So in addition to taxpayer dollars during a "budget crisis" being spent on the Governor jetting around the state and for a multi-billion dollar company making higher profit margins than Exxon Mobil, now the state Senate has approved larger taxpayer handouts to Hollywood big shots:
North Carolina lawmakers are pushing through a hefty increase in the tax credit for movie makers even though a study commissioned by the state film office says the state would lose money on the deal for at least two years.
The Senate on Wednesday gave final approval to legislation that would raise the film tax credit from 15 percent to 25 percent of qualifying expenditures in the state.
The bill now goes to the House.
Note that even a study commissioned by the state film office admitted this deal will lose money for the state. They do claim, however, that this incentive will "pay off" down the road. Yeah, right.
Currently, the state of Michigan has perhaps the most generous film incentives in the country. The incentives are promoted under the guise of "creating jobs." How's that working out for you, Michigan? Oh, unemployment still highest in the nation, currently at 14.1% – sorry.
Even socialist fake-umentary filmmaker Michael Moore recognizes the ridiculous notion of using hard-earned taxpayer dollars to subsidize Hollywood moguls:
During a Traverse City forum featuring Michigan Film Office Director Janet Lockwood, Moore said, “These are large multinational corporations — Viacom, GE, Rupert Murdoch — that own these studios. Why do they need our money, from Michigan, from our taxpayers, when we’re already broke here? I mean, they play one state against the other, and so they get all this free cash when they’re making billions already in profits. What’s the thinking behind that?"
State lawmakers and big government apologists continue to try to convince us that state spending is already down "to the bone" and that only new taxes can prevent people from dying. In the meantime, we continue to dole out millions for government jets, buying a mountain, shellfish and oysters, the symphony, bribes to multi-billion dollar corporations and Hollywood fat cats. Teachers and social service workers, keep this in mind as you hear continued threats to your funding.
I'll start believing our budget makers' claims that "massive cuts" to "essential services" are "necessary" as soon as they start acting like they are.