The answer is yes and no. It depends on the honesty of the hunter and their willingness to observe catch limits and obey hunting laws. Much of the money that hunters put towards buying licenses and federal stamps goes towards funding conservation projects. State departments of fish and wildlife spend millions of dollars every year, from hunting licenses, to help conserve public hunting lands and ensure healthy mating seasons and habitats for hunted animals. keep in mind, it is in a hunters best interest to preserve the number animals so they may have something to hunt in the future.
As a matter of fact, if done responsibly, hunting and fishing can be beneficial to the environment. Hunters and fishermen who use sustainable practices and eat the animals they kill are just as beneficial to the environment as vegetarians, in terms of eliminating the need for factory farms. Hunting can also help with population control of certain animals (which, granted is often only necessary because humans have wiped out their natural predators).
Trade associations of hunters and fishers support a lot of policies that protect the environment since they want to be sure their hunting grounds are protected. Some of them have come out in support of a federal climate bill in the US, for instance.
Commercial hunting, at the turn of the century, was horrible for the environment, especially waterfowl. Since that time, state fish and wildlife services have introduced conservation taxes on licenses, firearms, sporting gear, and ammunition. These taxes have actually funded the purchase of conservation land as well as species reintroduction programs. The taxes also benefit animal populations by paying the salaries of Fish and Wildlife biologist who tally wildlife populations and set hunting quotas. Completely banning hunting would be counterproductive, at least for large game, because there are very few large predators left to control their populations. Deer populations have become a real public safety problem in suburban areas where hunting is banned (see article from my home town below).
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