How many jobs were created? …….
Interesting question. They say that 92,000 were created.
Yet, only 2 or 3 weeks ago there was a story about a State House Rep wanting to cap the subsidy, Ralston and others having a baby over the proposed bill, and they were all complaining about the state losing 10,000 jobs.
Quite the difference between 92,000 and 10,000.
And I think just as importantly, how much tax revenue is generated from all of this. It’s insanely easy for companies to cook the books, with a 70k page tax code and an army of bean counters, lawyers and accountants. It’s funny to read and hear folks complain about Amazon, GE and other companies not paying taxes. Most folks are incapable of grasping tax deductions and business expenses.
Oh…..they made a movie in Georgia. Great. Georgia should be getting all sorts of tax revenue. NOPE. After our calculations we’ve learned that our expenses were actually slightly more than what we expected and therefore we need some Georgia taxpayer money. Otherwise we’re leaving.
So, some homeowner gets a break and they use the house for 5 days of filming. Homeowner gets paid. Homeowner has to report the income and pay taxes. Movie company writes off the business expense and pays no taxes on anything. Gets the tax money that the homeowner paid, back with the tax credit.
Great work if you can get it.
So, some homeowner gets a break and they use the house for 5 days of filming. Homeowner gets paid. Homeowner has to report the income and pay taxes. Movie company writes off the business expense and pays no taxes on anything. Gets the tax money that the homeowner paid, back with the tax credit.
Great work if you can get it.
* * * *
Wow, that scenario opened my eyes. Another clever con-job by the Riddlers. No movie/TV mogul needs to own any property in Georgia whatsoever. Lease it for a few days and get completely compensated for the rental expense when you sell the credit back to a homeowner anywhere in the state.
A few weeks ago, you turned my onto investigating this fraud, qaz123. And as I began researching it, the sinister nature of its design became more and more obvious as I read stories and connected the dots.
The audit report is what really blew the lid off for me. But even auditors need to couch their language a bit. That’s why airing the dirty laundry on a forum like Free Republic is so necessary.
But ultimately we still need to educate Georgia citizens about what’s going on. Nothing changes until citizens stand up, raise their pitchforks, and throw the crooks out of office.