It Is Time To Revisit Tort Reform

 

It is time to revisit tort reform. For those unfamiliar with the concept, tort reform refers to establishing laws that place a monetary cap on non-economic and punitive damages in a civil law suit. Most legislators resist tort reform because a significant number of elected officials are attorneys who represent p,a tiffs in civil lawsuits on a contingency basis. That means the lawyers get paid approximately 40% of any settlement or verdict. In fact, many cases don’t settle because the lawyers are looking for a big payday. They vilify insurance companies and corporations to leverage negative publicity for a big payday. But the system ultimately costs all of us. 

Sorry, folks, but no individual’s life is worth $10 million for pain and suffering. Accidents happen. Unless somebody is under the influence of drugs/ alcohol or there is evidence of intentional wrongdoing, there should be no punitive damages. Juries make decisions based upon emotions rather than facts. Elected judges who are supposed to be impartial generally support law firms that contribute more money to their reelection campaigns. The system is corrupt. Many players are unethical. Apparently they sleep well on their mattresses stuffed with cash.

If this trend of ridiculous payouts to injured people doesn’t change, the system will collapse. There is a reason so few products are actually manufactured in the USA today... laws that hold a manufacturer legally responsible when an idiot misused a product and the manufacturer or the importer or the retail outlet failed to warn the end user not to use the toaster in the bathtub. 

In Nassau county Florida a jury recently awarded a verdict of One Billion Dollars for the death of a college student. So, the next time you wonder why your grocery store shelves are empty, Kohl’s has no merchandise, or your favorite restaurant has no meat, it is because the legal system is bankrupting the system. 

Just stop it!