I would think that the 40% figure is pretty low. My entire life I have been around people who bought, sold, and traded guns without ever using a FFL dealer. My dad recently traded a john boat for a really nice shotgun, and I myself have traded 3 guns and sold a fourth in the last year, all without a FFL dealer or background check. I have even bought and sold several at garage sales. I believe that the NICS system would become completely overwhelmed and crash if it was forced to handle the actual true volume of gun exchanges. Besides, if they do mandate that all transactions are through FFL dealers, what’s to stop a person from backdating a receipt or bill of sale to the day before the new regulation was to go in effect?
BTW.....I also think the 40% number is way too high...Like Mr. Lott.
Most people buy gun's thru the "correct" channels.
Yes, I've purchased and sold some guns...from friends and to friends....but the great majority of guns are bought and background checked.
The higher the number the better it is for us. What it means is that background checks don’t make a difference. Bad guys are going to get guns any way they can. Background checks are an inconvenience, a simple security theater like the TSA.
This isn’t a “loophole” it’s proof that you don’t need background checks at all.