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"Its not the cost of the silencer that prevents me from owning one or even the cost of the tax stamp. The procedure to get one is a pain (or appears to be when I look at the forms) and is enough to prevent me from going forward in acquiring one."
That's the plan. Back when the NFA regs were written, $200 was a pile of money AND the paperwork tied the item to a specific individual. So, not only did the fee put ownership of the NFA items out of general public's pocketbook, the regs prevented an individual from "straw manning" an item and passing it to another who wasn't legally eligible to possess the item.
Just another way for the generally ineffective law enforcement of the day to have some leverage against the gangsters who ruled the era.
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