Cato calls Jindal's hand on film tax welfare-- - Page 9 - TigerDroppings.com

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Ole War Skule
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North Shore
Member since Sep 2003
973 posts

re: Cato calls Jindal's hand on film tax welfare--


quote:

Go take a look at the R&D tax credit that refunds up to 40% of a qualified company's expenditures related to the research and development of a product. I can keep going...


You keep going on how govt gives some a free ride while others buy the bus.
THAT'S THE PROBLEM.






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Golfer
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Coral Bay, St. John, USVI
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re: Cato calls Jindal's hand on film tax welfare--


quote:

He cannot find an incentive of any kind outside the DM and film tax credit that is rebated in cash, is unlimited and is tied to operating expenses.


The DM credit is not tied to operating expenses.






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I B Freeman
Member since Oct 2009
5490 posts

re: Cato calls Jindal's hand on film tax welfare--


quote:

quote:
Wrong. Those are not redeemable or transferrable. The company has to use it against tax they generate.


They are refundable and have been since 2009.


Link please. I went to the site and no mention is made of that.

IF they are they suck too. Who determines what is research and what is not BTW?






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Golfer
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Coral Bay, St. John, USVI
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re: Cato calls Jindal's hand on film tax welfare--


all you need to know about R&D

quote:

IF they are they suck too.


Btw, I love your logic. You beg for me to show you other industries that can benefit like DM insinuating that it isnt fair for other business. I then show you an incentive, and now it sucks.

Classic.



This post was edited on 10/9 at 10:01 pm


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I B Freeman
Member since Oct 2009
5490 posts

re: Cato calls Jindal's hand on film tax welfare--


quote:

The Digital Interactive Media and Software Development Incentive provides a tax credit of 25% of qualified production expenditures for state-certified digital interactive productions in Louisiana and 35% tax credit for payroll expenditures for Louisiana residents.


Since when are production expenditures and payroll not operating expenses???






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Ole War Skule
LSU Fan
North Shore
Member since Sep 2003
973 posts

re: Cato calls Jindal's hand on film tax welfare--


quote:

Are more than 50% of Jim's BBQ pits being sold outside the state? If not, then he isn't an economic generator.


Spoken like a true soviet planner.

None of your damn business where he does business. You
Think you can plan the economy. You can't. Even if you could IT IS NOT FAIR for Jim to pay taxes when the big guy next door doesn't.

I avoided piles of state taxes over the years because I knew something's about industrial tax exemptions and buying movie credits. The little welding shop across town has no staff or time for that.






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Golfer
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Coral Bay, St. John, USVI
Member since Nov 2005
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re: Cato calls Jindal's hand on film tax welfare--


quote:

Since when are production expenditures and payroll not operating expenses???


They are. However not all operating expenses are production expenses.






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Ole War Skule
LSU Fan
North Shore
Member since Sep 2003
973 posts

re: Cato calls Jindal's hand on film tax welfare--


Golfer I gotta go to sleep. You really should take some time and think about the logic and fairness about your 'schemes'. You do not have the mental capacity to calculate and understand the full ramifications of targeted welfare programs.

You can't prove the effectiveness and I can prove the unfairness of these programs. They ALL need to go away.



This post was edited on 10/9 at 10:07 pm


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Golfer
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Coral Bay, St. John, USVI
Member since Nov 2005
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re: Cato calls Jindal's hand on film tax welfare--


quote:

None of your damn business where he does business.


It is when we are talking about multipliers and the benefit of the state.

quote:

I avoided piles of state taxes over the years because I knew something's about industrial tax exemptions and buying movie credits.


Now wait just a minute. You're bitching about something you've taken complete advantage of?

And the industrial property tax exemption is not a reduction in state taxes.






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I B Freeman
Member since Oct 2009
5490 posts

re: Cato calls Jindal's hand on film tax welfare--


quote:

all you need to know about R&D

quote:
IF they are they suck too.


Btw, I love your logic. You beg for me to show you other industries that can benefit like DM insinuating that it isnt fair for other business. I then show you an incentive, and now it sucks.

Classic.


Any incentive that give cash money to some business for their expenses and not others SUCKS and is an amoral use of taxpayer money.

