Cash gifting schemes are all over the internet. They may be called Giving Programs, Cash Leveraging, or Cash Gifting, but they are all the same. The bad economy has provided a fertile ground for them to take root. According to these sites, all you have to do is send a gift of money and more money will come back to you. But, is this a legal way to boost your income, or is it nothing but a scam.
In many states it is nothing more than an illegal pyramid scheme and people who send money are unwittingly an accessory to a crime. Even though they appear credible, they rely on greed to make just a few people richer while the other approximately 88% will lose their money. Anyone who participates may be guilty of a crime, even if they did not benefit. Of course, the IRS will count that as taxable income whether or not it was obtained legally.
You can see many testimonials of just plain folk suddenly reeling in thousands of dollars per day. The truth, of course, is these are fake testimonials. The money just travels to the top of the pyramid where it benefits the person who started the scheme and a few at the top.
I understand, especially in this economy, the allure to bringing in a few extra bucks to help ends meet. I, too, would like something that will pad the ole bank account. But, it has to be legal and legit. This does not appear to be the one.
My advice is to stay away from these schemes.
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