This gun is designed and built to smash things up and to set things on fire. It`s a battlefield weapon, and yet it is sold as freely on the American civilian market as a .22 bolt action rifle...I think it`s a great thing on the battlefield. I just think that there are certain occasions when we say in our society, this product is such a threat to our health and safety, and in this case, our national security, we will not allow it...it is a gun that is unparalleled by any other small arm available to civilians. We control every other kind of weapon of war you can think of -- machine guns, plastic explosives, rockets. This thing has flown under the radar for about 20 years...If you go through virtually any industrial state, you`ll see right off the highways all kinds of highly-toxic and/or flammable materials stored in big tanks. These are ideal targets...The point is that you can plan your attack from a longer distance. It`s the combination of range and power.

The AR-15 is, essentially, a gun that was designed to inflict maximum casualties, death, and injury, in close to medium range. That's what it does. The real problem is that we allow that kind of firepower to come into a theater or into a first-grade class. The names you see now are 'modern sporting rifle,' 'tactical rifle.' Those are all just euphemisms for 'assault weapon.' They're being very rational as marketers and as businesses—and as industries. They're only doing what cellphone companies do to make cellphones look different and be more attractive. The difference is what they're selling is lethality.

It's just a fact that hunting has been in serious decline, so those kinds of guns just don't sell as well. Well, you're in business, you got to sell something. These assault rifles — these military-style rifles — appeal to a broader range of people.

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Okay, so you're an hour outside New York City in Danbury. What does that mean? Do you think an army of terrorists is going to come rampaging out of New York? There are some suburban and rural communities where fair-minded analysis would say this is ludicrous. The likelihood that these kinds of incidents are likely to occur is nil...Most rounds miss the target. That's an established fact. More bullets are going to fly where they weren't intended, and they're going to go farther and strike with a greater impact. S.W.A.T. and sniper teams are highly trained and selective enough to use these weapons. But if I were putting them in every patrol car in the jurisdiction, I would be very concerned about the amount of firepower.

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Given the development of a whole sniper culture over the past 10 years, it was almost inevitable that some deranged person or a terrorist was going to be drawn in to acting out the sniper mentality. The sniper's motto is, 'One shot, one kill.' That's what this guy has been doing right here around our nation's capital...In order to rejuvenate its sales, the gun industry has gone out and marketed sniper rifles.

The smart gun is a hoax. It's a very seductive hoax, but nevertheless it's a hoax. At bottom, this is a ploy, a very clever ploy, by the gun industry to use your tax dollars and my tax dollars to expand its markets. You'll never be able to come up with a system that's going to make handguns safe, to make handguns go away, until we say, 'We've got an industry that pours onto our markets millions of deadly, lethal killing instruments. And we've got to stop that.' I feel that the smart gun ultimately will take more lives…than it will save.

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The Bushmaster a variant of a type of gun called the AR-15 ... which was designed and developed for military use roughly during the Vietnam War period. It is one of a variety of assault rifles that militaries of the world developed when they realized that most soldiers do not — when they're engaged in combat — do not take accurate aim, do not fire at long distances, but rather just spray bullets in the general direction of the enemy at short to medium range. When the military accepted this as a fact — that soldiers are not marksmen, and they tend to just fire in bursts at ambiguous targets, and in fact most battlefield injuries are the result of just being where the bullet is and not someone actually aiming at you — the militaries of the world said, 'OK, we need a type of gun to give our soldiers that will do just that.' ... This was the genesis of the assault rifle. The first one was developed by the Germans in 1944. It was called the StG-44. The Soviet army quickly ... made a design similar to it, which is called the AK-47, probably the most widely used rifle in the world.

Those design features in a civilian market have horrific consequences. So you can call it whatever you want — tactical rifle, black rifle, assault rifle, modern sporting rifle. It has the capability that the military wanted for warfare...It's just a fact that hunting has been in serious decline, so those kinds of guns just don't sell as well. Well, you're in business, you got to sell something. These assault rifles — these military-style rifles — appeal to a broader range of people.

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I think that in the long term, the nation is going to reject this unbridled kind of gun culture. But I think it's going to take a long time. Colorado is a true test for those actually in the trenches, but it might also be a wake-up call -- nothing is easy, and pouring money in from Bloomberg is not a magic solution.