Mom won't legally own it either. If the thugs don't know about it, why would they steal a gun for the tax credit?
Don't get me wrong, it's an incredibly stupid bordering on moronically fiscal-suicide bill, but all of your arguments are circularly self-defeating.
The actual results will be what people are already figuring out.
Step 1, buy 28 guage Rossi Circuit Judge for $665.
Step 2, Turn in for tax credit.
Step 3, Profit, while Uncle Sam wonders why the hell Rossi is making more money than they are.