Hubris – Governator Cuts Taxes For Friends, Raises The Restby Brad Warbiany
$42B in budget shortfalls. A new budget raising taxes statewide by $12B. Is this a good time for a giveaway to the entertainment industry?
Gov. Arnold Schwarzenegger, a former movie actor, has been trying for years to get tax credits to keep California’s signature industry at home.
He got his wish early Thursday when the Legislature approved tax credits for film and television productions as part of an economic stimulus provision of the new state budget.
The credits — capped at $500 million over five years — are modest compared with those offered by other states.
I don’t have to tell readers here that I’m anti-tax. I don’t have to tell you that I’m almost universally for lower taxes, whenever and wherever I can get them. I further applaud tax reductions that I don’t necessarily get to take, because I know that if I could get those like that for myself, I would be very happy to take advantage of them.
But after all that, I can’t help but find myself enraged by this bullshit. They’re slapping new income and sales taxes on me (thankfully I think we dodged the alcohol tax increase), while offering $500M in tax credits to the MOVIE INDUSTRY?! Time for another recall.