At 11.1%, North Carolina’s unemployment rate is tied for eigth highest in the nation. State revenues are below projections for this year, and so sluggish that next year’s projections are likely to be revised downward. Struggling North Carolina families are scraping together funds to pay their taxes, or waiting as the state holds on to their refunds.
So, Governor Perdue, what are you doing to help the little people?
The disconnect is so appalling, even certifiable left-wing nutjob Micheal Moore recognizes the shamefullness of such actions.
The administration will defend their actions, of course, by saying these tax credits will help “create jobs.” Unfortunately for them, “a study commissioned by the state film office says the state would lose money on (increased film tax credits) for at least two years.”
Moreover, the Tax Foundation issued this special report on state film tax credits and concluded, “Movie production incentives are costly and fail to live up to their promises.” The Locke Foundation also issued a report that suggested tax film credits will have a net negative effect on North Carolina’s budget.
Is this the best the “jobs Governor” has to offer?