States go after unclaimed property, use it to patch budgets

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• When you make so many off the wall promises about spreading around the wealth and can't deliver, the fools that made the promises turn to stealing it from those who have earned it.

  When the pushing and shoving turns to other means of re-acquiring the assets that they've worked for, it will be on and full scale.

• This begs the question, what are they going to do next time more money is needed?

  • Confiscate the private 401s, 457s and ERAs of those of us who have sacrificed and put something away for when we retire.

    • You mean like this Teresa Ghilarducci broad?

      http://www.usatoday.com/story/money/2015/03/16/ozy-teresa-ghilarducci-revamp-retirement-savings/24842705/

      Emily Cadei, OZY 10:46 a.m. EDT March 16, 2015

      Being an economist isn't often a path to fame, but Teresa Ghilarducci found her 15 minutes — and so much more — about seven years ago, when she went to testify before Congress on the intricacies of retirement savings. Overnight, she became a star. That is, if being branded "the most dangerous woman in America" or landing in the sight lines of a chorus of talk-radio characters counts as stardom.

      The moment was propitious, in a way. Stock market vagaries had gutted millions of Americans' savings, and though Ghilarducci wasn't exactly celebrating, the crash did validate two decades of work and "every single one of my predictions" about the dangers of 401(k)s, she says. Her alternative is bold: She'd chuck the tax break people receive when they put money into the retirement accounts known as 401(k)s and use the savings to create an entirely new system run by the government. Terms like "government run" and "eliminate tax breaks" are catnip to the right, and Ghilarducci became, for a time, its favorite scratch pole: The woman who wants to "nationalize" 401(k)s, and the like.

      ...& before anyone here blows this off, she is being taken seriously by too many on Capital Hill for this to be considered a joke.

    • That's the whole plan, debts over pension plans don't matter when you can steal trillions from those who were trying to save for their retirement. It will be under the usual guise "we will put into a lock box".

      • The second the rumblings are noticeable, I'll close out our IRAs, penalty be damned! Fortunately, it's not too far off that we can close them without penalty.

        • That's one of the first things I did when I could, closed out my IRA and ran with the money. I don't know if it is much safer where I have it invested now but at least the gooberment might not get to it so easily.

        • I will have it all in silver in a safe. "Can't touch this!"

• With the government Whats Mine is theirs seems to be the rule, not the exception.

• States already go after claimed property, it is called income taxes and property taxes.

  • Don't forget eminent domain.

    • I don't think anyone outside of some =real= radical and fringe movements has ever questioned the legitimacy of either taxes or eminent domain.

      Eminent domain is provided for in the Constitution, you know, even if it doesn't use that exact phrase. The only real controversy over it right now stems from Kelo, and if you don't understand the issue there you have no business talking about it.

      Taxes? Again, who in their right mind has ever questioned the authority of lawful and legitimate government to tax?

      Anyway, Massachusetts has a massive ad campaign on the radio to get unclaimed property back. And absolutely ffkn stupid, annoying, obnoxious ads. Included among the many I just automatically hit the Off switch for now.

      • I don't question the legitimacy of taxes, as long as they're reasonable taxes, and provided for in the Constitution.
        There is nothing in the Constitution about providing illegal immigrants with money from the public treasury, or providing them with food, housing, etc, not to mention allowing them to vote.

        • And if you actually OWN the property, instead of renting it from the government, it can't be taken by imminent domain, by the IRS, , or anyone else. To OWN the land, it must be patented.

        • I live to far out in the sticks to worry about imminent domain but I still have to pay state property taxes on the land I own. If I don't the state can file a lien against the property, put it up for a tax auction, and steal it from under my feet. The taxes on unimproved pasture land in New Mexico isn't that high but who knows? The way the loons in Santa Flush keep screwing things up they may decide to raise property taxes through the roof.

        • If the land is patented, the title is clouded beyond the point of the state or anyone else being able to put it up for sale. They can apply a lien, but it won't do them any good. Even when you die, the title is clouded. The only way to clear it is for YOU to remove the patent.

          I know, I had a patent on my property in Joshua Tree, CA. The county recorder tried to refuse to record it, I guess the gubmint don't like us having that kind of control. I had to research the California laws to find the one that stated that he HAD to record it. They were NOT pleased.