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When was the last time that you saw $5 cigarettes in many states? The problem with total legalization isn't just "big casnnabis" taking over. Its the government taxing the hell out of everything and then deciding that it is bad for the children, so they will tax it until you cant afford it anymore.
Yes and no. The initial problem with legalization will be Big Cannabis. Mainly because they will fight tooth and nail to try and limit home grow. Similar to alcohol (re-)legalization. Total legalization should entail home grow. Taxation is not a huge issue if home grow is legal.