Elizabeth Warren: Use Excise Taxes to Reduce Gun, Ammo Sales

Democrat presidential hopeful Elizabeth Warren wants to use federal excise taxes to reduce gun and ammunition sales.

Her gun control, made public in August on Medium, shows Warren believes the current ten percent excise tax on firearms is too low. She wants to raise that tax to 30 percent while increasing the tax on ammunition to 50 percent.

Because excise taxes are paid directly by the consumer–the taxes are added to the price of the goods–this means a $500 gun would immediately cost $650 and the price for a $20 box of ammo would immediately rise to $30.