GIFT CARDS- State trys to steal your money

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GIFT CARDS- State trys to steal your money - 11/17/2007 7:59:57 PM

openmindedslave

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Joined: 2/27/2005
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In the State of Maryland , there is a short fall in moeny to run the goverment. So a gov offical has prossed Bill 30 to help in funding education

This Bill would require any gift cards sold in the state of Maryland to , after one year, require the retailer to deduct from the card the unused amount and refund those dollars to the State for education.. It probably won't pass this year but it is the second year it has been considered.

Now think about it..Do you give gift cards? Do you have some around your home that were given to you that may have some value left? How would you feel if you bought a gift card, gave it out and for what ever reason, the person went to spend it and found out it was totally worthless? I mean talk about a scam worth Millions every year if past..
Does anyone else have this law or type of law in their state or Country???
Please Share Story?

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RE: GIFT CARDS- State trys to steal your money - 11/17/2007 9:16:01 PM

GoddessDustyGold

Posts: 2822
Joined: 4/11/2004
From: Arizona
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I have no idea...I do know that there are disclaimers on a few gift cards about a lack of use. 10% of the value is deducted for each specified time period (3 months - 6 months - 1 year, etc) that the card is not used. But there is no indication that the not used cash value is being turned over to the state for a governemnt program or education.
I actually wonder why lowering the value of the card for non-use makes any sense? It is a sneaky good deal for the business to take the cash and then refuse to give full value if it is not used within a certain period of time. Especially since My now devalued gift card is going to buy less with inflation!
I certainly hope that people do not fall for this, and vote "yes" even next year or the year after. It is just another way to tax. And while I may not agree that a private business is being smart by devaluing a gift card from a customer relations standpoint, I would really be upset to know that what I purchased in good faith is now being turned over to the government. I will have to pay attention and use My gift cards pronto (not usually a problem!), and refuse to buy them anymore as a convenient gift if this sort of thing starts becoming the norm.
It gets scarier and scarier out there!

< Message edited by GoddessDustyGold -- 11/17/2007 10:04:21 PM >

_____________________________

Dusty
They that give up essential liberty to obtain a little temporary safety deserve neither liberty nor safety
B Franklin
Don't blame Me ~ I didn't vote for either of them
The Hidden Kingdom

(in reply to openmindedslave)

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RE: GIFT CARDS- State trys to steal your money - 11/17/2007 9:47:23 PM

DomMeinCT