Dumb Laws have Consequences. Greedy Laws are even Worse.
This is the kind of story that makes a libertarian like me sneer and chuckle with delight in the same story:
Apparently, the wastes of human flesh at the state capitol in Trenton are getting their fingers slightly burned for reaching a little too far into the cookie jar. Personally, I'd prefer to see them hacked off with blunt axe. Pardon my violent tone, I'm just in a rather edgy mood. ;-)
After already having passed a law that allows the state of NJ to seize "unclaimed property" in form of unused gift cards and traveler's checks and the like, which allowed the state "claim" $79 million in 2011, they are upping the ante by having sellers of such property register the buyers by zip code.
Now that the lawsuits and injunctions that followed the passing of the law have been lifted (funny...I guess the courts and legislature are on the same page here...creepy), American Express and 2 third party sellers of gift cards will cease doing business in NJ.
Three cheers for these companies. I love it.
Those slimy, elected beacons of democracy have no shame.
Submitted by John on Fri, 2012-04-06 18:32