A Market Forces Approach to Gun Regulation

A market forces approach to gun regulation It took decades of lethal accidents before cars were regulated but now laws affecting vehicles and our concern for securing WMDs can serve as a models for gun control On vehicles there is a two part regulatory process: 1)A series of stepped licenses for vehicles with greater requirements to operate larger more potentially lethal cars, trucks or planes, and 2)Liability insurance requirement to own and operate any vehicle in the US. Insurance companies, through actuarial data, determine the cost of liability insurance based upon risk of each vehicle type, age, experience and past history of operator. Requiring all gun owners not only to be licensed to purchase and own a weapon, but to have liability insurance for each weapon in case of misuse, accident or if the gun is stolen and used in a crime would introduce market forces into the gun debate. This insurance coverage must be high enough to cover the risk of these weapons, i.e. at least one million dollars and be a national standard. Insurers would price high risk individuals out of the market especially for high lethality weaponry in the hands of untested operators. Potential criminals who would be unlikely to obtain coverage could be charged with crimes of lack of licensure and insurance prior to even committing crimes, similar to how use of tax evasion is used to prosecute criminals in organized crime gangs. Individuals who own weapons must be held responsible for securing their weapons. Guns, especially those capable of multiple rounds are weapons of mass destruction. Guns are responsible for over 10 times the number of deaths per year than occurred in the World Trade Center attack. Our government keeps careful track over countries that possess weapons of mass destruction (WMD) and hold nations accountable for their possession. We should make gun owners accountable for possessing and securing their WMDs. All thefts must be reported to police but won't exonerate the owner for liability and multiple thefts would be evidence of irresponsibility in securing of weapons which could result in revoking of licensure and penalties. The weapons in the Newtown massacre were clearly inadequately secured and her estate should be held accountable for this to set a precedent. It is probable that only a select few would qualify for licensure and insurance for the high capacity magazines currently sold requiring current owners to turn in their stockpiles. This would help reduce the number of WMDs that are currently in people's homes and at least cause a consideration of the relative risk of liability and penalties versus perceived need for protection. Unlike state laws governing vehicles, the second amendment implies that these be federal laws consistent with "a well regulated militia" that doesn't prevent the ownership of weapons but makes gun owners accountable to sensible regulations consistent with the lethality of these weapons of mass destruction.