Recognizing that the proliferation of private firearms has become a far more serious problem than any problem it seeks to solve, we establish a federal system of gun liability insurance.
Funds for this pool of money will be collected from the owners of all privately owned firearms. This money will be used to compensate innocent victims of gun violence.
Insurance rates for each personal firearm will be assessed according to a rating scale of its potential lethality. Additional firearms will be assessed at a rate that includes lethality plus a steeply increasing fee for the added public danger of having multiple personal firearms in one location or owned by one party.