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This is REALLY BAD news!!

Offline Cobia

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This is REALLY BAD news!!
« on: October 19, 2011, 12:34:58 PM »
Cold hard cash. It's good everywhere you go, right? You can use it to pay for anything.

But that's not the case here in Louisiana now. It's a law that was passed during this year's busy legislative session.

House bill 195 basically says those who buy and sell second hand goods cannot use cash to make those transactions, and it flew so far under the radar most businesses don't even know about it.

"We're gonna lose a lot of business," says Danny Guidry, who owns the Pioneer Trading Post in Lafayette. He deals in buying and selling unique second hand items.

"We don't want this cash transaction to be taken away from us. It's an everyday transaction," Guidry explains.

Guidry says, "I think everyone in this business once they find out about it. They're will definitely be a lot of uproar."

The law states those who buy or sell second hand goods are prohibited from using cash. State representative Rickey Hardy co-authored the bill.

Hardy says, "they give a check or a cashiers money order, or electronic one of those three mechanisms is used."

Hardy says the bill is targeted at criminals who steal anything from copper to televisions, and sell them for a quick buck. Having a paper trail will make it easier for law enforcement.

"It's a mechanism to be used so the police department has something to go on and have a lead," explains Hardy.

Guidry feels his store shouldn't have to change it's ways of doing business, because he may possibly buy or sell stolen goods. Something he says has happened once in his eight years.

"We are being targeted for something we shouldn't be."

Besides non-profit resellers like Goodwill, and garage sales, the language of the bill encompasses stores like the Pioneer Trading Post and flea markets.

Lawyer Thad Ackel Jr. feels the passage of this bill begins a slippery slope for economic freedom in the state.

"The government is placing a significant restriction on individuals transacting in their own private property," says Ackel.

Pawn shops have been forced to keep records of their clients for years. However under this bill they are still allowed to deal in cash.

And we were discussing the pros and cons of business licenses, registrations the other day.

Re: This is REALLY BAD news!!
« Reply #1 on: October 19, 2011, 02:08:22 PM »
Makes no sense!

Offline alloro

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Re: This is REALLY BAD news!!
« Reply #2 on: October 19, 2011, 03:14:29 PM »
A state cannot supersede federal law. In other words, the Louisiana Legislature cannot legally pass any law prohibiting federal legal tender as a form of payment. A business can refuse to accept cash for various reasons, but that is an individual choice made by the business. I suspect that law will be overturned once it's challenged.

Re: This is REALLY BAD news!!
« Reply #3 on: October 19, 2011, 06:41:47 PM »
I think this is just a ploy to try and get more money from the ppl in that state. "Hey, if we can track all transactions, then we can tax those transactions..." Just another way for the greedy ppl up top to stuff more money in their bottomless pockets.  :P Blaaa


Re: This is REALLY BAD news!!
« Reply #4 on: October 26, 2011, 09:09:57 PM »
Makes no sense!

Of course it makes no's government BS.

Re: This is REALLY BAD news!!
« Reply #5 on: October 27, 2011, 07:47:54 PM »
Ya - my father and I was just talking about this law yesterday.  I was like you got to be kidding me when he told me.  I figure it will also be used soon to try and do a sales tax or income tax to those people at yard sales / flea markets and such.

Really hope the law is overturned as it will set a bad example.  With more banks now charging fee's to use your debit/credit card, some people are going back to a cash economy.

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