Heading over to Home depot last night I heard a piece on NPR about a change in the income tax law that I hadn’t heard before.
Winners of various contingency court cases will henceforth have to pay income taxes on the cut that goes to their attorneys.
The political angle?
Joe Tirio is suing the Illinois Integrity Fund guys for defamation, which was specifically mentioned in the story.
The new law won’t deter him because his suit is not about money.
It’s about unmasking a dirty trickster.
I’m certainly not privy to the reasoning behind the change, but I would not be surprised if this change is intended as retribution to trial attorneys for their massive contributions to Democrats.
The lawyers, however, don’t seem to lose anything but the deterrence that a lesser payout to victims will provide.