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I B Freeman
Member since Oct 2009
2263 posts
| re: Cato calls Jindal's hand on film tax welfare-- (Posted on 10/9/12 at 10:51 am to Interception)
quote:
Herein lies the confusion
Read the link above to the Forbes article
I have an Aunt that provides comprehensive healthcare inside those car facilities. She provides cheaper insurance, in house pharmacies, wellness centers etc. We were talking about about the multiplier effect and she says its unbelievable the supply chain benefits these states gain by having these plants. The real economic impact sometimes is not as tangible as skeptics will point too. It's there though.
ETA: The Film industry gradually moving to Louisiana is a process. Just the spinoff business we are seeing is amazing.
The findings of the LBP report are much more reputable than the statements of a film tax credit broker and the handful of people that are benefiting from the welfare.
It does not pay and never will so long as the credits are transferrable and so long as other employers have to compete with them for labor without the credits.
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LSURussian 
LSU Fan
Baton Rouge
Member since Feb 2005
63835 posts
| re: Cato calls Jindal's hand on film tax welfare-- (Posted on 10/9/12 at 11:13 am to I B Freeman)
quote:
Are you so simple in your thinking that you do not believe that there are negative consequences to subsidizing one industry over another?
When the industries do not compete for the same customers or resources, there is very little downside to developing a new industry in the state.
If you think there are downsides, list them.
quote:
Tell me about negative multipliers.
No, YOU tell ME about negative multipliers. This will be entertaining if not enlightening.....
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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
63835 posts
| re: Cato calls Jindal's hand on film tax welfare-- (Posted on 10/9/12 at 11:14 am to I B Freeman)
quote:
It does not pay and never will so long as I, I B Freeman, have no idea what I'm talking about....
FIFY
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Ole War Skule
LSU Fan
North Shore
Member since Sep 2003
438 posts
| re: Cato calls Jindal's hand on film tax welfare-- (Posted on 10/9/12 at 11:48 am to I B Freeman)
This is one scary-ass thread. I somehow continue to be amazed that sheep buy into these schemes. Funny thing is I did buy a boatload of these tax credit a few years back and didn't have to pay ANY state income taxes when I sold a business.
Oh. And I didn't pay ANY property taxes on a big warehouse I built on a manufacturing tax abatement program. At the same time other businesses next door to me were paying for the roads police and other govt services.
Do the credits bring new money into the state? Yes Well, lets give the same tax credits to ALL businesses AND all individuals and bring in even more! Oh wait. That won't work. Someone has to pay taxes so well let some politician decide which individuals and businesses have to pay taxes and whom their taxes will be paid to.
Wait. I have an even better idea. Lets just have the state write everyone a check for a zillion bucks. Think of all the jobs that would create!
No point in calling out individuals on this but some posters in this thread are really complete morons. It's one thing to sit back and be taken advantage of, but to become an advocate for people robbing you blind is beyond ironic.
Central govt economic planning worked so well in china, the Soviet Union, North Korea, and Cuba I can see why everyone seems to want to try again in the good ole USA.
Cheers!
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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
63835 posts
| re: Cato calls Jindal's hand on film tax welfare-- (Posted on 10/9/12 at 12:17 pm to Ole War Skule)
Can you spell H-Y-P-O-C-R-I-T-E???
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Blue Velvet 
Colorado State Fan
Venice, LA
Member since Nov 2009
12739 posts
| re: Cato calls Jindal's hand on film tax welfare-- (Posted on 10/9/12 at 12:23 pm to LSURussian)
quote:
Can you spell L-I-N-K???
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C
LSU Fan
The Woodlands, TX
Member since Dec 2007
17508 posts
| re: Cato calls Jindal's hand on film tax welfare-- (Posted on 10/9/12 at 12:23 pm to Ole War Skule)
You're thinking of Louisiana as a closed system with the film industry hoarding buckets of money from Louisiana. The fact is by give huge credits, money is being brought into Lousiana at least a 2:1 clip. Think about that.
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TigerRad
LSU Fan
Columbia, SC
Member since Jan 2007
3238 posts
| re: Cato calls Jindal's hand on film tax welfare-- (Posted on 10/9/12 at 12:40 pm to C)
quote:
brought into Lousiana
yes but not into the state coffers (where the payments are drawn from)
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C
LSU Fan
The Woodlands, TX
Member since Dec 2007
17508 posts
| re: Cato calls Jindal's hand on film tax welfare-- (Posted on 10/9/12 at 12:43 pm to TigerRad)
quote:
where the payments are drawn from
where are the state coffers drawn from?
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I B Freeman
Member since Oct 2009
2263 posts
| re: Cato calls Jindal's hand on film tax welfare-- (Posted on 10/9/12 at 12:48 pm to C)
quote:
where are the state coffers drawn from?
The state guarantees you can sell the credit for 85 cents on a dollar to the state.
You advocates haven't a clue. Bunch of big government liberals.
