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

Banks Are In Trouble: Wells Tumbles As Revenues Plunge, NIM Hits Record Low, Warns On Payment Deferrals

By StevieRay Hansen

If there is one constant during earnings season, it is that no matter what the other banks do, Wells Fargo will always shit the bed,…

No Stimulus, No Problem: One Bank Sees “No Armageddon” Without A New Stimulus Deal

By StevieRay Hansen

In recent weeks, many have opined – this website included  – that with the US economy careening into a double dip recession (or perhaps depression), it is…

The Pandora’s Box Of Fed’s Digital Currency Will Ignite An “Inflationary Conflagration”

By StevieRay Hansen

We most recently described the Fed’s stealthy plan to deposit digital dollars to “each American” during the next crisis as a unprecedented monetary overhaul, but…

Citigroup Hit With $400 Million Fine Over AML Failures That Led To Mike Corbat’s Downfall

By StevieRay Hansen

The Comptroller of the Currency has finally handed down its punishment for the compliance failures that helped bring about an end to the tenure of…

World’s Top Oil Trader Is Now A Used Car Salesman

By StevieRay Hansen

Vitol Group, the world’s largest independent oil-trading firm, has been startled by the prospects of peak oil demand as it must diversify operations today to…

Stevie Ray

Leave a Reply

Your email address will not be published.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