Ben Harakel

Intro to Economics

Gun Control and It's Effects

New Gun Laws Could Mean Economic Woes For Booming Gun Industry

http://dailycaller.com/2013/03/29/new-gun-laws-could-mean-economic-woes-for-booming-gun-industry/

We all have heard something about the multiple mass shootings that have been unfortunately happening around the U.S. I doubt that anyone reading this has also heard something about the wave of gun laws that has flooded Congress but has, relatively speaking, produced nothing much to show. It is, however, about to put a hurting on one of the industries that has remained afloat during the recession, the gun industry.

The gun industry employs around 220,000 Americans and while the unemployment rate was skyrocketing, it added 37,000 new jobs each with a average salary of about $50,000. Adding onto that the gun industry paid more than $5 billion in federal taxes and contributed $33.6 billion to the United States GDP in just 2012's fiscal year. Now our ever so wise legislators are trying to derail that success by doubling the background checks done and banning high capacity magazines and firearms alike. New York, Colorado and Connecticut have passed the strictest gun laws of the states and in the process are driving away huge economic profits that come from the manufacturing and sale of guns. Colt, Strum & Ruger Company and Mossberg & Sons all call Connecticut home but the state feels that it would be better if the companies only manufactured the guns in the state. This whole idea is absolutely absurd, to me anyway, and makes absolutely no sense financially. The gun manufacturers are basically getting told that they are welcome to stay and employ the states residents but can't make any profit from those same residents. Why would you piss off the one industry that has basically kept your state going? I really like the idea that Texas Gov. Rick Perry had though. He basically said that all 26 gun manufacturers in Connecticut that he would be more than happy to accommodate them in his state and that it would be in their best interests to move their plants. It makes perfect sense if you actually think about it, not only will the gun companies be able to sell their products in state but because of the increased profits may not need to lay off the amount of workers they would have to in Connecticut.

The moves would not only affect the sales but also the health of the economy at the previous location and the market flow. Manufacturing parts have for the most part been supplied in state for the guns but with the move the suppliers may not have anyone to sell to. This would most certainly put the businesses out of operation and end up hurting the local economy. I feel like the current gun laws are pushing the limit as is and that the smart thing to do is leave them alone. I know for a fact that the recent events have not been in any way the fault of the gun manufacturers, but actually caused by ignorant gun owners. Punishing the manufacturers therefore seems an altogether stupid proposal even if the consequences are not intended.