Lawmakers eye new taxes on guns, ammo in latest wave of legislation

If you can't ban 'em, tax 'em. Lawmakers looking to…

If you can’t ban ’em, tax ’em.

Lawmakers looking to more tightly regulate firearms in the wake of the Newtown shooting and other massacres are moving at the state and federal levels to introduce new taxes on firearms and ammunition.

The proposals range from the modest — a proposed 5 percent tax in New Jersey — to the steep — a proposed 50 percent ammo tax in Maryland. The bills follow efforts to ban assault weapons and high-capacity magazines and expand background checks, measures which have had mixed success at the state level.

The taxes — much like so-called “sin taxes,” such as those on cigarettes — serve a dual purpose. They can deter buyers, while using the extra revenue for favored programs. In this case, the sponsors want to direct the money toward mental health services, police training, and victims’ treatment.

Read more at Fox News

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