A study shows that, long term, these programs result in more guns. How?
Well, imagine you see a product advertised on late night television that looks awesome, but that you're not sure you want or need. For example, some new combination lawnmower and treadmill that we'll call a lawnmill (patent pending). But, you remember that you don't actually have a lawn, and that 100 percent of treadmills wind up getting turned into expensive coat racks, so you resist the urge to grab the phone.
"Don't look at them, honey. Just keep walking. They'll only spend your exercise on crack."
Now imagine that the government has made a promise that they will pay cash money for any unwanted lawnmill (no, wait -- treadmower!) you have, no questions asked. Suddenly there's less financial risk in ordering -- if it turns out you don't want it, you know you have a waiting buyer.
The same thing applies to guns. Those who aren't sure if they actually need one are more inclined to buy one if they know they can cash it back in if they change their mind. Or say they have a small, shitty gun and are thinking about upgrading. Hey, just sell the shitty one to the government, earn a tidy profit, and put that cash toward the purchase of a brand new, much more lethal weapon!
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Squirrel hunting just got fucking awesome.