Random Nuclear Strikes

It is just that simple.

The 50 U.S. states are holding more than $32 billion worth of unclaimed property that they’re supposed to safeguard for their citizens. But a “Good Morning America” investigation found some states aggressively seize property that isn’t really unclaimed and then use the money — your money — to balance their budgets.

Unclaimed property consists of things like forgotten apartment security deposits, uncashed dividend checks and safe-deposit boxes abandoned when an elderly relative dies.

Banks and other businesses are required to turn that property over to the state for safekeeping. The problem is that the states return less than a quarter of unclaimed property to the rightful owners.

…..

California law used to say property was unclaimed if the rightful owner had had no contact with the business for 15 years. But during various state budget crises, the waiting period was reduced to seven years, and then five, and then three. Legislators even tried for one year. Why? Because the state wanted to use that free money.

“That’s absolutely correct,” said California State Controller John Chiang, who inherited the situation when he came into office. “What we’ve done here over the last two decades has been dead wrong. We’ve kept the property and not provided owners with the opportunities — the best opportunities — to get their property back.”

Chiang now faces the daunting task of returning $5.1 billion worth of unclaimed property to people. Some states keep their unclaimed property in a special trust fund and only tap into the interest they earn on it. But California dumps the money into the general fund — and spends it.

“It’s supposed to be segregated and protected,” Palmer said. “California has taken all of that $5.1 billion and has used it as a massive loan.”

California became so addicted to spending people’s money, that, for years, it simply stopped sending notices to the rightful owners. ABC News obtained a 1996 internal memo in which the lawyer for the Bureau of Unclaimed Property argued against expanding programs to notify rightful owners. He wrote, “It could well result in additional claims of monies that would otherwise flow into the general fund.”

I expect nothing less of them.

You all do have your Last Will and Testaments up to date with all the correct and pertinent information of your property, right? (The Mom will be getting her wish grated within the upcoming weeks as The Wife and I get our updated and finalized).

Found viz The Classic Liberal

We must not have enough semi-tractors to handle the work.

Oh, we do?

Well then, we must not have enough drivers to pilot the tractors.

Oh, record unemployment?

Well then, I’m at a loss as to why you and I are paying to upgrade semi-tractors owned by Mexican operators so that they can haul trailers throughout the US.

In the latest effort to accommodate its cherished trade partner in the south, the U.S. government is paying to upgrade outdated Mexican trucks that hemorrhage illegal amounts of exhaust on their trips north to deliver merchandise.

The Mexican trucks enter the U.S. under a 17-year-old international trade pact known as the North American Free Trade Agreement (NAFTA) and they’ve created an air pollution crisis. The air quality in border towns has been especially impacted by the exorbitant levels of exhaust released by the Mexican trucks, which also fail to meet American safety standards.

Since the Mexican truckers have no intention of fixing the problem, Uncle Sam has stepped in to save the environment. U.S. taxpayers have picked up the cost to replace old mufflers on dozens of trucks and many more are scheduled to be upgraded by the middle of this year. The unbelievable story was reported this week by an Arizona newspaper that says replacing the old mufflers with new catalytic converters will reduce harmful diesel emissions by up to 30%.

I’m just kidding about being at a loss. The administration cares more about keeping Mexico happy than about Americans being employed. It’s really just that simple.