New York’s Outrages

We’ve all read those ridiculous lawsuit stories.  Whether it is millions of dollars awarded for hot coffee or lost pants at the dry cleaners or its awarding a criminal damages because he was injured robbing someone’s home, they make for great late night talk show jokes and office chatter.

But, did you know that those lawsuits are costing each of us millions of dollars every year in higher taxes and prices and lost jobs.  Here are just a few real life stories and their impacts.

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A Syracuse manufacturing firm with 14 employees paid 100% of its’ employees’ health insurance 10 years ago.  As insurance rates have risen (partly as a result of defensive medicine and New York’s lawsuit-friendly legal system), the company now must ask its employees to shoulder 35% of the costs.  Over the last two years, the company has since insurance rates rise almost 30%, 12.58% in just the last year.

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