Life is better with freedom.
States go after unclaimed property, use it to patch budgets
REVIEW OF THE INCIDENT:
Unclaimed billions: States patch budget holes using residents' forgotten bank accounts, stocks.
So some of the state governments are getting more aggressive going after your assets if you did not contact the company that holds your cash, stocks, bonds, safety deposit boxes, etc... for a while.
The rule used to be if you did not contact someone that is holding your assets for a while that the government considers that account abandoned and the company holding your assets has to hand them over to the government and the government can spend your money as if it was theirs.
The government used to wait five years before doing this but now they decided to cut it down to only three years. Also if the government seized your assets they were suppose to send you a letter to let you know so you can claim it. But they got rid of that rule too because it is a hassle for them to locate your address. Seems it is not a hassle for the IRS to find you if they claim you owe them money.
Gilles Gosselin and Jean Louis Imbach, French chemists who developed a drug for treating hepatitis B, became major shareholders of a company incorporated in Delaware to develop it. In 2009, without contacting them, Delaware took control of their stock, deeming it abandoned. Next, the state sold the shares for $1.7 million.
As Gosselin and Imbach worked to track down their shares, the drug company was acquired by pharmaceutical giant Merck & Co., in a 2014 deal that valued the researchers' stock at $13.7 million. Delaware turned over only 1.7 million dollars to the owners of the stock, the owners lost $12 million dollars due to the actions of the government.
SUMMARY:
This is just out right theft by the government. They are just grabbing peoples stuff and hoping to get away with it. If something is wrong for and individual to do, it is also wrong for government to do. It is wrong for and individual to steal and it is also wrong for government to steal.
QUESTIONS:
- Is it fair to say, wrong is wrong, no matter who does it?
- Can you delegate to another human being a right that you do not have?
- Can two people delegate a right to a human being that neither of them have?
- Can seven million people delegate a right to a human being that none of them have?
- Can someone delegate the right to steal my money to government?
- Can seven million people delegate to government the right to steal my money?
- Can anyone in government have a right that I do not have?
- What is more dangerous, freedom or a government that has authority over you?
- Is government the biggest violator of our individual rights?
- Do people have the right to defend themselves, there rights, and there property?
- Is it fair to say, if people do not defend there rights, they will end up losing them?
- Is it fair to say, if it becomes common for people to violate your rights, then in a way you have already lost your rights?
- If a person is harming you, stealing from you, threatening you, or violating your rights, is he a criminal?
- If government is harming you, stealing from you, threatening you, or violating your rights, is it a criminal organization?
- Do we have an obligation to obey criminals?
- Do we have an obligation to obey a criminal organization?
- Does anyone have the right to claim ownership over you?
- Do you own yourself or is someone else your master?
- Do you have an obligation to obey government?
- Should interactions between people be voluntary?
- Should you respect the rights of others?
- Should people respect your rights?
IN CLOSING:
All people are created equal and have certain individual rights which are the right to life, liberty, and the pursuit of happiness. Individual rights cannot be taken away. We can do as we please within our rights, as long as we do not violate the rights of others.
We have the right to self-ownership. Self-ownership means not only that you own yourself, but everyone owns themselves. The best way to ensure respect for our self-ownership is to respect the rights of others. Without self-ownership, there is no freedom. No one can claim even partial ownership over you without violating your rights. Taxing individuals without there consent is theft and a violation of our rights.
We have the right to defend ourselves and our property. We never have an obligation to let anyone commit aggression against us. No one has the right to harm you, steal from you, threaten you, or violate your rights.
All interactions between people should be voluntary.
To help secure our individual rights, governments may be created, deriving their powers from the consent of the governed. Whenever any form of government becomes destructive to these ends, it is the right of the people to alter it, abolish it, or withdraw there consent to be governed.
If a person is harming you, stealing from you, threatening you, or violating your rights, he is a criminal.
If government is harming you, stealing from you, threatening you, or violating your rights, it is a criminal organization.