Wednesday, January 06, 2010
Paying for the Health Care Bill
I have an idea for Nancy and Harry-- 25% VAT on attorneys' invoices. With the US legal industry raking in about $230 Billion per year, that would be $57 Billion in added revenue. It would have the added benefit of raising legal costs on the end user and reducing the demand for legal services. I would also propose a 50% "windfall" tax on attorneys fees derived from so-called "blockbuster" punitive damage awards. I couldn't readily find the statistics on that, but it seems like another good place to squeeze out some revenue that isn't shouldered by the productive class.
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