Fiscal Cliff Capitulation Includes Payoff to Hollywood


Hollyweird doesn’t back Obama to the hilt out of sheer moral depravity alone. Loyal support buys it a lucrative seat at the table:

Section 317 of the freshly approved [fiscal cliff] legislation includes an extension for “special expensing rules for certain film and television productions.” Congress first enacted production tax incentives favorable to the domestic entertainment industry in 2004, and extended them in 2008, but the deal was meant to expire in 2011.

The fiscal cliff deal extends the tax incentives through 2013 — even as payroll taxes rise on ordinary Americans.

Unlike the normal Americans who are getting bled dry, Tinseltown doesn’t need the money. Ticket sales for 2012 were projected to reach an all-time high of $10.8 billion. But then, the federal government is raking in far more astonishingly excessive revenues; that doesn’t mean it won’t take more yet if it finds us unable to defend our property.

commiewood
Socialism means other people pay.

On a tip from Henry B. Cross-posted at Moonbattery.

Related Articles

1

Today’s Stealth Tax Story

One of the many drags about owning a home in the suburbs rears its ugly head around this time a

36

Tea Party ‘Extremists’ Take Center Stage

The liberal media’s newest meme is to claim that the tea party movement is made up exclusively of John Birchers,

46

A Merry Christmas Open Thread That’s Made Of Awesome….

Christmas is my very favorite time of year. Why? Well, I think that Ebenezer Scrooge’s nephew, Fred Holywell, nailed it