Policymakers Need to Get Tax Treatment of Litigation Funding Right
Litigation funding may be evolving, but it's not going away.
Having rolled up accountants, insurance brokers, dentists, and other localized professional services into nationwide practices, private equity firms have a new target: billboard lawyers. This spring, Fortress made headlines when it signed a $125 million investment deal with an Arizona-based personal injury lawyer.
The deal signals a new chapter in the long campaign to open litigation to outside capital. The evolving business of law is a big deal for an obvious reason: taxes, regulations, excessive government spending, and litigation are the four biggest growth killers. Last summer’s megabill made progress on the first three, but not the fourth. America’s runaway liability system continues to slam economic progress, cutting a percentage point off annual GDP growth and costing each American household over $4,200 in inflated insurance premiums.
Politics
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Is American Nationalism Still Creed-able?
We are not there now, but there is reason to worry that the United States is in danger, if we are not careful, of ceasing to be a nation with the principles of 1776 at its core.
National Civitas Institute Poll: Americans are Anxious and Frustrated, Creating a Challenging Environment for Leaders
The poll reveals a deeply pessimistic American electorate, with a majority convinced the nation is on the wrong track.
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“Democratic” Socialism Is Undemocratic
By promoting class hatred, suppressing private initiative, and seeking enhanced control of our lives, today’s democratic socialists undermine patriotism and individual initiative—two qualities that have long distinguished the United States from other major nations.
