I've seen property as discussed in this thread and others include intellectual property, i.e. copyrights and patents. Wouldn't another form of property be my bank account? After all, it's just a place I store my "property" in a form that's easily accessible and transferrable.
So, does the recent decision by SCOTUS mean that my financial property can be seized and given to some other giant account simply because the government can obtain more taxes from a larger account than they can from my small pittance?
If that is so, then what? Communistic "redistribution" of my wealth...my "property" that I worked my lifetime to accumulate?
Curious minds wanna know?
Heartbroken in Arizona
That particular battle was lost long ago, and it was even done proper with an admendment! The income tax has no limits on it, in theory they can sieze it all. It's pretty much been downhill ever since.
>>>Wouldn't another form of property be my bank account?
Already being done in NJ.
Any accounts that have been inactive for 3 years are seized by the state.
This is creating major problems for people that have bonds, renters securities and children's accounts.