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NY Post-Build Back’s gift to ambulance-chasing attorneys

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  • NY Post-Build Back’s gift to ambulance-chasing attorneys

    Just another shining example of whores helping other whores while they are whoring.


    Build Back’s gift to ambulance-chasing attorneys
    By
    Post Editorial Board
    November 23, 2021 7:23pm
    Updated
    Build Back Better package has a $2.5 billion tax write-off for trial lawyers.AP
    MORE ON:GOVERNMENT SPENDING
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    • The only ‘logic’ behind Build Back Better is Democrats’ desire to spend
    • Rep. McCarthy says House GOP could have chance to defeat Build Back Better
    Among all the other junk in Democrats’ Build Back Better package is a giveaway to ambulance-chasers.
    That’s right: a $2.5 billion handout to trial lawyers in the form of a new tax write-off.
    The IRS usually prohibits lawyers from deducting expenses from contingency-fee cases until they’re resolved, since they should get reimbursed if the case is won or settled. Only if the attorneys don’t get paid (as they risk by taking the case on contingency) because they lost the case can they write off their expenses.
    But the House-passed bill lets the lawyers deduct the expenses whether or not they’ll be repaid. Per the Joint Committee on Taxation, this would cost taxpayers $2.5 billion over a decade.
    Simply put, this is a public subsidy for contingency-fee cases, encouraging the trial bar to file even more dubious lawsuits. Sounds like another corrupt political ploy to funnel money to Democrats’ friends in the plaintiffs’ bar.
    How, exactly, is that about “building” anything except donations to the party that’s trying to sneak it through?
    ALL MEN ARE CREATED EQUAL. THEN GOD CREATED DESTROYER SAILORS.
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