Is Cash Gifting Legal? Is it Ethical?

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) June 4, 2008 -- Cash Gifting Programs are extremely popular and can be very profitable but are they really legal? That is a very hotly debated point. The ones who are in the programs will tell you it is all totally legal. This is taken from the TOCS website:

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Is Cash Gifting Legal? Is it Ethical?

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http://www.tropicalabundance.com

"By definition, Cash Gifting is the act of privately or publicly giving another person or entity a declared sum of cash (strictly as a gift) and giving it freely without coercion or consideration. Cash Gifting is not a loan or a payment for goods or services. It’s called a cash gift because that’s exactly what it is...a gift of cash.

Over the years, there have been many opinions and thoughts as to the legitimacy of Cash Gifting as a viable and honest means of generating cash. But at the heart of Cash Gifting is a fundamental principle that is often overlooked and convoluted with greed and the love of money.

This principle is quite simple… to help your fellow man (or woman) through giving, and in return be recognized and rewarded for your participation in the giving process."

Here is another opinion taken from http://www.scam.com

"If you checked the IRS code (such as the oft-cited Publication 950) you would discover that, if you get something or somethings in return for your gift, FROM ANYONE AT ALL, exceeding the value of the gift, your gift ceases to be a gift under the law. As the FTC warns people, gifting statements are an attempt to make an illegal transaction look legal to the layman's eye. They do not fool the professionals nearly as well."
Here is a link that is very negative about gifting programs:
http://www.mlmwatchdog.com/RC_Gifting2.html

As far as the ethical question: You are sending large sums of cash to a stranger and you are signing a gifting statement that you don't expect anything in return. You are doing it because you want other people to send you cash gifts. That is the truth. That is not expecting nothing in return.
Your motivation is not giving: it is wanting to receive.

I personally was very close to joining The Overnight Cash System but something just didn't feel right about it. I found something that has even more leverage and a product that people would and do buy even without a income opportunity connected to it. The pay plan is the most powerful I have seen in 20 years in the industry. If you are considering joining a cash gifting program I recommend that you be sure you feel it is right for you.

More information can be found online at http://www.tropicalabundance.com

cash gifting     is cash gifting legal     jeff goodman     too damn easy