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

17

Cook Medical Scraps Expansion Plans Over ObamaCare Medical Tax

The Democrats who wrote, passed, and support the “American Care Act” probably thought that companies would just roll over and

34

Dueling Tax Plans: GOP Small Business Tax Break Vs. Buffett Rule

One party pushes class warfare while the other pushes for job creation (Politico) With the glare of the public spotlight

0

Deutschland Deja Vu: The Baader Meinhof Complex

Watching The Baader Meinhof Complex’s titular Teutonic terrorist gang in action on the small screen, I was struck by déjà vu of it all. A small but growing band of radicals with a penchant for street theater, wishing to smash capitalism and destroy the system from within, led by a fanatical, brawling leader, with at least one articulate well-bred intellectual within the inner circle. Starting off by blowing up small, bourgeois shops. Eventually hooking up with sympathetic allies in the Middle East. Then killing American soldiers. And when finally cornered, going out in a Gotterdammerung of mass suicide rather than face punishment from their captors. That’s never happened in Germany before