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.

Also see...

Related Articles

22

Employee Levels Fall But New York’s Fringe Benefits and Pensions Costs Soar

FacebookTwitterEmail Pensions are the single biggest problem that every state, county and city in the Union face and New York

24

Stephen Fry Proves That Women Don’t Like Sex

FacebookTwitterEmail How does Britain’s Stephen Fry know that women don’t like sex? Because if they did, they would behave like

53

Obama: “Prosperity Grows From People With No Money”

FacebookTwitterEmail Yes, he was throwing down one his well used class warfare cards (Washington Times) Two days after Senate Republicans

Share This

Share this post with your friends!