Representative Rosa DeLauro, from Connecticut's 3rd
District, has introduced H.R. 226 in the
113th Congress. Raul Grijalva, from Arizona's 3rd District, is the co-sponsor.
H.R.
226 would give a $2,000 tax credit to those who surrender their so-called
"assault weapons" to law enforcement authorities. The tax credit is refundable, which is to say
that if the tax owed is less than the credit, the IRS cuts a check to the
taxpayer claiming the credit (there are some tax credits which are limited to
the amount of tax owed, and are not refundable).
The bill's main flaw (other than being an unabashed attack
on our Second Amendment rights) is that the weapon must be "legally
possessed" in order for the credit to be claimed. One must wonder how this poorly conceived
legislation will do anything to remove the illegally possessed weapons from hands of criminals.
The other problem is that it is a tax measure. If the Internal Revenue Code needs to be
simplified, adding another provision to it is counterproductive.
Besides, taxation corrupts! It is not difficult to envision all kinds of
so-called "tax shelters" to game the system with this one. Surely an item that technically conforms to
the bill's definition of a specified assault weapon (the proposed legislation
does not seem to require that the weapons be operative) can be manufactured and
distributed for significantly less than $2,000, purchased, and turned in to the
law enforcement authorities.
And while the laws enacted by Congress can be violated, the
laws of supply and demand are inviolate.
Enactment of this tax credit provision will drive up the price of the
guns, thereby increasing the profit margins in their manufacture. How would that remove guns from society? [I
know, I know. The registration
requirements, according to the gun-grabber advocates, will prevent guns from
falling into the wrong hands.].
The bill is bad policy all around. The tax pundits do not expect this bill to
come out of committee (though nothing is a sure thing under the Dome in
Washington).
The legislation should be shot down!
Labels: 2nd Amendment, Legislation, taxation
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