The US Supreme court handed down a decision today that will make the
entire Jury award taxable by the IRS as Normal Income and disallows
attorney fees to be deducted from the amount. The supreme court said
that since you don't pay the fees if you loose they can not be deducted
if you win. Therefor the money that was paid to attorneys as a
contingency was disallowed as a deduction.

What this means is

You get a 10,000,000 dollar jury award
you Pay US income Tax on the award of 38.6% (top rate)
You Pay State Income Tax of 8% (taken form tax tables of states with
highest jury awards)
Total Tax bite is 46.8%
Payment to attorneys for winning the case 40% of the total award
Total tax and attorney fees is 86.8%

What you have left is 13.2% of 10 million or
1.32 million dollars out of a ten million dollar settlement

What do the attorneys get??? They get to claim all the expert witness
fees, per diem, suits, laundry services, meals, entertainment costs, (to
include booze and hookers)and every thing under the sun so they probably
will get to keep 3 million of their fees.

So the brake down of a 10 million jury award
4.68 million to Federal and state Government
3.0 million to attorney
1.32 million to plaintive

What does this mean??

Well of the top of my head you won't see any more 10 million dollar
awards they will now be 100 million dollar awards.

The price of insurance will go up 1000% if you can get it which means
you won't.


"Considering the events of recent years,
the world has a long way to go to regain
its credibility and reputation with the US."
unknown

Gunner wrote:

The US Supreme court handed down a decision today that will make the
entire Jury award taxable by the IRS as Normal Income and disallows
attorney fees to be deducted from the amount. The supreme court said
that since you don't pay the fees if you loose they can not be deducted
if you win. Therefor the money that was paid to attorneys as a
contingency was disallowed as a deduction.

What this means is

You get a 10,000,000 dollar jury award
you Pay US income Tax on the award of 38.6% (top rate)
You Pay State Income Tax of 8% (taken form tax tables of states with
highest jury awards)
Total Tax bite is 46.8%
Payment to attorneys for winning the case 40% of the total award
Total tax and attorney fees is 86.8%

What you have left is 13.2% of 10 million or
1.32 million dollars out of a ten million dollar settlement

What do the attorneys get??? They get to claim all the expert witness
fees, per diem, suits, laundry services, meals, entertainment costs, (to
include booze and hookers)and every thing under the sun so they probably
will get to keep 3 million of their fees.

So the brake down of a 10 million jury award
4.68 million to Federal and state Government
3.0 million to attorney
1.32 million to plaintive

What does this mean??

Well of the top of my head you won't see any more 10 million dollar
awards they will now be 100 million dollar awards.

The price of insurance will go up 1000% if you can get it which means
you won't.


Gunner, you excel at the art of cut and paste, but you really, really,
really suck as a legal scholar.

Read the court's ruling, then explain the impact of the American Jobs
Creation Act of 2004, then report back to us. If you have any balls.

Dale Scroggins

On Wed, 26 Jan 2005 10:55:37 GMT, Dale Scroggins
wrote:

Gunner wrote:

The US Supreme court handed down a decision today that will make the
entire Jury award taxable by the IRS as Normal Income and disallows
attorney fees to be deducted from the amount. The supreme court said
that since you don't pay the fees if you loose they can not be deducted
if you win. Therefor the money that was paid to attorneys as a
contingency was disallowed as a deduction.

What this means is

You get a 10,000,000 dollar jury award
you Pay US income Tax on the award of 38.6% (top rate)
You Pay State Income Tax of 8% (taken form tax tables of states with
highest jury awards)
Total Tax bite is 46.8%
Payment to attorneys for winning the case 40% of the total award
Total tax and attorney fees is 86.8%

What you have left is 13.2% of 10 million or
1.32 million dollars out of a ten million dollar settlement

What do the attorneys get??? They get to claim all the expert witness
fees, per diem, suits, laundry services, meals, entertainment costs, (to
include booze and hookers)and every thing under the sun so they probably
will get to keep 3 million of their fees.

So the brake down of a 10 million jury award
4.68 million to Federal and state Government
3.0 million to attorney
1.32 million to plaintive

What does this mean??

