Per this N&O article, North Carolina doled out perhaps an all-time high in tax breaks to Hollywood movie studios. That’s right, while Gov. Perdue was arguing to raise the sales tax on hard working, low-income North Carolinians by close to a billion dollars, she also supported a tax break for billion-dollar film production corporations.
While the Governor’s office and the N.C. Film Office may celebrate the number of movies being filmed in NC due in part to the tax breaks, such tax incentives are merely another example of government’s attempt to centrally plan the economy, while dispensing special privileges to targeted industries and companies. Why should film production be given special tax treatments not enjoyed by other industries?
Time and again Perdue has shown her crony capitalist colors, dispensing special government-granted privileges to billion-dollar corporations; all the while supporting increases in regressive taxes like the sales tax and gas tax that hit poor people the hardest.
UPDATE: The orginal post said the amount of tax breaks totaled $220 million in 2011. That was incorrect, as the $220 million actually referred to the amount of money spent by the movie studios.