DISQUS

Ido · 2 years ago

Well, that's stupid...

A gift card is a product like any other product and I don't see how the government has anything to do with it.

Allow me to predict: in the off chance anyone actually thinks this is somehow a remotely good idea, and due to some terribly bad judgment this bill passes, every new gift card will come with no expiration date.

Which brings up an interesting question: how does this legislator suppose the expiring of gift cards should be monitored? I highly doubt every store and network keeps track of exactly how many of the gift cards printed are actually sold and how many are shredded.

Rogel · 2 years ago

The retailers keeps track on these cards, it is very important to them. Until the card is redeemed, or expired, it is part of the liability accounts. Once it expired it can be written as revenue.
Each card is, in accounting term and in actuality, kind of a loan from the gift card purchaser to the store - the make its profit from the improved cash flow, the interest and if the card expired from not needing to "pay" the loan back.
So in technical terms the government might be able to track and force such law. However it is still one stupid legislation :)

Ingrid · 2 years ago

wow Rogel, where do you find these nuggets of..ehm..what should we call them besides idiotic?? Some politicians seem to think that, when they sell it under the guise of improving schools, roadways and what have you, that everyone should just jump for joy? This guy should be booted out of public offense, heck, let's just call it 'pulling a Homer'...DUH!!
Ingrid