Well of the top of my head you won't see any more 10 million dollar
awards they will now be 100 million dollar awards.

The price of insurance will go up 1000% if you can get it which means
you won't.


Gunner, you excel at the art of cut and paste, but you really, really,
really suck as a legal scholar.

Read the court's ruling, then explain the impact of the American Jobs
Creation Act of 2004, then report back to us. If you have any balls.

Dale Scroggins

Ive made some claim to legal scholarship?

I posted this bit without comment.

Now where did you get your JD from?

Gunner

"Considering the events of recent years,
the world has a long way to go to regain
its credibility and reputation with the US."
unknown

In article , Gunner says...

Ive made some claim to legal scholarship?

I think somebody better have installed lightning
rods on his new outdoor shop. :^)

Jim


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Gunner wrote:

snip

Ive made some claim to legal scholarship?

I posted this bit without comment.

Weasel. Lazy weasel.

Now where did you get your JD from?

University of Arkansas. 1987.

Dale Scroggins

On Wed, 26 Jan 2005 20:15:36 GMT, Dale Scroggins
wrote:

Gunner wrote:

snip

Ive made some claim to legal scholarship?

I posted this bit without comment.

Weasel. Lazy weasel.

Your opinion is noted.

Now where did you get your JD from?

University of Arkansas. 1987.

Dale Scroggins

And you passed the bar and are practicing now?

Gunner

This message does not reflect the thoughts or opinions of either
myself, my company, my friends, or my cat; Don't quote me on that;
Don't quote me on anything; All rights reserved; You may distribute
this message freely but you may not make a profit from it; Terms are
subject to change without notice; Illustrations are slightly enlarged
to show detail; Any resemblance to actual persons, living or dead, is
unintentional and purely coincidental; Do not remove this disclaimer
under penalty of law; Hand wash only, Tumble dry on low heat; Do not
bend, fold, mutilate, or spindle; Your mileage may vary; No
substitutions allowed; Offer good for a limited time only; This
message is void where prohibited, taxed, or otherwise restricted;
Caveat emptor; Message is provided "as is" without any warranties;
Reader assumes full responsibility; An equal opportunity message; No
shoes, no shirt, no message; Quantities are limited while supplies
last; If any defects are discovered, do not attempt to read them
yourself, but return to an authorized service center; Read at your own
risk; Parental advisory - explicit lyrics; Text may contain explicit
materials some readers may find objectionable, parental guidance is
advised; Keep away from sunlight; Keep away from pets and small
children; Limit one-per-family please; No money down; No purchase
necessary; You need not be present to win; Some assembly required;
Batteries not included; Instructions are included; Action figures
sold separately; No preservatives added; Slippery when wet; Safety
goggles may be required during use; Sealed for your protection, Do not
read if safety seal is broken; Call before you dig; Not liable for
damages arising from use or misuse; For external use only; If rash,
irritation, redness, or swelling develops, discontinue reading; Read
only with proper ventilation; Avoid extreme temperatures and store in
a cool dry place; Keep away from open flames; Avoid contact with eyes
and skin and avoid inhaling fumes; Do not puncture, incinerate, or
store above 120 degrees Fahrenheit; Do not place near a flammable or
magnetic source; Smoking this message could be hazardous to your
health; Reading is addictive; No salt, MSG, artificial color or
flavoring added; If ingested, do not induce vomiting, and if symptoms
persist, consult a physician; May cause drowsiness, alcohol may
intensify this effect; Read with food; Use caution when operating
a car or dangerous machinery; Possible penalties for early withdrawal;
Offer valid only at participating sites; Slightly higher west of the
Rockies; Allow four to six weeks for delivery; Must be 18 to read;
Objects in mirror are closer than they appear; Use of this message is
governed by the terms and conditions of the Bank and Messageholder
Agreement received by the Messageholder. Message remains the property
of the Bank and must be returned on request. Disclaimer does not cover
misuse, accident, lightning, flood, tornado, tsunami, volcanic
eruption, earthquake, hurricanes and other Acts of God, neglect,
damage from improper reading, incorrect line voltage, improper or
unauthorized reading, broken antenna or marred cabinet, missing or
altered serial numbers, electromagnetic radiation from nuclear blasts,
sonic boom vibrations, customer adjustments that are not covered in
this list, and incidents owing to an airplane crash, ship sinking or
taking on water, motor vehicle crashing, dropping the item,
falling rocks, leaky roof, broken glass, mud slides, forest fire, or
projectile (which can include, but not be limited to, arrows, bullets,
shot, BB's, shrapnel, lasers, napalm, torpedoes, or emissions of
X-rays, Alpha, Beta and Gamma rays, knives, stones, etc.); Other
restrictions may apply; Contest ends 12-31-2001.To prevent damage, feel the film continuously during the showing. Do not
rewind after the last showing. Return all filmparts around their proper reels,
thank you.

