Posted on 12/25/2006 9:13:03 AM PST by rellimpank
He says expired gift card money should flow to treasury
Incoming freshman Assemblyman Ruben Kihuen, a Las Vegas Democrat, would like to see expiring gift card money flow to the state treasury by defining it as abandoned property. Photo by Jeff Scheid.
CARSON CITY -- Incoming freshman Assemblyman Ruben Kihuen went out to dinner with a friend recently, planning to use a $100 gift card he had received last year as a Christmas gift to pay for the meal.
To Kihuen's dismay, the gift card had expired, meaning the high-end restaurant that issued the card had received a $100 windfall at the expense of the gift card giver.
Kihuen, a Las Vegas Democrat, said he would like to change this practice and instead have expired gift card money flow to the state treasury by defining it as abandoned property.
If a merchant has no address
(Excerpt) Read more at reviewjournal.com ...
If they ever invent a roach motel for politicians, it will be baited with money.
Yep. But places which issue expiring gift cards are equally greedy-- they get their money up front in today's dollars. Why should there be an expiration date at all? The issuers of these cards can sting the greedy politicians by making the expiration date 10 years or forever.
I tossed a Starbucks card last year, that my brother gave me. I wouldn't drink that monkey p!ss even if given to me.
As an afterthought, I shoulda at least gone through the drive-through a couple of times, and poured the crap out on the driveway as soon as they handed it to me.
Turned out they paid the rebates with something like a gift card. Unfortunately every time you used the card the merchant would need to both call the vendor and key in a vast mass of information.
We never were able to use up all the value in the cards. Complaints to Cingular went un-answered. No doubt they got a windfall.
Clue to Congress-critters and others ~ make these guys refund unused cash value on cards to the users by certified check.
BTW, and this is a warning ~ I've had considerable experience with all the major cell phone companies throughout the United States. The cheating, lieing, good-for-nothing, robber-baron, bottom feeding, scum-sucking slimeballs at Cingular appear to be the most responsive and honest in the lot. So, beware.
I'd like to see this little bass turd go on TV and explain to people why he thinks the government deserves to get this money. Just one reason. That's all I'd like to hear. Just one reason why he thinks the government is entitled to this money. My mind doesn't work like a Commie nanny stater's mind so I have a real problem with this.
One good thing about California - gift cards cannot expire, except in a very few instances, such as if you buy one for "the mall" which covers any store in the place...I believe they can expire, or have service fees, for some reason.
Poor attitude for a fine product and a successful business. Are you sure you aren't a latent liberal?
You want to explain to me why a gift card should expire? After all, it's paid for in cash. If it's going to expire, it should go back to the purchaser.
Well go with me here...
ALL states have an abandoned property law and any accountant can tell you about it.
There are lots of things considered abandoned property and some of them would surprise you.
First, the abandoned property law was at first targeted to banks. Indeed, money left in the bank and unclaimed must go to the state.
Second, did you know that if a vendor goes out of business and another business owes them money, that this money goes to the state also? Not that anyone does it or anything, but if Jane Doe hospital owes Jim Doe medical supply, and the vendor check CANNOT be properly delivered, the money owed the vendor should be turned over to the state.
I consult of a mobile home park and if an owner abandons a mobile home, it goes to the STATE, not the park owner.
The logic is, and there's some small amount of sense to it, that why the hell should the BANK get to keep the money? Why the hell should money owed to a vendor but unpaid for some reason, but why should this money remain with the debtor?
Based on an assumption that EVERYONE benefits in some fashion when unclaimed bank funds, for instance, is turned over to the taxpayers instead of the rich bank keeping it.
I'm not saying I agree with it or anything but just so you know there is a logic to it all. And every year big bucks go unclaimed.
I've filled a gazillion unclaimed property forms and I've always been pretty honest about it. Even that mobile home park, hey I figger let Delaware come and get that abandoned home, more power to them.
As for gift cards, well I dunno. But using the same logic as was used to set up an unclaimed property system in a state, well it would follow that this money maybe should go to the state.
But I dunno. When gubment gets money it usually goes to help political friends so I'm not sure I buy the original assumption.
But unclaimed property is a big deal and it's certainly not new.
I tried it once.....worst coffee I've ever had in my 50 years
Tossed it out the window before I got out of the parking lot
He's on solid ground in that the seller of the gift card is devaluing the dollar by the amount of the expired gift card.
I think it is a violation of federal law to devalue the worth of the dollar.
Typical Democrat, in his mind all money should go to the State, we live on a Allowance.
Pure Bull S*^%.
People should simply boycott store gift cards. They're scams, plain and simple. Buy the person a pre-paid debit card from a bank instead.
He's a democrat. That's enough reason for him. Besides, you need to do it "for the children"
There must be an exception in that law for politicians and central bankers.
I disagree with the idea that this money should go to the government (however I'm not suprised that a democrat proposed it). I think it should be refunded to the purchaser or, if that is not possible, given to charity.
I thought it was just me that disliked that highly-touted Starbucks black water. Must be a Liberal thing: say you like it just because you think you're supposed to like it, 'cause all the other Liberals like it. ;) They must burn the stuff on purpose.
What? That I see it foolish to spend $4 on something that needs syrup and cream to cut the rancid taste?
I can buy enough Folgers to last me a month for the same $4
Sorry my preference in coffee offends you so much.
Who's the closet Liberal here?
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