92 Years After Its Inception, the National Firearms Act Is Allegedly Nearing Its End Under Trump’s DOJ

Featured Story

For what reason does the ATF still require 2nd Amendment-protected Americans to get special approval before they can own certain types of firearms, such as rifles with shorter barrels, certain brands of stocks, or suppressors that, in most instances, do nothing to silence a gun but make it easier to hear when shot? For ninety-two years, people have been required to submit their fingerprints and pay a tax in order to legally own firearms, even tho this should be a fundamental right guaranteed by the Constitution.

The National Firearms Act of 1934, enacted under the administration of the much-maligned Franklin D. Roosevelt, is mostly to blame. Up until this point, the law has been both a source of constant frustration for American gun owners and a windfall for government authorities.

At last, the rule is being dismantled after almost a hundred years. The question is, how?

There must be a $200 tax stamp for the NFA to be legitimate. To avoid a conflict with 2nd Amendment safeguards, the government refrained from outright banning covered items. Rather, they imposed a tax on a number of firearms and accessories and made it very difficult to process both the fee and the approval for the acquisition. Approval by the NFA for any given item may take as long as a year before the Trump administration became involved.

To discourage people from buying certain weapons and accessories, this cumbersome procedure was intentionally created. Fingerprinting and applications put off many who were wary of government lists. Federal law classifies possession of any NFA-covered object as a severe offense punishable by up to ten years in jail.

Don't Miss

Central Bank Balance Sheets To Hit $28 Trillion Next Year

By StevieRay Hansen

As noted earlier, silver is crashing as much as 15% today, a plunge which if it had spread to stocks would prompt a panic at…

Liquidation: Stocks, Bonds, Bullion, & Bitcoin All Puked

By StevieRay Hansen

Well that really did escalate quickly… Today had the feeling of ‘liquidation’ (similar to March) as big-tech stocks (growth/value rotation), bitcoin, bonds, and bullion were all…

Day-Traders Send US Producer Prices Soaring In July

By StevieRay Hansen

US Producer prices were expected to rise MoM following four declines in the last five months and they did, rising 0.6% MoM (double the expected…

S&P Futures Hit All Time Highs On Stimulus, Vaccine Hopes; Gold, Silver Tumble

By StevieRay Hansen

S&P 500 futures hit a record high as investors shrugged off continuing U.S.-China tensions and instead focused on news of an approved, if largely unclear,…

Nasdaq Tumbles Into Red, Erases Vaccine Spike As ‘Memo Meltdown’ Continues

By StevieRay Hansen

All major US equity indices spiked in the early hours overnight on the back of optimistic vaccine headlines from Russia. However, while Russell 2000 futures…

Stevie Ray

Leave a Reply

Your email address will not be published. Required fields are marked *