Gunner, that law was passed in1996 when your hero the Newt and your beloved
Republicans were running things in Congress. It is in the "Small Business
Protection Act", part of their "Contract on America".

It can actually teg much worse than your example. In the O'Gilive case that
the SCOUS decided, the family that won a $10 Mil award when their mother
died from toxic shock. After legal fees and taxes they owed the IRS
$500,000 more than they received.

--
Glenn Ashmore

I'm building a 45' cutter in strip/composite. Watch my progress (or lack
there of) at: http://www.rutuonline.com
Shameless Commercial Division: http://www.spade-anchor-us.com

"Gunner" wrote in message
...


The US Supreme court handed down a decision today that will make the
entire Jury award taxable by the IRS as Normal Income and disallows
attorney fees to be deducted from the amount. The supreme court said
that since you don't pay the fees if you loose they can not be deducted
if you win. Therefor the money that was paid to attorneys as a
contingency was disallowed as a deduction.

What this means is

You get a 10,000,000 dollar jury award
you Pay US income Tax on the award of 38.6% (top rate)
You Pay State Income Tax of 8% (taken form tax tables of states with
highest jury awards)
Total Tax bite is 46.8%
Payment to attorneys for winning the case 40% of the total award
Total tax and attorney fees is 86.8%

What you have left is 13.2% of 10 million or
1.32 million dollars out of a ten million dollar settlement

What do the attorneys get??? They get to claim all the expert witness
fees, per diem, suits, laundry services, meals, entertainment costs, (to
include booze and hookers)and every thing under the sun so they probably
will get to keep 3 million of their fees.

So the brake down of a 10 million jury award
4.68 million to Federal and state Government
3.0 million to attorney
1.32 million to plaintive

What does this mean??

Well of the top of my head you won't see any more 10 million dollar
awards they will now be 100 million dollar awards.

The price of insurance will go up 1000% if you can get it which means
you won't.


"Considering the events of recent years,
the world has a long way to go to regain
its credibility and reputation with the US."
unknown

On Wed, 26 Jan 2005 08:41:58 -0500, "Glenn Ashmore"
wrote:

Gunner, that law was passed in1996 when your hero the Newt and your beloved
Republicans were running things in Congress. It is in the "Small Business
Protection Act", part of their "Contract on America".

It can actually teg much worse than your example. In the O'Gilive case that
the SCOUS decided, the family that won a $10 Mil award when their mother
died from toxic shock. After legal fees and taxes they owed the IRS
$500,000 more than they received.

See:

http://www.latimes.com/business/investing/la-na-tax25jan25,1,7736904.story?coll=la-headlines-business-invest&ctrack=1&cset=true

Gunner



"Considering the events of recent years,
the world has a long way to go to regain
its credibility and reputation with the US."
unknown

On Wed, 26 Jan 2005 16:22:56 GMT, the renowned Gunner
wrote:

On Wed, 26 Jan 2005 08:41:58 -0500, "Glenn Ashmore"
wrote:

Gunner, that law was passed in1996 when your hero the Newt and your beloved
Republicans were running things in Congress. It is in the "Small Business
Protection Act", part of their "Contract on America".

It can actually teg much worse than your example. In the O'Gilive case that
the SCOUS decided, the family that won a $10 Mil award when their mother
died from toxic shock. After legal fees and taxes they owed the IRS
$500,000 more than they received.

