Has the Pre-Obama Gun-Buying Boom Gone Bust?

The Department of the Treasury has released its latest report on its Firearms and Ammunition Excise Tax Collections. Firearm and ammunition manufacturers forked over $101.7 million in excise taxes in the first calendar quarter of 2010. That’s down 7.38 percent over the same period in 2009. The feds collected $31.3 million in taxes for pistols and revolvers (-5.19 percent), and $31.4 million for firearms long guns (-19.32 percent). Not surprisingly—given the ammo drought of 2009—ammo sales are up by three percent year-on-year, to $38.9 million. The precipitous drop in long guns probably reflects cratering home defense modern sporting assault rifle sales, as reported and predicted by The Freedom Group’s IPO prospectus.

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