Lawyers as taxpayers: come to do good; stay to do well

Two links highlight how ambivalent lawyers are to taxes. Minor controversy last summer as the 2004 Presidential election got started: VP candidate John Edwards made a tidy fortune on a number of million dollar verdicts. One year immediately prior to landing a couple huge hits for justice and truth, then private citizen attorney John Edwards converted his law practice into a subchapter S corporation, saving quite a bit in taxes. My comments from last summer are here. Recently law firms have been holding their breath to see what might come along with Social Security reform. Seems the Congress is mulling taking off the earnings cap on salaries and self employment income and also have thought about putting limited partners back on as semi employees of their law firms. Law.com covered this issue in "Lawyers, can you spare billion?"