Gun Sales Push Excise Taxes to New Highs
NEWTOWN, Conn. – During a time period of great economic uncertainty, firearm and ammunition sales have continued to increase throughout the country.

According to the most recent Firearms and Ammunition Excise Tax Collection Report, released earlier today by the Department of the Treasury, firearm and ammunition manufacturers paid more than $109.8 million in the first calendar quarter of 2009; up 43% over the same time period reported in 2008.

This dramatic increase follows a 31.3 percent increase in excise taxes from the previous quarter (4Q, 2008) and eight straight months of increased FBI background checks – another strong indicator of firearm sales.

A third reliable source, the National Sporting Goods Association (NSGA), reported that in 2008, "Hunting and Firearms" equipment was the only category to grow double digits and only one of seven categories that exhibited growth. NSGA's forecast for 2009 shows "Hunting and Firearms" as one of only two categories to exhibit growth.



Manufacturers of firearms and ammunition pay a federal excise tax -- a major source of wildlife conservation funding -- on all firearms and ammunition manufactured (11% on long guns and ammunition and 10% on handguns).

This latest excise tax report which covers the time period of January 1, 2009 through March 31, 2009, shows that $33.0 million was collected in taxes for pistols and revolvers, $38.9 million for long guns and $37.8 million for ammunition. Compared to the same quarter in 2008, collections were up 65.5% for handguns, 42.9% for ammunition and 28.3% for long guns.

Translation to Sales

Using the latest collections as an indicator of sales, a projection of $1.03 billion was generated in the first quarter (calendar year) of 2009. Please keep in mind that although excise taxes are one of the best indicators of industry performance, they only report what the manufacturers paid in taxes and do NOT reflect retail mark-up and final retail sales.

Pistols and revolvers: $33,043,554.83 / .10 = $330,435,548.30 = $330.4 million for handguns

Long guns: $38,979,972.16 / .11 = $354,363,383.27 = $354.3 million for long guns

Ammunition: $37,846,038.52 / .11 = $344,054,895.64 = $344.0 million for ammunition

Total estimation for the quarter: $1.028 billion

Joe

Interesting thread and it reflects what I have seen in the last few months at gun shops I visit. All the best...
Gil

So, what do you think all these gun sales mean with regards to America's faith in its current government?

Before enlightenment - carry water, chop wood
After enlightenment - carry water, chop wood

Excellent points and post Joe.

And, it sheds even more light on the idocy of the current Admin. They are just dying to ban and control guns yet they generate massive amounts of revenue.

Go figure.

Hush those lips stovey !!! Helping them figure the revenue thing out will only lead to them figuring out a way to bankrupt the industry and take it over !!!

Pumpkinslinger wrote:

So, what do you think all these gun sales mean with regards to America's faith in its current government?

Good point.

I have no faith in my Government. At all.

It does not mean I do not love my Country or being a free American. I do.
I also love what my country stands for most that others only dream of having.

Liberty.

My Government has become a power grabbing bloated beuracracy that is so busy twisting in the wind trying to untangle the mess it is making of things they have lost sight of any hope of becoming a stable, ethical bipartisan democracy.

My Government is listening less and less to The People and doing exactly what they are not supposed to do, control of free enterprise, dictating what we can and cannot have while redistributing wealth and over-taxting it's citizens.

I love my Country.
I can't stand my Government.

Obviously, I am not alone.

Did you not notice the, not so subtile propaganda? "During a time period of great economic uncertainty."

Horse feathers and road apples, it is the fear of the Democrats and O'BS that is driving gun sales and the liberal media has been busy dreaming up ways to put a spin on it that they can blame on anyone but themselves and their Dem buds.
A bunch of Butt Wipes!
Best,
Ed

Pumpkinslinger wrote:

So, what do you think all these gun sales mean with regards to America's faith in its current government?

No Faith at all Mike it's sad.

Joe

stovepipe wrote:

Pumpkinslinger wrote: So, what do you think all these gun sales mean with regards to America's faith in its current government? Good point. I have no faith in my Government. At all. It does not mean I do not love my Country or being a free American. I do. I also love what my country stands for most that others only dream of having. Liberty. My Government has become a power grabbing bloated beuracracy that is so busy twisting in the wind trying to untangle the mess it is making of things they have lost sight of any hope of becoming a stable, ethical bipartisan democracy. My Government is listening less and less to The People and doing exactly what they are not supposed to do, control of free enterprise, dictating what we can and cannot have while redistributing wealth and over-taxting it's citizens. I love my Country. I can't stand my Government. Obviously, I am not alone.

My thoughts exactly...

What didja do...read my book?

Good point .A government that orders the people instead of listens can't last .

Speaking for myself, I have no president. The white House has a squater living there. And as far as the rest of the government goes, they leave us with nothing to have faith in! I am quit shocked they all have kept their positions this long.

hunterjoe21 wrote:

My thoughts exactly...

Great minds think alike.

Oh and another thing. Our country is supposed to be a "REPUBLIC", and we use a Democratic form of government. But after all, what difference does it make? they have screwed it all up pretty bad!

It's not a republic or democracy any more it's Money and Popularity.