A recent report from the National Shooting Sports Foundation (NSSF) shows that the economic impact of the gun industry has increased 158% under President Obama.
(Article by Awr Hawkins)
The economic impact of the industry was $19.1 billion in 2008. It was $49.3 billion in 2015.
According to NSSF, wages grew at a rate of 126% during the economic expansion of the industry. In 2008, wages within the gun industry totaled $6.4 billion. But in 2015, Obama’s seventh year in office, wages within the industry totaled $14.5 billion. Job growth in the gun industry was 73% over the same period of time.
During this surge in economic impact, wages, and job growth, the gun industry brought billions to the federal and state governments in tax revenue. In 2008, the industry paid $1.5 billion in federal business taxes, and in 2015, they paid $3.7 billion–a growth of 144%. They paid $1.3 billion in state business taxes in 2008, a number that had risen to $2.5 billion in 2015.
And the amount paid in state business taxes was even higher in 2014, when it totaled $2.7 billion.
The growth of excise tax revenue tied to the gun industry grew 92% from 2008 to 2015.
This growth occurred in spite of Obama and his fellow Democrats, who have spent the last seven years pushing every gun control measure conceivable. These gun control pushes have included failed efforts to secure bans on entire categories of firearms, ammunition magazines, and ammunition.
AWR Hawkins is the Second Amendment columnist for Breitbart News and political analyst for Armed American Radio. Follow him on Twitter: @AWRHawkins. Reach him directly at [email protected].
Read more at: breitbart.com