See:

http://www.latimes.com/business/investing/la-na-tax25jan25,1,7736904.story?coll=la-headlines-business-invest&ctrack=1&cset=true

Gunner

I suppose to be fair then, the lawyers should not need to pay any tax
on the income, right?



Best regards,
Spehro Pefhany
--
"it's the network..." "The Journey is the reward"
Info for manufacturers: http://www.trexon.com
Embedded software/hardware/analog Info for designers: http://www.speff.com

On Wed, 26 Jan 2005 16:22:56 GMT, the inscrutable Gunner
spake:

On Wed, 26 Jan 2005 08:41:58 -0500, "Glenn Ashmore"
wrote:

Gunner, that law was passed in1996 when your hero the Newt and your beloved
Republicans were running things in Congress. It is in the "Small Business
Protection Act", part of their "Contract on America".

The Contract with America, Glenn, was one of the few things Congress
ever did -right-.


It can actually teg much worse than your example. In the O'Gilive case that
the SCOUS decided, the family that won a $10 Mil award when their mother
died from toxic shock. After legal fees and taxes they owed the IRS
$500,000 more than they received.

See:

http://www.latimes.com/business/investing/la-na-tax25jan25,1,7736904.story?coll=la-headlines-business-invest&ctrack=1&cset=true

That truly f*cking sucks. The gov't gets their max share from
both the awardee and the lawyer who claims it as income. Is out
gov't out of control, or what?

P.S: I'm just over 100 pages into Ross' "Unintentional Consequences".
It won't be as quick to read because it's so heavy--it strains my
wrist trying to hold it up to read in bed. Man, 860 pages of fun!


---
After they make styrofoam, what do they ship it in? --Steven Wright
http://diversify.com Comprehensive Website Development

Larry,

Could you be more specefic on this book? Sounds Interesting. I have been
unable to google it.

Thanks Barry


"Larry Jaques" wrote in message
...
On Wed, 26 Jan 2005 16:22:56 GMT, the inscrutable Gunner
spake:

On Wed, 26 Jan 2005 08:41:58 -0500, "Glenn Ashmore"
wrote:

Gunner, that law was passed in1996 when your hero the Newt and your
beloved
Republicans were running things in Congress. It is in the "Small
Business
Protection Act", part of their "Contract on America".

The Contract with America, Glenn, was one of the few things Congress
ever did -right-.


It can actually teg much worse than your example. In the O'Gilive case
that
the SCOUS decided, the family that won a $10 Mil award when their mother
died from toxic shock. After legal fees and taxes they owed the IRS
$500,000 more than they received.

See:

http://www.latimes.com/business/investing/la-na-tax25jan25,1,7736904.story?coll=la-headlines-business-invest&ctrack=1&cset=true

That truly f*cking sucks. The gov't gets their max share from
both the awardee and the lawyer who claims it as income. Is out
gov't out of control, or what?

P.S: I'm just over 100 pages into Ross' "Unintentional Consequences".
It won't be as quick to read because it's so heavy--it strains my
wrist trying to hold it up to read in bed. Man, 860 pages of fun!


---
After they make styrofoam, what do they ship it in? --Steven Wright
http://diversify.com Comprehensive Website Development

"Barry" wrote in message
...
Larry,

Could you be more specefic on this book? Sounds Interesting. I have been
unable to google it.

Thanks Barry

The title is _Unintended Consequences_.

--
Ed Huntress

"Barry" wrote in message
...
Larry,

Could you be more specefic on this book? Sounds Interesting. I have been
unable to google it.

Thanks Barry

BTW, here are some comments from the review in _Publisher's Weekly_. That's
the journal for book-dealers. It usually hypes all the good points about a
book:

"The dust jacket of this first novel nearly sums it up: a storm trooper-like
American federal agent holds an automatic weapon to the throat of a
semi-naked, buxom young woman as a giant copy of the Constitution burns in
the background."

