Top 7 Negative Economic Effects of Colorado Gun Control
During Colorado’s 2012-2013 General Assembly legislative session, multiple restrictive gun control measures were passed and signed into law. The legislation package, which was backed by the liberal Bloomberg group Mayors Against Illegal Guns (MAIG), is set to take effect on July 1 and includes 15 round limits on magazines, expanded background checks, firearm exchange regulation, and other new red tape implementation.
MAIG has taken the lead in the advance of gun control legislation in Colorado and across the nation, while Mayor Bloomberg has personally donated large sums to organizations that defend embattled Colorado State senators, Giron and Morse.
According to the New Hampshire Union Leader, MAIG recently went so far as to claim Tamerlan Tsarnaev, one of the terrorists involved with the Boston Marathon attack, was a victim of gun violence.
Meanwhile, Colorado now faces a variety of negative economic impacts as a result of the legislation supported by MAIG, passed by the Colorado legislature, and signed into law by Colorado Governor John Hickenlooper.
1. Magpul Leaves Colorado
- The 14 year old Colorado Gun Manufacturer, which employs over 600 people and generates $85 Million in Colorado taxable revenue plans to leave the state due to the gun legislation.
2. Canceled Shooting Sport Competitions
- The cancellations occurred because of concern over the legal implications of new gun laws and political opposition. The 300 shooters expected to attend the International Defense Pistol Association’s Rocky Mountain Championship in Montrose July 4-6 will no longer provide the local businesses with gas, food, lodging, and other sales.
3. Colorado Hunting Boycott
- Hunting groups and individuals across the country plan to boycott Colorado hunting this fall. The reduction in hunters will deal a blow to the current $1.8 billion dollar yearly Colorado hunting and fishing industry.
4. Black Market Trading
- The new regulations and limitations on high capacity magazines increase the illegal trade of out of state or homemade extended magazines. These illegal exchanges will be untaxed and require no safety regulations. For example, in California, where high capacity magazines have been banned for ten years, the Justice Firearms Bureau has been forced to attend out of state gun shows and follow Californians back home to arrest them if they cross the state line with the illegal clips.
5. Wasted Government Time and Resources
- The new gun legislation will impose new burdens upon law enforcement, limiting their time and resources, especially if officers are forced to take extreme measures to stop black market trading like California. Also, the legislative battle over gun legislation prevents the Colorado government from focusing on other issues that could be important to the well being of the state.
6. Uncertainty Unbalances the Firearms Market
- Uncertainty over possible new gun legislative results in an unnaturally high demand for firearms and ammunition that exceeds the supply from gun manufacturers. The resulting higher prices cause consumers to waste resources that could have been used in other markets. The industry may gain from the short run increased sales, but the benefit will be capped at their ability to meet the demand and adjust prices, resulting in long-term negative implications.
7. Red Tape Kills Investment
- The increased regulation reduces the incentive for firearms manufactures, sports store owners, and other supply chain managers to invest in their business, hire new employees, or develop better/safer firearms.