It should be legaliZed (note the "z"), but should also have the same restrictions as cigs and/or alcohol does. And that really doesn't matter to those under 18 or 21, cause just like cigs/alcohol, there's always someone you know that's older who will get it for you.

Also, I agree that the govt will hellishly tax weed if it were legal. BUT I firmly believe that the whole government (not just the U.S., but they're the center of it) is corrupt, and they don't care about cannabis legalities since they're too busy fucking up the world. If you don't believe that go to YouTube - Alex Jones - Martial Law 911 (Part 1) and see what's really happening (especially in NY).