Gun violence costs the United States $200 billion each year via YahooFinance
The two mass shootings over the weekend in El Paso, Texas, and Dayton, Ohio, left dozens dead and even more injured. As of Aug. 5, there have been more than 250 mass shootings in the country; at the current rate, the United States will be on pace for more than one mass shooting a day. Each shooting is an American tragedy with far-reaching impact.
Dr. Joseph Sakran, director of Johns Hopkins Emergency General Surgery and one of the study’s authors, says that the figure only accounts for hospital care, and does not include societal costs. “When you look at those costs, it is clear that number is much higher, with estimates at $229 billion,” Sakran said. “Our number of $2.8 billion is also perhaps conservative, and from one database. There are some other estimates looking at direct expenses such as emergency and medical care, at $8.
According to information compiled for Yahoo Finance by the research organization the Institute for Economics and Peace , the cost of gun violence amounts to $200 billion each year, taking into account costs relating to health care, the judicial system, local economies, among others. “To put this into perspective, this is twice the size of the GDP of Hawaii or New Mexico ,” IEP tells Yahoo Finance.
According to the Social Security Administration, the average wage in 2017 was roughly $49,000. Assuming that a person earns no more over their lifetime, the economy loses $2 million for every young adult killed from gun violence. As a rough sketch, that means if every person who unfortunately died from gunshot wounds in 2018 were 20 , the United States would have lost $29 billion in potential earnings — in just one year.
The answer can be found in the “the Dickey Amendment.” In 1996, Congress cut funding to the CDC after a controversial study about gun ownership was released. The cuts effectively ended their research on gun violence as a public health issue.
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