Friday, March 15, 2013

Backlash

I guess there's only so much tax money for our fine, entertainment conglomerates.

Gov. Susana Martinez opposed the so-called “Breaking Bad bill” that would have raised the state’s film tax credit to 30% from 25% for TV series shooting at least six episodes in New Mexico, AP reported. Martinez told the Legislature she supports the film industry but objected to a subsidy just for Hollywood rather than making it part of an overall package of economic incentives ...

I would be willing to wager the rent money that, as time moves along, tax funds will start to dry up for the various "Cash for Hollywood" bills that now litter the Canadian provinces and various U.S. states. There is, after all, only so much moolah to go around, and voters will start to catch wise that large entertainment conglomerates are getting too sweet a deal. And then rebel.

Long-term tax subsidies are inherently unstable and hard to sustain. Over time, tax payers resent the largesse, and look around for politicians who will spend dollars on them ... or not spend dollars at all.

1 comments:

Manos73 said...

"The $1.5 billion in subsidies that states provide, according to the Center on Budget and Policy Priorities, "would have paid for the salaries of 23,500 middle school teachers, 26,600 firefighters, and 22,800 police patrol officers." http://online.wsj.com/article/SB10001424127887324880504578298080119811240.html

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