Everyone would skip work to smoke and businesses will collapse in that one day alone and the people who do show up to work high would be less productive and lazy as fuck

The intact economy of Amsterdam begs to differ.
sure the smoke shops will be happy but will the millions thrown in jail for weed possession? If there released, we have a bunch of ex convicts running around debating whether they should sue the government for throwing them there in the first place or we can keep them inside and cause huge riots. 
No. The Constitution very clearly forbids laws from acting retroactively; there is no debate or potential lawsuit. People are in jail for violating the law, not for having once done something that conflicts with current law; that is to say that the current legal status of cannabis is irrelevant to those with prior possession convictions. This is a universally accepted fact.
If were going to legalize weed, it's going to be a long and drawn out process, first all states will allow medical marijuana then the punishments would slowly drop.. 
Agreed. Right now the illegality of cannabis feeds into cultural disapproval of it, which in turn cements its illegality. For legalization to occur, there will have to be a large change in mainstream America's attitude towards it, which cannot occur overnight.
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--Guru: LiveWire's new coolest rank--
If you have a problem with hedonism, you're probably not doing it right.