Those who are always accusing people in the private sector of “greed” almost never level that charge against the government, no matter what it does. Indeed, the question of whether the government is greedy almost never comes up, so most of us probably never think about it.
The government doesn’t have to prove that you are dead. The fact that your bank account had nothing added to it or taken from it for a few years is enough. Apparently politicians cannot imagine how someone would have money and not spend it, unless they were dead.
Escheat laws are just one of the ways governments seize money. Income-tax rates have been as high as 90 percent in the top brackets. Even after you have paid the taxes on your income and saved or invested part of what is left, the government comes back to take more of that same money, after you die, with estate taxes.
Perhaps one of the most unconscionable acts of greed by government is confiscating people’s homes, in order to turn this property over to other people, who are expected to build things that will pay more taxes.
The Constitution allows the government to take private property for its own use, provided “just compensation” is paid. That way the government can build reservoirs, bridges, or highways, for example, even if that requires displacing some people. But judges over the years have expanded this power to include taking private property just to turn it over to some other private individual or business. (Source: NRO)
Awesome analysis by Thomas Sowell. It is interesting how this all-out “greed” was allowed to grow unchecked. The question is are things about to change starting in November.
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