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

15

A Tale of Two Anti-Semitic Rants: Oliver Stone’s Not So Bad, Mel Gibson’s Horrible

Some of you may recall that early in the morning of July 28 of 2006 actor Mel Gibson was arrested

5

Known Thug Alec Baldwin Claims U.S. ‘Will Never Be Great Again’ Under Romney

Alec Baldwin is warning the country. “America will never be great again under a Romney administration,” the volatile actor sonorously

27

TIME Mag Does Not Know What ‘Influential’ Means with Top 100 Most Influential People

Like all too many Americans TIME Magazine proves that it doesn’t know what is worth celebrating, noting, or memorializing in