malkusm
08-27-2013, 04:04 PM
In short: the body of evidence seems to overwhelmingly suggest state use of escheat law as a form of non-tax revenue for general budget use. In insurers, real estate managers, and financial institutions, states have a captive, steady supply of property which may fit the ever-widening abandonment criteria and thus seized by the state. This revenue is more politically palatable for elected officials as it does not necessitate changes in formal tax rates. More worrisome, however, is the seizure of property for revenue which does not adhere to due process.
Full article at my blog here: http://oddsandmeans.blogspot.com/2013/08/escheat-law-revenue-motive.html
Please consider subscribing to my blog's Facebook and Twitter feeds (in my signature). Hope to produce a lot more political-oriented content along these lines.
Full article at my blog here: http://oddsandmeans.blogspot.com/2013/08/escheat-law-revenue-motive.html
Please consider subscribing to my blog's Facebook and Twitter feeds (in my signature). Hope to produce a lot more political-oriented content along these lines.