The most left-wing institution in America is about to get a special corporate tax carve out no other California industry will receive.
Why would a leftist institution like Hollywood want more of its own money when it tells the rest of us that government is better at spending money than people or corporations?
Why would a leftist institution like Hollywood want to keep more of its own money when it claims that every other tax cut “literally” kills people?
“The provision in question, Senate Bill 122, caps how much of a tax credit any company can claim in any given year at $5 million,” reports far-left CBS News. “For large productions that were eligible for up to $35 million in credits, lawmakers say that effectively cuts the value of California’s program in half.”
“More than 40 state legislators from both parties signed a letter to Gov. Gavin Newsom [D-Failure] demanding a fix before the end of the current legislative session in nearly six weeks,” adds the report. “I think it starts hurting productions now, so that’s why I think we have to fix it in the next month and a half,” said Assemblyman Rick Chavez Zbur (D-Hollywood).
“He also believes the fix is simple, with a one-sentence bill that should carve the film and TV jobs program out of SB-122 entirely.”
I don’t understand this. Why only the entertainment industry? If a $5 million cap on tax credits hurts the entertainment industry and kills jobs, doesn’t it hurt every other California industry and kill those jobs?
What about those jobs?
Hollywood should be outraged over this special interest carve-out for this massive corporation, even though they are this massive corporation, because muh principles.
Hollywood seems to believe that tax cuts only benefit the entertainment business and only save entertainment jobs, while tax cuts for anyone else “literally” kill people. We know this because whenever anyone tries to cut anyone else’s taxes, Hollywood screams about “tax cuts for the rich” and “people will die.”
Democrat politicians and Democrat voters obviously believe the same voodoo.
When people talk about special interests, corporate lobbying, and corrupt political dealing, Hollywood is among the very worst. Look at all the goodies. Billions in goodies. What’s especially gross about Hollywood is 1) the hypocrisy, and 2) that this is an industry that pumps out billions in propaganda fighting against anything that undermines the power of the State, especially tax cuts.
Whatever you might think of the oil industry, tobacco industry, or pharmaceutical industry, at least they don’t lobby as hard to receive tax cuts as they do to oppose anyone else receiving tax cuts.
I don’t know how much you hate the entertainment industry, but no matter how much, it isn’t enough.