Skip to comments.A corporate tax break Democrats adore
Posted on 08/16/2011 6:13:54 AM PDT by artichokegrower
Democratic politicians and liberal groups, including unions, often rail against corporate tax loopholes as unjustified raids on the public treasury as they should.
Loopholes are particularly troublesome during periods, such as this one, when state and local budgets are leaking red ink and basic public services are being slashed.
But one multimillion-dollar loophole draws vocal support from those who usually oppose corporate tax breaks one that happens to benefit a heavily unionized industry whose top executives are overwhelmingly Democrats and contribute lavishly to the party's candidates and causes.
That would be Southern California's movie and television production community.
Two years ago, former movie star Arnold Schwarzenegger signed a tax credit for in-state film production. This year, Assemblyman Felipe Fuentes, D-Sylmar, introduced legislation to extend the $100 million-per-year subsidy for five additional years potentially creating a half-billion-dollar hit on the state budget.
Assembly Bill 1069 sailed through the Assembly on a 77-1 vote the sole dissenter being Fullerton Republican Chris Norby and then through the Senate Governance and Finance Committee unanimously.
It hit the Senate Appropriations Committee on Monday and was universally praised by committee members and lobbyists for the film industry and its unions.
(Excerpt) Read more at sacbee.com ...
They subsidize Hollywood because they are an important tool used by the left to subvert, pervert, and convert the proles.
I bet those film industry leaders and movie stars fly around in private jets also. Come on Obama where’s the outrage?
You KNOW they do.
This administration (or even this government) looks down it’s nose at “the little people” ...
They are elitist, all.
The movie people (and anyone in entertainment) are special to them ... they have risen above the rest of us and should be shown the respect that having become “special” (like political office) brings them.
What a bunch of hypocrites !
Let them eat cake indeed ...
The only reason basic services are slashed in California is because the local and State Democratic governments refuse to touch entitlements, welfare and union subsidies. With basic services (police, fire depts., prisons, etc.) cut, the hoi poloi are met with indifferent shrugs from the Democrats and replies that snivel for more taxes.
Dems always threaten basic services while protecting their big labor benefactors’ special interests. It’s about time the voters got a clue. The “free press” are worse than useless.