"This action-packed, overlong fiction-as-manifesto is a hotbed of pulp
melodrama, enhanced with photos of--and reproductions of ads for--guns.
(...) In a preface, Ross states that he hopes "this book will reduce the
likelihood of armed conflict in this country." It seems disingenuous. This
whole story seethes with a grudge against a government that is portrayed as
having persecuted praiseworthy citizens who merely want to exercise their
civil rights. Like the notorious and paranoid _The Turner Diaries_, this
novel may speak to readers on the fringes of American society--but it misses
the middle, both artistic and political, by a long shot."

Regarding the fringes of society, it's an RCM "Must Read," and a Golden
Cartridge Belt winner...

--
Ed Huntress

On Wed, 26 Jan 2005 20:02:05 -0500, the inscrutable "Barry"
spake:

Larry,

Could you be more specefic on this book? Sounds Interesting. I have been
unable to google it.

Sorry, Barry, I totally spaced the title earlier.
Author: John Ross
Title : Unintended Consequences
Hardcover: 863 pages
Publisher: Accurate Press (January 1, 1996)
ISBN: 1888118040
Rated 4.5 out of 5 stars via 314 reviews.

Ed quoted the Publisher's Weekly rant. Here's a typical review
from Amazon.com:

34 of 37 people found the following review helpful:
It Changed My Thinking, April 27, 2003
Reviewer: Beau Thurnauer "Beau" (Coventry, CT USA) - See all my
reviews
(REAL NAME)
"I'm a pretty conservative guy. I follow rules because I find it
comfortable to do so. I stop at stop lights and do a lot of things I
would rather not do as well as not doing things I would like to do
because I find this an orderly and secure way to live.

I do recognize that there are many stupid poorly conceived laws and
rules but I still comply. I have never thought about starting a
revolution because the trivial moronic little rules and regulations
that we are requested to comply with are unreasonable in a free
society. But that is the topic of this book.

Few books in my life have changed my thinking over the long term.
Unintended Consequences did this. This book is about the gun culture.
How it began and where it is today. I never never never thought about
how not only many of the Federal firearms regulations are but in a
more global sense how many of our regulations are ridiculous.

This may sound like a vague description of a 800+ page book. But this
book is so global. It talks specifically about Henry Bowman who grows
up shooting guns as a hobby like many others collect stamps or ride
motorcycles. Yet he explains very slowly and methodically how his life
experiences with his hobby are hampered unreasonably by Federal
regulations. You do not have to be a gun lover or hater to appreciate
this book. You only have to have a hobby or passion; any hobby or
passion. You will see how our Constitution and Bill of Rights have
been beaten and changed, how we are losing our individual rights and
how dangerous the repurcussions.

Please read this book for the message, it will change you."

And to top it off, Gunner liked it. bseg


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Was that an African + http://www.diversify.com
or European Swallow? + Gourmet Web Applications
================================================== ======

Barry wrote:

Larry,

Could you be more specefic on this book? Sounds Interesting. I have been
unable to google it.

Try searching "Unintended Consequences" rather than "Unintentional Consequences".

-jc-

On Wed, 26 Jan 2005 15:42:11 -0800, Larry Jaques
wrote:

On Wed, 26 Jan 2005 16:22:56 GMT, the inscrutable Gunner
spake:

On Wed, 26 Jan 2005 08:41:58 -0500, "Glenn Ashmore"
wrote:

Gunner, that law was passed in1996 when your hero the Newt and your beloved
Republicans were running things in Congress. It is in the "Small Business
Protection Act", part of their "Contract on America".

The Contract with America, Glenn, was one of the few things Congress
ever did -right-.


It can actually teg much worse than your example. In the O'Gilive case that
the SCOUS decided, the family that won a $10 Mil award when their mother
died from toxic shock. After legal fees and taxes they owed the IRS
$500,000 more than they received.

See:

http://www.latimes.com/business/investing/la-na-tax25jan25,1,7736904.story?coll=la-headlines-business-invest&ctrack=1&cset=true

That truly f*cking sucks. The gov't gets their max share from
both the awardee and the lawyer who claims it as income. Is out
gov't out of control, or what?

P.S: I'm just over 100 pages into Ross' "Unintentional Consequences".
It won't be as quick to read because it's so heavy--it strains my
wrist trying to hold it up to read in bed. Man, 860 pages of fun!


