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November 09, 2012

It's Time For Hollywood To Pay Its Fair Share as Part of a Balanced Approach

New tax: Any fee of $1 million or more, the performance for which is substantially completed over the course of six months or less, is hit with a 20% surtax above and beyond normal tax rates. If the work for fee is completed in five months or less, 30%; if the work for fee is completed in four months or less, 40%; if three months or less, 50%.

Reason? If you're making $10 million on a Hollywood shoot that lasts six weeks, that's not fair. Even among millionaires, that's not fair. The usual millionaire must work a full year for that kind of money. But a high paid actor, or athlete, can make that much in a season, and then take the rest of the year off.

That's leisure time the average person doesn't have-- even the average millionaire doesn't have it.

It's time to tax that, indirectly.

Let's take Glenn Reynolds' proposals seriously-- let's start making Hollywood and the Leisure Class pay its fair share.

I'd like to think of some way to tax the Kennedys' trusts at a higher rate. I don't know how to do that, though.


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posted by Ace at 01:46 PM

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