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The idea of forfeiture without compensation would also raise some serious 5th Amendment concerns.
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I think that's the biggest Constitutional problem of all. If a serious shooter has $10,000 - $30,000 worth of semi auto rifles and magazines, telling him that he can't sell them or transfer them is outright theft. No due process, no just compensation. If any confiscation actually ever occurred, seems to me they would just have to bite the bullet and pay gun owners for the items they demanded be surrendered.
Gregg