Posted on 08/16/2009 10:36:41 AM PDT by Ja7430
SAN FRANCISCO (Legal Newsline)- Federal legislation that would afford trial lawyers a special tax break faces an uncertain future, says one of the chief lobbyists for the nation's trial lawyers.
The proposal would allow attorneys to deduct fees and expenses up-front for filing contingency-fee lawsuits. The proposal amounts to about a $1.6 billion tax break for plaintiffs' attorneys, estimates indicate.
(Excerpt) Read more at legalnewsline.com ...
The hits just keep on comin’........
Then defendants should get the same tax break. But, oooohhhh noooo, they are not the biggest campaign contributors to leftists and Democrat (but I repeat myself) candidates and causes, so they will get short shrift.
I don’t have a problem with them deducting expenses because they are going to do it anyhow. The problem here is that it will give them incentive to file more suits. That I have a problem with. I say, allow the tax change but couple it with loser pays reform.
Anyone looking for tort reform under this president will be disappointed.
How about letting physicians deduct overhead cost for all the free health care we give? I am sick of lawyers.
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