Firearms Owners Against Crime
Institute for Legal, Legislative and Educational Action
Institute for Legal, Legislative and Educational Action
The Associated Press emerged from Wednesday’s House Committee on Oversight and Reform hearing completely aghast the gun industry profits from selling guns.
The hearing was framed around “examining the practices and profits of gun manufacturers,” and it was lead by Rep. Carolyn Maloney (D), who is also chairwoman of the Committee on Oversight and Reform.
Breitbart News noted Maloney used her opening statement to falsely claim that gun manufacturers sell weapons to mass murderers. We pointed out manufacturers to do sell weapons to individuals. Rather, they sell them to wholesalers/distributers, who then sell them to federally licensed dealers who, in turn, sell them to individuals who pass a federal background check.
One of the key points of the hearing was emphasis–and re-emphasis–on the amount of money gun makers have made off of selling AR-15 rifles over the past decade.
The AP reported this by relaying their astonishment that the gun industry makes a profit from selling guns.
They noted, “A U.S. House investigation has found that gun manufacturers have taken in more than $1 billion from selling AR-15-style guns over the past decade.”
One billion over ten years is nothing compared to the amount of money made in other industries.
For example, the New York Times pointed out that Ford Motor Company made $17.9 billion in 2021 and Macrotrends noted that Waste Management’s gross profit for 2021 was $6.8 billion.
The Verge observed Tesla made $3.3 billion in first quarter of 2022 alone.