Skip to comments.Sources: Trial lawyers expect tax break from Treasury Department
Posted on 07/14/2010 6:21:49 AM PDT by MrLegalReform
The nation's trial lawyer group, the American Association for Justice, revealed Tuesday that it expects the U.S. Department of Treasury to soon give its members a tax break on contingency fee lawsuits.
The tax break could be similar to proposed legislation that didn't make it through Congress last year. That proposal, sponsored by U.S. Sen. Arlen Specter, D-Pa., would have allowed attorneys to deduct fees and expenses up-front for filing contingency fee lawsuits.
John Bowman, the Director of Federal Relations for the AAJ, said in response to a question from a state delegate regarding recruiting new members that an administrative order from the Treasury Department could come as soon as tomorrow, sources told Legal Newsline.
The Treasury Department cautioned the AAJ not to go public with the information yet, according to Bowman, sources also said.
(Excerpt) Read more at legalnewsline.com ...
Government of the lawyers, by the lawyers, for the lawyers.
Lower taxes are good, no?
This is so bad, it makes Obamacare look like a mild tweak of health care.
Don’t they “make enough”?
Don’t they want to help the guy behind them, you know “spread the wealth a little”?
Don’t they want to do their patriotic duty and refrain from minimizing taxes?
But, but, but......how are we going to pay for these tax breaks? Afterall, that is what this lawyers decry when tax cuts are proposed to the rest of us.
I’ll add them to the “guillotine” list - for perusal after the upcoming civil war.
Starve the beast, doncha know.
How about a tax break for physicians who treat uninsured patients with no chance of ever getting reimbursed for their work?
I find it hard to believe that a business such as a law firm can’t already discuss its operational expenses in the year they occur.
Obamacare give all doctors the same low fee.
That punishment should go to lawyers.
All their income should be limited to a single small amount.
Some rich guys are more equal than others..
This is no different than our Treasury Secretary declaring that Fannie Mae now has a blank check from which to draw upon even though Congress has not appropriated funding for such purpose. It's no different than our Interior Department enforcing a ban on new offshore drilling in defiance of a Federal Appellate Court order. Fascism is alive and well in America. There is now only one branch of government.
Will the insanity never end? Rhetorical question.
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