This was a little tidbit in the news recently. While efforts to raise the tax on a gallon of gas 50%, jack up the price of a car by up to $3,000, and add 1% to the state sales tax have grabbed headlines recently in Maryland, one legislator has come up with the bright idea of a fund that will take in the proceeds of gift cards that the state would consider forfeited property after four years.
Joseline Pena-Melnyk is the leader among 38 sponsors (none local) in the House of Delegates for H.B. 1080, which creates the "Maryland Education Fund". By fiscal year 2012, estimated revenue from this bill would be close to $100 million. So those gift cards you may stash in a drawer and forget about will become state property in 48 months.
Of course, that's just the start. You know that sooner or later, the General Assembly will push the time frame back to 24 months, then to 12. Regardless, when someone gives you a gift card, you already have to pay sales tax on what you buy with it (in most cases) so forfeiting the leftover dollar or two (or the entire amount if you don't use it at all) simply amounts to a sneaky extra way for the state to dig into our collective pockets.
The hearing for the bill was held last week, but no committee vote has been held on H.B. 1080 yet.
I know the state faces a structural deficit in coming years, but could it be that maybe, just maybe, we look at ways to cut spending instead of automatically looking to the taxpayer to pick up the slack? Or, if you really must enhance revenue, start by not giving illegal immigrant children in-state tuition.
Sooner or later, the taxpayers of the state will get it. I just hope it's before what we get is the short end of the stick shoved where the sun doesn't shine.