It should be taxed and regulated just like alcohol and tobacco. Not only is it morally wrong to jail innocent pot smokers just for choosing marijuana over alcohol, it has a few benefits for even non-smokers. For one it will make it harder for children to get, obviously drug dealers dont care about age. It will keep money out of the hands of criminals and lower crime rates. Last but not least it will help out the economy, even if only slightly, its something. And if you look at amsterdam, who have accepted pot smoking, there usage rates are down quite a bit compared to countries where its illegal. And to people who dont want high people running the streets and making problems, trust me, we are more interested in finding something to eat then falling asleep.