cigarette smoking and the impact of reducing young people's taking up cigarettes. >> david? >> i want to pick up what maya mentioned. a concern i have is the question of legalization of marijuana can overshadow the subissues we were talking about. the drug use and effects it has. >> disproportionate facts on latinos. >> in california. >> in dealing with, you know, the health issues. sometimes i think the debate is like legalization, like we were talking earlier. cutting taxes could solve our problems instead of looking at it. >> we want to create this like a health issue. if we ha...