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Catman88
LSU Fan
Baton Rouge, LA
Member since Dec 2004
36665 posts
| re: Cato calls Jindal's hand on film tax welfare-- (Posted on 10/9/12 at 12:48 pm to I B Freeman)
wait... Lets get back to this.
quote:
Tell me about negative multipliers.
Wut??
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TigerRad
LSU Fan
Columbia, SC
Member since Jan 2007
3238 posts
| re: Cato calls Jindal's hand on film tax welfare-- (Posted on 10/9/12 at 12:49 pm to C)
quote:
where are the state coffers drawn from?
yes, but my point is your 2:1 comparison is apples/oranges.
"economic impact" dollars =/= government dollars
with income taxed at 6%, it would take $17 in salaries to replace a state outlay of $1.
eta: not counting the "velocity" factors that Russian loves so much, which I do agree with
This post was edited on 10/9 at 12:52 pm
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I B Freeman
Member since Oct 2009
2263 posts
| re: Cato calls Jindal's hand on film tax welfare-- (Posted on 10/9/12 at 12:50 pm to Ole War Skule)
quote:
This is one scary-ass thread. I somehow continue to be amazed that sheep buy into these schemes. Funny thing is I did buy a boatload of these tax credit a few years back and didn't have to pay ANY state income taxes when I sold a business.
Oh. And I didn't pay ANY property taxes on a big warehouse I built on a manufacturing tax abatement program. At the same time other businesses next door to me were paying for the roads police and other govt services.
Do the credits bring new money into the state? Yes Well, lets give the same tax credits to ALL businesses AND all individuals and bring in even more! Oh wait. That won't work. Someone has to pay taxes so well let some politician decide which individuals and businesses have to pay taxes and whom their taxes will be paid to.
Wait. I have an even better idea. Lets just have the state write everyone a check for a zillion bucks. Think of all the jobs that would create!
No point in calling out individuals on this but some posters in this thread are really complete morons. It's one thing to sit back and be taken advantage of, but to become an advocate for people robbing you blind is beyond ironic.
Central govt economic planning worked so well in china, the Soviet Union, North Korea, and Cuba I can see why everyone seems to want to try again in the good ole USA.
Cheers!
It is very scary. Crazy talk.
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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
63835 posts
| re: Cato calls Jindal's hand on film tax welfare-- (Posted on 10/9/12 at 12:51 pm to TigerRad)
quote:
with income taxed at 6%, it would take $17 in salaries to replace a state outlay of $1.
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TigerRad
LSU Fan
Columbia, SC
Member since Jan 2007
3238 posts
| re: Cato calls Jindal's hand on film tax welfare-- (Posted on 10/9/12 at 12:52 pm to LSURussian)
quote:
LSURussian
its ok bro, i edited 
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I B Freeman
Member since Oct 2009
2263 posts
| re: Cato calls Jindal's hand on film tax welfare-- (Posted on 10/9/12 at 12:54 pm to Catman88)
quote:
wait... Lets get back to this.
quote:
Tell me about negative multipliers.
Wut??
Why is that so hard to grasp. If a subsidized industry hires away an employed person from another industry how do you say the subsidies "multiplies" in the economy? If the state takes takes from me to give to the film industry what happens to the multiplication that would have happened to my money?
I know you don't believe it for some crazy reason you have concocted in your mind but the state DID take from all tax payers over $200 million this year and decided film makers should have it.
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C
LSU Fan
The Woodlands, TX
Member since Dec 2007
17508 posts
| re: Cato calls Jindal's hand on film tax welfare-- (Posted on 10/9/12 at 12:55 pm to TigerRad)
quote:
economic impact" dollars
no they aren't GDP dollars, it's dollars coming to Louisiana that weren't here before. Basically we are telling people for every $1 they give to Louisiana, we will give them $.30. yes one come from the coffers and one goes to "the people" but it increases the value of the system as a whole.
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I B Freeman
Member since Oct 2009
2263 posts
| re: Cato calls Jindal's hand on film tax welfare-- (Posted on 10/9/12 at 12:55 pm to LSURussian)
quote:
When the industries do not compete for the same customers or resources
You want to explain just how that is possible when you are dealing with labor and buildings and food and electricity, ect.. We businesses are all competing for those resources are we not?
You are grasping.
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chinhoyang
LSU Fan
Member since Jun 2011
4420 posts
| re: Cato calls Jindal's hand on film tax welfare-- (Posted on 10/9/12 at 12:57 pm to I B Freeman)
The film industry strongly benefits the state (which is why other states are always trying to emulate our film tax incentives).
The film industry brings jobs to the state. It brings a unique form of publicity. It brings in people with money, who may spend that money on non-film projects.
Plus, Louisiana is a state that should have a rich film, music and stage industry.
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C
LSU Fan
The Woodlands, TX
Member since Dec 2007
17508 posts
| re: Cato calls Jindal's hand on film tax welfare-- (Posted on 10/9/12 at 12:58 pm to I B Freeman)
quote:
the state DID take from all tax payers over $200 million this year
And how much did the film industry give the tax payers in return?
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