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" And what Ackman is describing is a less visible, but no less insidious, issue that also becomes a tax on consumers - because companies don’t just absorb the legal costs of lawsuits like these, they pass them on.
Collectively, this results in higher insurance premiums, higher prices of products, and lower wages for all over time. Nationwide, the US tort system is estimated to cost the over $500B/yr. That translates to ~$4,000 per household!
Not all of that is abuse, but if even part of that is driven by low-merit, settlement-pressure claims, that’s potentially thousands per year in hidden costs consumers are likely having to absorb.
In other words: this isn’t just a legal issue, it’s a quiet, ongoing tax on everyday families.'
BINGO you get it partner. Been there done that, I didn't pay her or her sbag ambulance chasing lawyer one dime. End of story. That was in 1991.
