Seems like Ed Lazear would have more important things to worry about.

I've always thought that patenting tax-avoidance strategies should not be allowed. Since these strategies are (supposed) to be legal - this would be like patenting different ways to not break the law.

Can I take out a patent on "52 miles per hour: a method to operate a moving vehicle to reach a destination while avoiding financial penalties in a 55 mph zone"?

President Bush's Top Economics Advisor Seeks Tax Strategy Patent

Tax Analysts reports that the president's top economic adviser, Edward Lazear, is attempting to obtain a tax strategy patent. The patent application was filed by Liquid Engines and lists Mr. Lazear as the inventor. The application seeks a patent for "A System and Method for Multi-State Tax Analysis." Here is the patent abstract:

In an embodiment one or more alternate entity structures are created in response to a base entity structure. A tax liability is determined for each alternate entity structure and the base entity structure; furthermore, a result is generated in response to comparing each of the determined tax liabilities with one another.

(Hat Tip: Richard Winchester.)

Say it ain't so Eddie! | Posted September 14, 2007 01:43 PM by John Irons