There's an old word for this...
Posted on 11/08/2007 5:52:42 AM PST by Reaganesque
I was listening to the radio this morning when I heard of a bill that has been proposed in the Maryland Legislature. House Bill 30 states:
From the summary:
From the bill itself:
(C) (1) THE BALANCE REMAINING ON A GIFT CERTIFICATE SHALL BE PRESUMED TO BE ABANDONED ON THE LATER OF:
(I) THE DATE THAT IS 4 YEARS AFTER THE DATE THE GIFT CERTIFICATE IS PURCHASED; OR
(II) THE DATE THAT IS 1 YEAR AFTER THE DATE OF THE LAST PURCHASE MADE USING THE GIFT CERTIFICATE.
(2) ON OR BEFORE MARCH 1 OF EACH YEAR, A PERSON THAT SELLS OR ISSUES GIFT CERTIFICATES IN THE STATE SHALL REMIT TO THE COMPTROLLER THE BALANCE REMAINING ON EACH GIFT CERTIFICATE THAT WAS PRESUMED ABANDONED DURING THE PREVIOUS YEAR.
(3) ON OR BEFORE APRIL 1 OF EACH YEAR, THE COMPTROLLER SHALL DISTRIBUTE THE REVENUES RECEIVED UNDER PARAGRAPH
(2) OF THIS SUBSECTION TO THE MARYLAND EDUCATION FUND ESTABLISHED UNDER § 5–201.1 OF THE EDUCATION ARTICLE.
(Click on "House Bill 30" title at the top of the summary page for the full PDF copy of the bill.)
I bet you 90% of the people in America believe that they can "stick it to the man" like this. What they don't realize is that they're not in control.
Liberals have no idea how businesses operate or how the capitalist system performs.
The scary part is, I think they *DO* know how it works and choose to work against it.
In the case of the liberal leadership, you're doubtless correct.
In terms of the liberal "rank & file", however, they have no idea how it works. Take my sister, the social worker, for example.
She believes taxes should be raised. Why? To punish "the rich and the (evil) corporations", that's why.
What would that accomplish, I ask. It "would make it fair", she responds.
Based on prior experience, a tax increase on the rich would actually shrink government revenues, say I. Further, it would cause many people -- a lot of them "poor" -- to lose their jobs. Finally, corporations don't pay taxes -- they pass them along to the consumer. So, it would be we -- and the poor -- who would pay higher taxes on corporations. The rich would still be rich, but the poor would be poorer. How is all this "fair"?, I ask.
"I don't want to talk about it anymore."
The conversation endeth...
The business contributed nothing. Their interest in the transaction has nothing to do with "gifts" or "gift taxes". The concept of "gift" exists between the purchaser of the gift card and the eventual recipient of the card. The concept of "gift" has nothing to due with the business that sells the card.
You are very very confused.
There's an old word for this...
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