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.
Great news — we are only a couple weeks away from Tax Freedom Day: The day when the nation collectively
Let’s jump way back in time to the beginning of the week. Some guy said this at a commencement ceremony.
NBC reports that the 2010 winter Olympics are being hampered by an overzealous commitment environmentalism. But what did the 2008 summer Olympics think of greener-than-thou NBC deploying outdoor air conditioning(!) to cool their set during the 2008 summer Olympics in Beijing?