WTF? Louisiana Bans Cash For Second Hand Transactions
I’m struggling to understand the reasoning behind this, much less the priorities that make the Louisiana legislature decide to make this move . 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. I don’t think this would hold up in court. Cash is legal tender of the United States government. How can a state legislature ban its usage? And frankly, I think the whole “helping the police” is a crock of bull. As banks start charging more and more fees for us to have the privilege of letting us access our money, I suspect that Rickey Hardy is doing a solid for his lobbyist buddies in the banking industry. h/t Balloon Juice
WTF? Louisiana Bans Cash For Second Hand Transactions
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on October 21, 2011. Filed under