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At least 150 people were killed by gun violence in more than 400 shootings across the US during the Fourth of July weekend

Yes. I like your thinking. If someone can turn in a gun worth $200 and get $1,000, that means that they can buy 5 more $200 guns and get $5,000 for them. Then they could 25 $200 guns and turn them in for $25,000. That sound like a fantastic business model for entrepreneurs who might otherwise just be criminals. Gun manufacturers could then start producing more guns and more profit to be made. Everyone wins at taxpayer expense!
And those that don't give up their illegal guns can wait outside and shoot you, take your money, AND keep their gun. They still win.
 
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