Check out the interactive graphic to see
the actions of your state on gift cards.
Posted on 06/29/2009 7:33:34 PM PDT by GOP_Lady
Some states faced with sinking tax collections and rising debt are going after unused gift cards that bolster their revenue.
South Carolina is considering legislation that would give the state the right to collect unclaimed gift-card credit. A similar measure in Texas to allow the collection of unused credit even from cards that have no expiration date passed that state's House this spring and stalled in the Senate. Texas already collects unused gift cards with expiration dates.
Since the recession began, states have been aggressively tapping so-called abandoned property -- anything from gift cards to dormant bank accounts and safety-deposit boxes. About half the states collect unused gift cards after a period of two to five years.
(Excerpt) Read more at online.wsj.com ...
Check out the interactive graphic to see
the actions of your state on gift cards.
FREEDOM PING! :-)
How far we have sunk.
I fear for the Republic.
Lamh Foistenach Abu!
What Republic?
Criminal looters.
This is right up there with scummy practices like taking out loans on projected gambling/lottery revenues.
Texas is becoming a liberal nightmare. Anyone notice the nutso property tax bills? Think of it a s a wealth tax. You don’t OWN property in Texas, you rent it from school districts. Great way to piss away your freedom!
What makes govt think it should get this piece of the American Pie?
Wow, guess I should read the story first - this is far worse. I assumed EXPIRED gift cards only.
One more reason not to give gift cards - sheesh!
I have unused credit cards. I guess pretty soon the govt. will borrow in my name and let me pay it back.
Use them or lose them!!! :-)
Thieves.
Refuse access to your county property tax assessors. It drives them nuts!
They don’t care since google earth gives them all the info they need.
“I have unused credit cards. I guess pretty soon the govt. will borrow in my name and let me pay it back.”
PLEASE. don’t give them any ideas! This administration and many democrat controled, local governments may take that tempting target of “revenue” into serious consideration.
ping
This is nothing new but it is improved. In the past if you had unclaimed monies it had to be turned over to the state then they would hold until/if it was claimed by the rightful owners or heirs but the state kept the interest.
With the gift cards there is no way of knowing who the rightful owners are so the state gets the actual money.
Theft pure and simple
No kidding... it is like thugs rifling through dead people’s clothing to take valuables ... only thing different with these unused gift cards is that they belong to folk that are still alive.
This is approximately the same thing that happens with cash. Inflation eventually destroys the value of it. That is _hidden_ tax. At least this is explicit.
TEXAS?!
The retailers should get the money if a card “expires”. Consumers are stupid if they either forget, lose their cards, or let them expire. Just like with people who forget to send in warranties in time, the retailers should benefit.
Not sure how long the cash in my wallet's been in there. Might be approaching a week for some of the bills. Guess I'm obligated to spend it quick before the goobermint says "Well, he's not using it anyway, so....."
Next thing you know they’ll start rummaging through garbage cans for tin cans and bottles they can return for the deposit.
Gift cards to me are in the same category as gadgets or appliances with blinking lights, touch pads, and digital numbers. I don't want them. On & Off switches are about as complicated as I want. If I must spend time programming, figuring out what buttons to push, or typing in something I'll use the computer.
Stealing is now OK for the ‘good of the collective’?? The audacity of the idea even being considered is outrageous.
It is stunning to see that the spirit of this isn’t to protect consumers, it’s all about funding government bodies that FAIL to budget, FAIL to say no to spending, FAIL to have any respect for taxpayers, and FAIL to make strategic policies to limit tax burden to help keep wealth where it belongs!
And here in Washington, according to my dentist, they also get money abandoned in an account.
going after unused gift cards that bolster their revenue.
Desperation.
How do they collect?
I would imagine that the retailer has to report their sales of gift cards to the respective states.
Look a penny, grab it!
Bozo is driving the bus now, a very greedy, evil bozo.
As if the planned non cashed giftcard profit will not just be rolled over into more expensive gift cards...
This is socialism, the Government trying to play god and stealing or controling everything. Gee, I liked it when we were a Christian Nation a whole lot better. This hopey changeie thing sucks.
All yours moneys is ours.
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