Federal agency recognizes pot for medical use

Medical marijuana dispensaries currently under fire from the IRS may have been handed a critical new weapon in their fight to stay open. The National Cancer Institute, one of the many federal agencies who make up the National Institute of Health, has ruled that marijuana does in fact have medical benefits, making it the first federal agency to do so.

The NCI has issued a statement that in clinical trials, cancer patients successfully treated nausea and vomiting, sleeplessness, pain, and loss of appetite using marijuana.  It stated that cannabis was being investigated as having not only a palliative effect on symptoms, but also a possible “direct antitumor effect”.

The IRS has been citing § 280E of the federal tax code as a means of disallowing years of business deductions for marijuana dispensaries, which, if allowed, would effectively put many of them out of business. § 280E states that no business deductions will be allowed for businesses “trafficking in controlled substances”.

Read full story here

I wear many hats but history, economics and political observance have always been a passion. I am a graduate of the University of Cincinnati College of Business with a degree in Information Systems and Digital Business with a minor in European History. I work for a small mom-and-pop IT consulting and software design company. We deal in servicing mostly government funded non-profit mental and behavioral health care agencies in the state of Ohio. In this I deal with Medicaid and Medicare funds and have a little insight on the boondoggles of government there. Thankfully the undemanding nature of my daily profession gives me ample time to read and stay aware of our current state of affairs which I find stranger than fiction in many instances. In addition to being in the IT field, I have also been self employed with a small contracting company so I might know a thing or two about the plight of small business that employs 71% of the American workforce. I however don't draw my knowledge from my day jobs, which I have had a few; I draw it from an intense obsession with facts and observation about the world in which I live. I do have formal education in things such as history, economics and finance particularly as it pertains to global issues, but I have come to find much of what I thought I knew from the formalities of a state university I had to unlearn through much time and independent research. I hope you enjoy what I bring you which is not often heard in the mainstream news outlets. I would like to think my own personal editorializing is not only edifying but thought provoking while not at all obnoxious. That last one may be a hard to achieve.

Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>