Effectively, it's just like CCW, although they had the honesty to call it a tax back then. (Well only because the tax power was the only way the courts would let them do what the Constitution clearly said they could not do. Times have changed) It comes down to begging the government for a license to exercise your Constitutional right.
However things can be set right by increments. To start, eliminate the tax, or at least reduce it to a fee to cover the costs of issuance. Remove the CLEO sign-off requirement, and make it "shall issue" and base it on the same instant background check as for other arms.
Start by repealing the 1987 gun-control act in toto. That's a real worm in the apple. Wonder what triggered that ban on production of full-auto weapons for civilian use?
But it needs to be found unconstitutional. A Class III FFL challenged the law in court, but SCOTUS wouldn't give him a hearing -- simply refused cert. They wouldn't do that to an Attorney General of the United States.
Time to get busy. Paging Dr. Emerson, Dr. Timothy Emerson, please!