You are in the slow part..it picks up the pace considerably a bit
later on. Ross is quite meticulous in setting up the rest of the book

Gunner


---
After they make styrofoam, what do they ship it in? --Steven Wright
http://diversify.com Comprehensive Website Development

This message does not reflect the thoughts or opinions of either
myself, my company, my friends, or my cat; Don't quote me on that;
Don't quote me on anything; All rights reserved; You may distribute
this message freely but you may not make a profit from it; Terms are
subject to change without notice; Illustrations are slightly enlarged
to show detail; Any resemblance to actual persons, living or dead, is
unintentional and purely coincidental; Do not remove this disclaimer
under penalty of law; Hand wash only, Tumble dry on low heat; Do not
bend, fold, mutilate, or spindle; Your mileage may vary; No
substitutions allowed; Offer good for a limited time only; This
message is void where prohibited, taxed, or otherwise restricted;
Caveat emptor; Message is provided "as is" without any warranties;
Reader assumes full responsibility; An equal opportunity message; No
shoes, no shirt, no message; Quantities are limited while supplies
last; If any defects are discovered, do not attempt to read them
yourself, but return to an authorized service center; Read at your own
risk; Parental advisory - explicit lyrics; Text may contain explicit
materials some readers may find objectionable, parental guidance is
advised; Keep away from sunlight; Keep away from pets and small
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necessary; You need not be present to win; Some assembly required;
Batteries not included; Instructions are included; Action figures
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goggles may be required during use; Sealed for your protection, Do not
read if safety seal is broken; Call before you dig; Not liable for
damages arising from use or misuse; For external use only; If rash,
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only with proper ventilation; Avoid extreme temperatures and store in
a cool dry place; Keep away from open flames; Avoid contact with eyes
and skin and avoid inhaling fumes; Do not puncture, incinerate, or
store above 120 degrees Fahrenheit; Do not place near a flammable or
magnetic source; Smoking this message could be hazardous to your
health; Reading is addictive; No salt, MSG, artificial color or
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persist, consult a physician; May cause drowsiness, alcohol may
intensify this effect; Read with food; Use caution when operating
a car or dangerous machinery; Possible penalties for early withdrawal;
Offer valid only at participating sites; Slightly higher west of the
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Objects in mirror are closer than they appear; Use of this message is
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Agreement received by the Messageholder. Message remains the property
of the Bank and must be returned on request. Disclaimer does not cover
misuse, accident, lightning, flood, tornado, tsunami, volcanic
eruption, earthquake, hurricanes and other Acts of God, neglect,
damage from improper reading, incorrect line voltage, improper or
unauthorized reading, broken antenna or marred cabinet, missing or
altered serial numbers, electromagnetic radiation from nuclear blasts,
sonic boom vibrations, customer adjustments that are not covered in
this list, and incidents owing to an airplane crash, ship sinking or
taking on water, motor vehicle crashing, dropping the item,
falling rocks, leaky roof, broken glass, mud slides, forest fire, or
projectile (which can include, but not be limited to, arrows, bullets,
shot, BB's, shrapnel, lasers, napalm, torpedoes, or emissions of
X-rays, Alpha, Beta and Gamma rays, knives, stones, etc.); Other
restrictions may apply; Contest ends 12-31-2001.To prevent damage, feel the film continuously during the showing. Do not
rewind after the last showing. Return all filmparts around their proper reels,
thank you.

In article B6NJd.23332$EG1.14109@lakeread04, Glenn Ashmore says...

Gunner, that law was passed in1996 when your hero the Newt and your beloved
Republicans were running things in Congress. It is in the "Small Business
Protection Act", part of their "Contract on America".

It can actually teg much worse than your example. In the O'Gilive case that
the SCOUS decided, the family that won a $10 Mil award when their mother
died from toxic shock. After legal fees and taxes they owed the IRS
$500,000 more than they received.

Yet *another* example of our Tax&Spend republicans in action.

They say one thing (we're gonna LOWER yer taxes) while
at the same time dipping their fat paws into our wallets.

Jim


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please reply to:
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