MEGAN MCARDLE: You Can’t Save Gun Control With Word Games. “Bans on ammunition sound clever, but probably not quite clever enough for the Supreme Court.”
I discussed this very topic in my Second Amendment Penumbras piece, though ammunition bans don’t really fall outside the core right. And putting a high tax on ammo would probably fail even minimal rationality, since it would punish honest recreational shooters (who shoot a lot for fun and practice) far more than criminals (who just need enough ammo to carry out a crime).