Crown Preference - ORIGINS AND JUSTIFICATIONS

The government's favored treatment for its revenue claims is of ancient origin. In England, the Crown prerogative dates from feudal times. It entitled the monarch to an absolute priority for revenue-related debts upon the insolvency of an English subject.

As English common law was exported to other parts of the world, the idea that the government was entitled to priority for its revenue claims found expression even in the absence of a monarch. Thus, in 1789, at a time when the revenues of the United States derived primarily from customs duties and whiskey taxes, one of Congress's first legislative acts was to grant the new federal government the right to be paid first when a person indebted to the United States became insolvent.
 
 The removal of the Crown preference was never meant for banks to profiteer for forcing solvent companies to close for their assets

Traditionally, there have been several justifications for the priority for tax claims. First, unlike the claims of private commercial creditors, tax claims are for the benefit of the entire community. The priority protects the revenue base for the common good, and avoids shifting the burden of the debtor's unpaid taxes to other taxpayers.

IT IS MADDNESS TO GIVE THE MONIES OWED TO THE TAXPAYER TO THE BANKS!!!