Hollywood: Reaganomics for Me, Obamanomics for Thee

Hollywood: Reaganomics for Me, Obamanomics for Thee

The Los Angeles Times reports that the entertainment industry is again out begging any state that will listen, including of course California, for more Reganomics. Tax cuts! Hollywood wants Big, fat slices of tax cuts! Tax cuts for the for rich! Tax cuts to make the rich richer! The nationwide Hollywood-beg is on for billions in corporate welfare:

[California State lawmaker] Mr. Bocanegra is leading an aggressive push, along with entertainment companies and Hollywood unions, to hand out as much as $2 billion in new tax breaks to increase movie and television production in California, which has lost business to states like New York with far more generous subsidies. Last year, for the first time, more studio movies were filmed in Louisiana than in California, according to the nonprofit FilmL.A. …

Nationwide, about $1.5 billion in tax breaks is awarded to the film industry each year, according to a 2012 survey by The New York Times. Several tax policy groups oppose film incentives; a 2010 report by the nonprofit Tax Foundation said states justified them using “fanciful estimates of economic activity” and they largely just shift production from one sector to another without producing a net increase in economic activity or employment.

Apparently, left-wing Hollywood believes that lowering taxes only creates jobs in the entertainment industry. How else to explain why this same industry champions politicians and lawmakers and causes that mean higher taxes for the rest of us as they lobby for lower taxes for themselves?

When Hollywood is dealing with its own reality, legions of lobbyists are dispatched to beg to be blessed by the principles of Reaganomics.

And why not? Those policies blasted us out of a recession every bit as bad as the one Obama inherited.

Then why, you might ask, do our Hollywood overlords want the rest of us doomed to Obamanomics?

Simple, they are awful, selfish, and greedy people.


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