Escheat Law: A Revenue Generator for States

[malkusm]

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.

[ClydeCoulter]

I tried to FB Like the article, but cannot see the FB popup. Only one line is displayed and I am unable to see the "post" button. (using IE 10)

[malkusm]

Sorry about that - I don't have IE 10 but if anyone else does perhaps they can help me test that as well :o

If you want you can go to the page directly from my signature - the "Like" button on the blog itself redirects there (or at least it's intended to!).

[CaseyJones]

bump

[malkusm]

One self-bump for the morning crew :)