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Could These Sneaky Taxes Bring Down The U.S. Debt?

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Nothing motivates like fear. Barack Obama won the U.S. presidential election on November 4, 2008, and gun sales surged. For the week of November 3, 2008, the Federal Bureau of Investigation (FBI) received more than 374,000 requests for background checks on gun purchasers, a 49.0% increase over the same period in 2007. (Source: "Gun sales surge after Obama's election," CNN, November 11, 2008.)

The surge was attributed to fears that a Democratic president and Democratic-controlled Congress would restrict firearm ownership. Similar surges accompanied the election of Bill Clinton, the last Democratic president.

Fast-forward to 2012 and it's déjà vu. In August, firearm sales checks were up 27.8% year-over-year to 1.04 million. (Source: "August sees 27.8% increase in firearms sales checks," Buckeye Firearms Association, September 6, 2012.) In September, they were up 14.7% to 1.07 million. This marks the 28th straight month that the National Instant Criminal Background Check System (NICS) figures have increased year-over-year. (Source: "September 2012 NSSF-Adjusted NICS Background Checks Up 14.7 Percent," National Shooting Sports Foundation, last accessed October 26, 2012.)

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