My parents need your opinion

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I have an older brother that just plain old cant follow the rules of the house. He would come home past midnight drunk or high. He has been arrested many times for underage drinking. He has also stolen money from my parents and $1200 from myself. My dad has kicked him out numerous times but my mom being the soft type feels sorry for him and lets him back in. My dad agrees if hes arrested again to let him toughen up in jail a little while but my mom doesnt agree. I know my brother loves us all but once him and his friends get drunk he loses control. My parents have run out of ideas. What should they do? Would leaving him in jail be a bad thing to do?