South Florida gun dealers are warning that a ban on assault weapons, as President Obama is asking from Congress, will result only in a new flood of higher-priced weapons on American streets.
Hialeah gun factory owner Antonio "Tony" Vega says fundamental economic principles kick in every time gun owners feel their rights are under threat.
He told the Miami Herald sudden increased demand for powerful weapons raised the price substantially during the presidential campaign on fears that Obama would win and crack down on gun ownership.
“It’s a totally wrong measure. It will be catastrophic,” Vega said. “This will backfire on the government because banning assault rifles will lead to more speculation, and these weapons will be more coveted and traded without control in the black market.”
The price of AR-15 rifles assembled in Hialeah went up to the point of doubling — from a little more than $900 to $1,800 after a gunman killed 20 children and six adults at a school in Connecticut.
The president on Wednesday signed 23 executive orders that he hopes will help keep dangerous weapons out of dangerous hands. But the big items on his agenda -- the ban on assault weapons and high-capacity magazines and background checks for all gun sales -- must be passed in Congress.