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Normal Topic gun nuts do their part to end the recession (Read 3119 times)
oldbluelight
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gun nuts do their part to end the recession
Jul 31st, 2009 at 11:50am
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According to a news release on PR Newswire – a business news service – the federal government’s quarterly collection of excise tax on firearms and ammunition sales is up 43% over last year same period. The lunatic fringe, evil nasty gun nuts, lunatic right-wing extremists, i.e. us, contributed $1.028 billion dollars to the treasury in the first quarter of this fiscal year.
  
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38_Cal
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Re: gun nuts do their part to end the recession
Reply #1 - Jul 31st, 2009 at 12:20pm
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And since the excise tax averages out, on long guns, handguns and ammo, to around 10%, that works out to over $10 Billion going into the economy on just new guns & ammo at retail.  Don't know if there's any way to know the value of used firearms sold in the same period.

David Kaiser
Montezuma, IA
  

David Kaiser
Montezuma, IA
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oldbluelight
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Re: gun nuts do their part to end the recession
Reply #2 - Jul 31st, 2009 at 2:52pm
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Mea Culpa Mea Maxima Culpa.  Undecided
38 Cal's calculation would be right if I hadn't missed a lick when I stated the figure. The $1.028 billion is the estimated wholesale amount. The taxes collected totaled $109.8 million. The breakout of the wholesale values on which the tax is paid  goes like this:
$330.4 million for handguns
$354.3 million for long guns
$344.0 million for ammunition.

The actual impact on the economy is significantly higher. These figures reflect the taxes paid by the manufacturers. They do not reflect the retail mark-up. In other words, these figures are the wholesale cost not the retail price of the goods.

I know I know! With this kind of skill at numbers I should be working for the government.
  
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38_Cal
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Re: gun nuts do their part to end the recession
Reply #3 - Jul 31st, 2009 at 4:24pm
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Bite your tongue!  Since you hang around on this forum, you're obviously too intelligent and honest to work for the gubbment!   Grin  Thanks for catching the numbers "oops"...thought it looked a bit on the high side.

David 
Montezuma, IA
  

David Kaiser
Montezuma, IA
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oldbluelight
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Re: gun nuts do their part to end the recession
Reply #4 - Jul 31st, 2009 at 6:25pm
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Thanks for the vote (pun intended) of confidence. You're right. I've got a brother that's a lawyer, corporate even, and one black sheep in the family fold is enough. Smiley
  
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DoubleD
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Re: gun nuts do their part to end the recession
Reply #5 - Aug 1st, 2009 at 12:11am
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Yes and remember those excise tax dollars go to states for wildlife restoration projects, thats what the law says.  So it must be so, yes it sure must.
  

Douglas, Ret.
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