Subsidies to filmmakers are a classic example of race-to-the-bottom tax policy. They don’t do much to create jobs or boost economic development. They do help trash the tax base. That reduces revenues and forces government to either raise tax rates or cut services—steps that actually can harm the economy. Hollywood tax breaks are just the sort of scam that Jordan Belfort, the real Wolf of Wall Street, would appreciate.
Posted on: Wed, 22 Jan 2014 06:31:09 +0000
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