Arec has no crue
Posted on 03/09/2009 12:07:07 PM PDT by SeekAndFind
In one of the more ironic interviews in recent memory, Alec Baldwin last week told local cable news host Dominic Carter that Governor David Paterson should keep the current tax incentives for film and television companies that set up shop in New York. "I'm telling you right now," the actor warned, "if these tax breaks are not reinstated into the budget, film production in this town is going to collapse, and television production is going to collapse, and it's all going to go to California."
Currently, film and TV companies get 30% tax break on production costs for shows shot in New York. Baldwin's point was that if you take away that incentive -- in effect, you raise the tax rates on these companies -- you're going to wind up with less actual tax revenues coming into the state's coffers. A lower percentage of something is still more than higher percentage of nothing.
What the uber-liberal Baldwin has lately wrapped his mind around is the message conservative economists have preached for decades: Hiking the government's cut of taxpayers' earnings doesn't necessarily mean hiking total tax dollars the government is taking in.
It's an idea everyone understands, intuitively. Once you start tinkering with tax rates -- and this goes for any kind of tax -- you run the risk of affecting people's behavior. Suppose, for example, New York Mayor Michael Bloomberg and the City Council decided to address city's dire budget deficit by raising the sales tax on goods and services purchased in five boroughs from the present 8.35% to 99%. Sounds logical, on paper. Think of all the extra money city would rake in!
Except we all know what would happen. Consumers would immediately stop buying stuff in the city. They'd shop in New Jersey, Long Island, Westchester County instead.
(Excerpt) Read more at spectator.org ...
“I’m telling you right now,” the actor warned, “if these tax breaks are not reinstated into the budget, film production in this town is going to collapse, and television production is going to collapse, and it’s all going to go to California.”
Where’s Alec bin? A lot of television production has moved out of CA too. Can you say, “Vancouver?”
What's the world coming to when (1) Alec Baldwin makes a logical assessment and (2) companies flee TO California to seek refuge from taxes.
I thought that taxes were driving business out of California. If they leave NY, why go back to California??
If Hollywood and TV production slow down, is it really such a loss?
Don’t tax you, Don’t tax me, tax the fellow behind the tree thinking. What does he think happens to other industries when they get taxed.
Wanna bet? It'll move to Canada.
Funny how liberals understand tax breaks for their own particular industry but want to raise taxes on everyone else’s industry.
He quit drinking for a day?
Translation: “Tax the ‘Red State’ industries!!!”
What’s Alec saying?
That high taxes are detrimental to business?
I thought it was only “fair” and “neighborly”...
It went to Canada in 1996, then to Australia, then to South Africa.....now.....who knows with the exchange rates.....
LOLOL!
“A lower percentage of something is still more than higher percentage of nothing.”
Alec Baldwin finally figured THIS out?
A pink pig just flew by my window.
Go ahead Alec, fight for that tax break to keep your “industry” going.
Just don’t complain when your income is capped at 500K.
Yep, Alec was showing his ignorance again. Taxes are high in California.
“A pink pig just flew by my window.”
Hillary’s visiting y’all?
Why should liberal artsy types get a pass on the taxes they insist everyone else has to pay?
Too bad hothead can’t figure out that the same logic applies to ALL businesses.
Nothing would be more pleasurable than to see Hollywood collapse!! Perhaps a few beach front properties would be foreclosed on and auctioned off to some section 8 folks!
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