Thursday, May 22, 2008
Posted by: John Campbell at 12:00 PM

The Democratic majority has routinely rejected every proposed tax reduction on Americans and they have steadfastly stuck to their insistence on repealing every tax reduction passed during this century. That will raise taxes on every single American who currently pays taxes and add some new ones to the tax rolls.

But there is one group that apparently is deserving of a tax cut, according to the majority. Contingent fee trial lawyers. Yep, you heard me correctly. Buried in a recent tax increase bill (which I opposed and the president will likely veto) was a special tax break for trail lawyers paid under a contingent fee. It would allow them to deduct their expenses on a contingent fee case whenever they incur them rather than wait, as current law requires, until the case is concluded. This bill contained mainly tax increases on lots of other businesses. This was one of the few tax cuts in the bill.

Maybe this is to aid the struggling trial lawyer industry? After all, they are the engine of our economy aren't they? They employ so many people? Yeah right.

Is there any question what special interests rule the roost now?



View in ascending order View in descending order
Trackback URL for this entry:

Listed below are links to weblogs that reference 'Trial Lawyer Tax Breaks'

About John Campbell

John Campbell is a member of the House Financial Services Committee, and has taken a leadership role in addressing the country's top economic issues. Campbell serves as a member of the Joint Economic Committee, and House Committee on the Budget. He has a Bachelor's Degree in Economics from UCLA and a Master's Degree in Taxation from USC.

Create You Own Blog on Townhall.com - IT'S EASY Search User Blogs on Townhall.com :: Where Your Opinion Counts
Young America
Young America's Foundation
Panel Discussion: Remembering Reagan
Listen Now Listen Now
Click to download Podcast Podcast