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What's the first thing people do when they hear about major shootings by a mentally unstable gunman? They go out and buy guns. These shocking news events tend to spook people, so they instantly take steps to ensure they don't fall victims to the next shooter. As an example, gun sales in Arizona rose 60% on the day after Congresswoman Gabrielle Giffords and others were shot on Jan. 8, 2011, according to the FBI's National Instant Criminal Background Check System.

More broadly, gun sales have been above historical trends ever since President Obama took office. Supporters of the Second Amendment to...