Sources: Trial lawyers expect tax break from Treasury Department

LegalNewsline.com ^ | 07/13/2010 | John O'Brien

[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.

[MrLegalReform]

If at first you don't succeed....

[Huskrrrr]

Government of the lawyers, by the lawyers, for the lawyers.

[Wolfie]

Lower taxes are good, no?

[drbuzzard]

This is so bad, it makes Obamacare look like a mild tweak of health care.

[Principled]

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?

lol

[TMA62]

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.

[YankeeReb]

Just what we need more breaks for slip n' fall ambulance chasers. What about an across the board tax cut for EVERYONE. Lower tax rates, lower corporate taxes , lower dividend taxes.
Yeah, I know aint gonna happen with the kenyan in charge.

[Da Coyote]

I’ll add them to the “guillotine” list - for perusal after the upcoming civil war.

[Wolfie]

Starve the beast, doncha know.

[kaila]

How about a tax break for physicians who treat uninsured patients with no chance of ever getting reimbursed for their work?

[Atlas Sneezed]

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.

[Diogenesis]

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.

[hosepipe]

Some rich guys are more equal than others..

[Hoodat]

The rule of law is dead in this county. The Legislative Branch is the one empowered to change the tax code. That branch decides to leave the code as it is, but now the Executive Branch decides to ignore the Legislature and change it anyway. Such egregious power grabs are becoming the rule rather than the exception with this Administration.

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.

[A Navy Vet]

Will the insanity never end? Rhetorical question.