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patents + taxes = insanity squared

June 1, 2009

Yes, over sixty patents have been issued for “tax planning methods.”  You discover (or contrive?) a loophole, then patent its use. Subsequent taxpayers (or tax avoiders) who might happen on the same idea are obligated to contact you and arrange to license your innovation.  This is not what the Framers had in mind when they empowered Congress

To promote the Progress of Science and useful Arts, by securing for limited Times to Authors and Inventors the exclusive Right to their respective Writings and Discoveries

Cong. Rick Boucher introduced a bill a couple of years ago to limit the benefits patent holders could obtain for such patents (summarized here(doc) with full text here(pdf)).   A message today from Vaughn Henry implies that this has been reintroduced.

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One comment

  1. You worked hard all your life so that you can give best home and amenities you can to your family and children. Inheritance tax will take away bit of happiness when finally you will be handing over the keys to your treasure box to your children.



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