A Taxing Reality
OK, you’re probably sick of reading posts about taxes, but I had to address something I just read in today’s Wall Street Journal. The entertainment industry is skewed to the left in a very big way, with many in Hollywood pushing for higher taxes on individuals and businesses. Interesting how their idealogy doesn’t apply to their own industry.
Today’s opinion “Tax Me If You Can” in the WSJ (http://online.wsj.com/article/SB123698885439126181.html ) makes clear how one of the biggest liberals in Washington feels about taxes on his industry. Alec Baldwin had this to say when the Governor of New York recently considered removing a tax break for the film industry: “I’m telling you right now,” Mr. Baldwin declared, “if these tax breaks are not reinstated into the budget, film production in this town is going to collapse, and television is going to collapse and it’s all going to go to California.”
Isn’t that interesting. Taxes do matter to Baldwin, and the rest of the Hollywood elite, when it affects their business. I guess it’s OK for guys like me to get slammed and receive ZERO tax breaks since I can’t just get up and move my business to a more friendly tax climate.
For all of those people that think that tax cuts hurt revenues, I suggest you actually take a look at how actual tax cuts, including the Bush tax cuts, INCREASED revenues to our government. This has happened every time that tax cuts have been made…history clearly shows this, yet the left isn’t interested in reality. The entertainment industry understands this when it comes to their business.
What the left is interested in doing is what Obama said on the campaign trail…redistributing the earnings of American’s as the government sees fit.
And that is an economic killer…just ask the film industry and Alec Baldwin.
