* reduce finite state funds usually allocated for other needs
* benefit few citizens in one industry while leaving the tax burden to all taxpayers and other industries that are not subsidized
* foster a race-to-the-bottom mentality where states continually up-the-ante to "remain competitive"
that is taking a short view of the situation. Once movie companies start building studio’s and hiring trained individuals locally to work in them the revenue starts to flow. It is happening in Michigan.
Is MI governor Granholm listening? She is a big supporter of these subsidied and hand outs.
The story says that the tax credits have reduced overall tax revenues. The headline implies that the desired effect was "the opposite" of this.
Is there any evidence given that somebody seriously thought that the "desired effect" was to enhance tax revenues?