The Dems Embrace Tax Breaks!
By omb on Aug 1, 2009 in Congress, Obeyme
…tax breaks for trial lawyers, that is. Wow, what a surprise, the single largest lobbying group in terms of dollars, given primarily to Democrats/Marxists, are pushing legislation to grant themselves a tax benefit, as Rick Moran of American Thinker points out here.
He also points out that aside from the direct $1.4B benefit, that there are likely to be other, more lucrative impacts.
Those who practice plaintiffs’ lawyer work learn quickly that it is a business similar to other capital businesses. Capital is placed at risk and a judgment is made whether or not it will bring a profit. Today the costs of litigation act as a curb against marginal and frivolous litigation. This is what makes the plaintiffs’ lawyers’ tax proposal of such great practical importance. While one cannot calculate it mathematically, having the federal government bear 40% of the initial costs allows plaintiff’s attorneys to take more cases with higher risks. The result to industries targeted by plaintiffs’ lawyers will be staggering.
Read the analysis by Victor E. Schwartz(American Tort Reform Association General Council) and Christopher E. Appel here.
This is a glaring example of why we need to diversify our congress. Tort reform will not happen either with these people(attorneys) in power-therefore our health care system will never be free of the blight of litigation which is at the root of the problem. They will not vote against themselves.
pj | Aug 3, 2009 | Reply