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.

Trending Today

Related Articles

0

Camelot and its Discontents: Mad Men on DVD

I have a lengthy (and spoiler-packed, for better or worse) review of the third season of Mad Men (now out on DVD) over on the Pajamas’ main page. Topics discussed include the show’s slightly skewed politics and history of the Kennedy-era 1960s, amongst other things.

0

Detroit Still Not Serious About Getting Its House in Order

Detroit’s bankruptcy was created by decades of fiscal irresponsibility. Politicians ruined the economy with high taxes to finance their lavish

28

NBC’s Viera Scolding Scott Brown on Today Show

Meridith Viera seemed a bit annoyed that she was interviewing the newly elected Republican Scott Brown instead of Democrat Martha