Our friends at Sick of Lawsuits offer up a timely reminder as Americans file their taxes this year. As you make you final income tax calculations, pause a moment to think about how much the “lawsuit tax” is costing each of us.
The sheer number of lawsuits being filed throughout the country every year raises costs for small and large businesses, which raises prices for every item that we purchase. A recent analysis showed that the total cost of lawsuits in the United States equaled $264.6 billion annually.
When you boil that down, that means $857 is coming out of each and every person’s pocket every single year – what we consider a “lawsuit tax.”
What can you do to help? Be aware and stay engaged. Call out lawsuit abuse when you see it. Follow TALA on Twitter and LIKE us on Facebook for more news and information. Sick of Lawsuits also has helpful content for a letter to the editor to your local newspaper. Click here to write to your local newspaper and spread the news about the real impacts of lawsuit abuse!