Liberals will stop at nothing in their efforts to ban guns.
And with the backing of Billionaires like Michael Bloomberg, their efforts are well financed.
Now things have taken a turn for the worse for gun owners as America’s second largest bank made a shocking announcement that could bankrupt gun manufacturers.
Bank of America declared they will no longer loan money to companies that make “military-style” weapons.
The Washington Times reports:
The second-biggest U.S. bank announced Tuesday that it would drop current loan-customers Vista Outdoors, Remington and Sturm Ruger, and blackball any other manufacturer of assault weapons.
Bank of America Vice Chairman Anne Finucanetold Bloomberg TV on Tuesday her bank has told those companies “it’s not our intent to underwrite or finance military-style firearms.”
“We have had intense conversations over the last few months,” Ms. Finucane told Bloomberg, a network founded by tycoon and gun-control-financier Michael R. Bloomberg. “And it’s our intention not to finance these military-style firearms for civilian use.”
When asked whether Bank of America would also boycott retailers who sell such weapons, Ms. Finucane parried the question and didn’t rule it out.
“That’s a good public dialogue, but that’s a ways off,” she said.
Vista Outdoors also makes popular outdoor products such as CamelBak, Camp Chef, and Bushnell.
When outdoor outfitter REI announced they would discontinue selling Vista products because they own Savage Arms (which manufactures six models of AR-style rifles), Outdoor Life was quick to point out the unintended ramifications of such an act.
Of all the companies Vista owns, none contribute more money to habitat, wildlife, and public land than its firearm and ammo makers. This funding comes through the Pittman-Robertson Act, which puts an 11 percent excise tax on manufacturers of guns (including ARs), ammunition, and archery equipment.
Hikers, birdwatchers, and cyclists who enjoy public lands benefit directly from ammunition and firearm sales (including AR-style rifle sales). And, Pittman-Robertson funds are apportioned through a formula that accounts for hunting-license sales numbers. So the more hunters you have in your state, the more Pittman-Robertson funding your state receives.
There is no equivalent excise tax on climbing gear, mountain bikes, hiking packs, or tents. In fact, the Outdoor Industry Association, which represents outdoor gear makers, opposes such a tax (the idea is commonly referred to as the “backpack tax”).
So while the liberal gun-grabbers continue in their march to repeal the Second Amendment, they may be unwittingly defunding “the nation’s oldest and most successful wildlife restoration program,” according to the U.S. Fish & Wildlife Service.
Be sure to throw that factoid out the next time one of your liberal friends or family members talks about how terrible firearms manufacturers and gun owners are.