Obscure Wedge Issue in the Making?
Have we managed to identify a minor political wedge issue involving the very obscure issue of tax breaks for expenses in contingency cases? Read on, and make up your own mind.
David Freddoso and Kevin Mooney have an opinion piece in the San Francisco Examiner under the headline, “Trial lawyers seek return on contributions to Senate Democrats.” The subject is S437, introduced by Senator Arlen Specter (Dem., PA) earlier this year, two months before he switched parties. The authors explain that the bill, if it becomes law, will allow trial attorneys in contingency cases to get an immediate tax deduction for upfront expenses invested in contingency fee cases. “The tax break,” claim Freddoso and Mooney, “is reportedly worth $1.6 billion to trial lawyers.”
David Freddoso is the author of a book entitled, “The Case Against Barack Obama: The Unlikely Rise and Unexamined Agenda of the Media’s Favorite Candidate,” which title discloses the author’s bias.
Kevin Mooney describes himself as an investigative reporter who writes for The Washington Examiner.
While singling out Sen. Arlen Specter, who was still a Republican at the time he sponsored the bill, the two authors fail to point out that the co-sponsors included Sen. Mike Crapo, (Rep., ID), Sen. Mary L. Landrieu (Dem., LA), Sen. Ron Wyden (Dem., OR), Sen. Lindsey Graham (Rep., S. CAR.), Sen. Patrick T. Leahy (Dem., VT), and Sen. Debbie Stabenow (Dem., MI). (Sen. Martinez announced on August 7 that he will be resigning from the Senate).
According to our ever useful and often reliable source, Wikipedia, the San Francisco Examiner is currently run by a subsidiary of Philip Anschutz, SF Newspaper Company. Mr. Anschutz is a Republican donor and supporter of former Pres. George W. Bush. Also, the parent company of The Washington Examiner, Journal Newspapers Inc., was purchased by Philip Anschutz in October 2004.