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July 08, 2011

Cut Expenditures In The Tax Code For... Hollywood

"Cutting expenditures in the tax code" is Obama's code for "increase taxes by ending credits and deductions," of course.

Meanwhile, Hollywood gets a big fat subsidy for productions in America.

Here's the thing: As Russ tried to say with regard to ethanol tax subsidies, it's hard for conservatives to get too upset that someone is getting a tax break.

But the problem is that this system is feudal, with the well-connected and politically favored getting a special lower tax rate while the unconnected and politically disfavored pay full freight.

We pay more so that some can pay less.

The other interesting thing I note is that liberals always seem to understand that lower taxes spur economic activity -- but if and only if it is themselves getting the favorable tax treatment.

Hollywood of course lobbied for this special break, most likely to keep productions from moving to other countries (first England, and lately, Canada).

So when it comes to their industry, they get that higher taxes --and higher production costs due to unionized labor!-- create a barrier to economic production, and lower taxes and lower production costs due to cheaper labor create an environment for economic creativity.

But when it comes to every other industry? Every other American?

Suddenly they get dumb and pretend like they forgot about this.

Alec Baldwin, I'm sure, is currently the beneficiary of a special break for productions filmed in New York City.

But will he ever extend his thinking to realize that maybe lower taxes are good for all other sectors, too?

No, of course not. They want their own Special Rules for Special People, and they want everyone else to pay through the nose to cover the Special People's compassion-spending.


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posted by Ace at 03:34 PM

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