In: Economics
What impact does the case, McDonald v. City of Chicago, have on settling the controversy and to what extent can the government regulate the ownership and possession of firearms?
Decision ruled in favor of MCDONALD.
National Firearms Act of 1934 imposed taxes on automatic weapons and sawed-off shotguns.National Firearms Act of 1938, requires the licensing of interstate gun dealers, who must record their sales. It prohibits sales to individuals under indictment or convicted of crimes of violence.Omnibus Crime Control and Safe Streets Act of 1968 becomes the primary federal law regulating firearms. It prohibits all convicted felons, drug users and the mentally ill from buying guns; raises the age to purchase handguns from a federally licensed dealer to 21; and expands the licensing requirements to more gun dealers and requires more detailed record-keeping.Firearm Owners Protection Act (1986) limiits gun-dealer inspections to annually, civilians can't own automatic guns, federal government is forbidden to create a gun owner database. Brady Handgun Violence Prevention Act (1993) , known as the Brady Law, this legislation imposes a waiting period of 5 days after a person applies to purchase a gun. The waiting period is designed to give the FBI time to ensure that the person is eligible for buy a gun and that there is no reason to oppose it. Violent Crime Control and Law Enforcement Act of 1994 produces a 10-year federal ban on the manufacture of new semi-automatic assault weapons. The law specifies 19 weapons that have the features of assault rifles, including the AR-15, certain versions of the AK-47, the TEC-9, the MAC-10 and the Uzi, several of which had become the preferred weapon of violent drug gangs. The act also bans large-capacity ammunition magazines, limiting them to 10 rounds. The law does not apply to weapons that were already in legal possession, and there are easy ways to adapt new weapons to avoid the prohibitions. In 2012 President Obama vowed to impose new limits on guns and ammunition in the wake of the Newtown, Conn., shooting.