Posted on 06/06/2008 7:35:25 AM PDT by bamahead
When the Energy and Tax Extenders Act of 2008 passed the House, Speaker Pelosi called it a tax cut for “millions of middle-income families." However, tucked into the bill is a $1.6 billion earmark for plaintiffs’ lawyers.
I’m not sure most Americans would consider class action lawyers a part of the struggling middle-class.
Not only is this $1.6 billion payout disturbing on its face, digging deeper into the issue reveals even more startling revelations.
First is the trial lawyer tax break itself, which The Wall Street Journal describes as “an incentive to file more class-action suits, because the lawyers could write off their up-front expenditures to pursue them.”
In seeking this payout from their allies in Congress, plaintiffs’ lawyers who have this choice are trying to have it both ways. They want to get a special tax deduction for money they loan to their clients AND have those loans later reimbursed as part of their clients' awards.
The second startling aspect is the brazen way the trial lawyer tax cut was slipped into the bill...
(Excerpt) Read more at townhall.com ...
Charlie Rangle at work.
The first thing the Colorado Dems did when they got control of the Governership and State houses was to take away penalties for frivolous lawsuits and give lawyers much more power to run people down. Thanks failed-Socialist East and West-Coasters who moved here and ruined the West! Thanks a lot!
As if trial lawyers don’t rake in enough as it is...
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