Silly Taxpayers! Only Government Should Invest in Gun Companies!
So, we’ve already established that the gun-hating government of New York has spent nearly $6 million in taxpayer money to subsidize the New York-based Remington Arms Co., which manufactures the politician-hated Bushmaster rifle used in the Newton school shooting. We know that New York is part of a group of states (including Arizona, Arkansas, Florida, Kentucky, Maine, Massachusetts, New Hampshire, and Oklahoma) that has doled out more than $19 million in subsidies and targeted tax breaks to gun manufacturers over the past decade.
In between gifting gunmakers and trying to outlaw their products (or I should say, their competitors’ products; we can always carve out exception for hometown factories, amirite Joe Lieberman?), politicians are now pressuring state-run pension funds to disinvest from gun manufacturers, and even using their bully pulpits to shame the banks that lend to them. From the New York Times:
Fresh from persuading a $5 billion pension fund in Chicago to divest from companies that make firearms, the city’s mayor, Rahm Emanuel, on Thursday urged the chief executives of two major banks to stop financing companies “that profit from gun violence.”