The true cost of guns

2017-Oct-04, Wednesday 17:35
mindstalk: (Default)
[personal profile] mindstalk
2015 Mother Jones article:

'Mother Jones crunched data from 2012 and found that the annual cost of gun violence in America exceeds $229 billion. Direct costs account for $8.6 billion—including long-term prison costs for people who commit assault and homicide using guns, which at $5.2 billion a year is the largest direct expense. Even before accounting for the more intangible costs of the violence, in other words, the average cost to taxpayers for a single gun homicide in America is nearly $400,000. And we pay for 32 of them every single day.

Indirect costs amount to at least $221 billion, about $169 billion of which comes from what researchers consider to be the impact on victims’ quality of life.'

By contrast, the gun industry is $13.5 billion/year.
If we estimated the positive utility of gun ownership at $1000/year for each of 100 million gun owners, that would be $100 billion... still a huge social cost.'

(Also, social cost of motor vehicle crashes is estimated at $871 billion.)

Gun industry revenues are a whopping $13.5 billion/year.

Assuming 100 million gun owners, the utility to each of gun ownership would have to be $2300/year for society to be breaking even.

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