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legion legion is offline
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Join Date: Sep 2004
Location: State of Failure
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In this country, we have given lawyers, as a class of people, the right to enact taxes for their personal benefit on all of society. I know it varies by product/service, but most things have a liability component built in to their price. Let me give you a simple representative example: company XXXX get sued for having a product that might break early, they are sued and ordered to pay out X dollars to the "class" that represents everyone who bought the product. The law firm takes 45% of the settlement as its fee. People in the class are required to submit a claim to receive compensation. Most don't bother. After X many years, the law firm gets to keep the balance of the money set aside for the settlement. Meanwhile, company XXXX had to raise it's prices to compensate for the settlement. Every future consumer on their products now has to pay a hidden tax that through the legal process mostly ends up personally benefitting the lawyers who sued the company. Sounds like a real incentive to go hunting for people to sue, doesn't it?
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Old 12-09-2008, 10:28 AM
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