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

14

Fish Wrap Wonders If VATs Are The Cure For Deficits

Sure, why not, another tax on everyone is a good thing in Liberal World: Many See the VAT Option as

0

The Best Primer for Phil Robertson’s ‘Duck Dynasty’ Controversy

If you are like many folks, you’ll have missed the beginning of the controversy over comments about homosexuality made by

25

Tea Party: Instantly Attacked by Old Media, Coffee Party: Immediate Respect from Old Media

Nothing says “media bias” like coffee in the morning. If anyone ever wanted to see an example of the bias