Commentary from the vested sidelines…

“It’s hard to say what the unintended consequences will be,” Joshua Rosner, managing director of research firm Graham Fisher.

He proceeds to say what they will be. Bad.

Let’s cast the debate to limited legal liability (L3) in a simple arithmetic rewrite. Suppose that the limit to your wrong doing could be expressed as a portion of your wages. Further that this was the maximum amount that you would have to pay for an error you made, even if this error were made purposefully. You can buy your escape for a price. Basically you will pay a fee that limits litigation. Everything make sense? Suppose that this amount was Five Minutes of your Wages… The limits most often proposed for limiting the liability of a company making a “mistake” would amount to less than Five Minutes of their gross annual income.

Just think how much more you could do knowing that whatever mistake you made wouldn’t expose you to more than a docking of your annual wage by more than 5 minutes… what a victory for someone.

I will Privatize the IRS within the first ninety days of my administration. — Capital Eyes