There was an idea to let GIs in Desert Storm bring back one enemy weapon apiece, along with a "free" tax stamp for the full-auto ones. The idea was that it was a free bonus (paid for by Saddam, and not the American taxpayer), and the returning GI could always turn it into legal cash if he wanted. Needless to say, that got shot down faster than an Iraqi MiG.
The idea was that legally-registered automatic weapons represent zero threat to the American people. The only crimes ever committed with the 500,000 legal Class IIIs was one robbery, with a stolen one, and one murder, by a cop using his registered weapon. Not much of a threat, statistically.
In Detroit, a "hot" AK47 goes for about $200 on the street. A legally-registered one, impossible for non-police to own in Michigan, would be worth at least ten times as much on the legal market.
The unannounced amnesty in 1968 made a lot of money for people who converted their illegal weapons into legal ones. A publicized amnesty today would "flush" a lot of weapons into the open, allowing people to stop worrying, and turn the item into something legal, and worth some significant money, even if the tax stamp had to be paid.
And if they do that, they should also allow a legal "freebie" for bringing back captured enemy weapons by our troops as a no-cost bonus.
This law I consider just one more effort to catch those who choose to ignore such revenue based socialist BS laws.......
Personally I never had a use for full auto even when I carried one. Bullet hoses are fun on the range when ya have free ammo from uncle sugar but a waste of money when ya have to foot the bill yerself....The NFA registered Classs III items I possess are investment buys unless of course TEOTWAWKI appears on the horizon :o)
Stay Safe Ya'll !!
I also hope that you realize that the law of supply and demand won't be repealed by this, or any other, proposed law. If this law passes and several hundred thousand legal machine guns are put on the market, prices will drop. That $2,000 gun will be going for $500-$1,000. And no, I don't own or sell machine guns - frankly I'd be happy to see the supply increase and prices drop, so that maybe I could afford one. But I'm still against this proposal, and any other one that will register weapons that are not presently registered.