Colorado legalizing marijuana

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As many of you might know Colorado just recently legalized marijuana (well, the bill isn't in effect yet I don't think). I was just curious on what peoples opinions on this were. Personally, I see it as a step in the right direction. It will bring millions of dollars to the state which will help in school fundings. Also, I think the fact that it is regulated the same as alcohol is important to note and also a good thing. I never quite saw why it would be treated differently than alcohol when the health effects of alcohol can be worse, you cannot die from marijuana consumption but you definitely can from alcohol, and the psychological effects on people who are high are not nearly as bad as those on people who are drunk. I just wanted to see if we could have a mature discussion on the topic because I really do want to try and understand a rational argument against the legalization and also other people's reasonings as to why they would support the legislation.