I do appreciate you taking time to point out other taxpayer screwing.

However from that link I see the R&D credit is much, much more restrictive than the film tax welfare or the DM welfare. It even requires with comply with IRS definitions of R&D.

You still have not shown me a credit like the R&D and the DM. They are out and out abuses of Louisiana tax payers and give companies in those industries unfair advantages in purchasing and labor.






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Ole War Skule
LSU Fan
North Shore
Member since Sep 2003
973 posts

re: Cato calls Jindal's hand on film tax welfare--


quote:

It is when we are talking about multipliers and the benefit of the state.


Ok. Then I want to see where you spend your money. If you spend it out of state, like the bvi, I want you to pay a higher tax rate than me since I keep my dollars home and have a higher multiplier.







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Golfer
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Coral Bay, St. John, USVI
Member since Nov 2005
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re: Cato calls Jindal's hand on film tax welfare--


quote:

give companies in those industries unfair advantages in purchasing and labor.


Do tell...






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I B Freeman
Member since Oct 2009
5490 posts

re: Cato calls Jindal's hand on film tax welfare--


quote:

quote:
give companies in those industries unfair advantages in purchasing and labor.


Do tell...


Are they not buying their labor and their other expenses 25-35% cheaper since they are getting a cash reimbursement from taxpayers?






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I B Freeman
Member since Oct 2009
5490 posts

re: Cato calls Jindal's hand on film tax welfare--


Still waiting on an example of a state incentive that pays a business 25-35% of their expenses in cash money besides the DM and film tax credit and to a limited degree--very limited--the R&D credits.





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Golfer
LSU Fan
Coral Bay, St. John, USVI
Member since Nov 2005
56894 posts
 Online 

re: Cato calls Jindal's hand on film tax welfare--


quote:

Are they not buying their labor and their other expenses 25-35% cheaper since they are getting a cash reimbursement from taxpayers?


You think the savings are up front? As in they can pay an employee 35% less?






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I B Freeman
Member since Oct 2009
5490 posts

re: Cato calls Jindal's hand on film tax welfare--


Golfer will you agree to these statements:

that refundable and or transferrable tax credits to businesses are essentially welfare payments to businesses.

that refundable and or transferrable tax credits are direct cost to taxpayers as the business did not generate the taxes to cover them.

that refundable and or transferrable tax credits differ from almost all the other state incentives in that they require money from other taxpayers to support. That other incentives are revenue neutral for the state treasury because they are basically relief of taxes that business generates.

Surely we can agree on those.






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I B Freeman
Member since Oct 2009
5490 posts

re: Cato calls Jindal's hand on film tax welfare--


quote:

You think the savings are up front? As in they can pay an employee 35% less?


Same impact is it not? When they pay a guy in January his full salary they only have financing cost of carrying the 35% rebate until the state redeems it. I guarantee you the IRS sees it as the same and taxes it as income--as profit.



This post was edited on 10/9 at 10:23 pm


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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
81339 posts

re: Cato calls Jindal's hand on film tax welfare--


quote:

You do not have the mental capacity to calculate and understand the full ramifications of targeted welfare programs

The irony of this statement is mind boggling!

Golfer has pwned you and Freeman with facts and logic for the last three pages.

In return the two of you have thoroughly displayed a wealth of ignorance so common among the uneducated, paranoid masses of Louisiana. The same ignorance that kept Louisiana from getting even one of the three automobile (Mercedes, Kia and Hyundai) manufacturing plants which Alabama and Georgia got using tax incentives and infrastructure commitments.

By your logic, Louisiana was the winner by NOT getting these multi-billion dollar manufacturing facilities to locate here.
Hell, who wants those thousands of high paying, high benefits jobs here when all you want is to have a sweet potato farmer hire his high school dropout, minimum wage earners instead?!?




This post was edited on 10/9 at 10:30 pm


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Ole War Skule
LSU Fan
North Shore
Member since Sep 2003
973 posts

re: Cato calls Jindal's hand on film tax welfare--


quote:

And the industrial property tax exemption is not a reduction in state taxes


You're mincing words. No it's not a reduction in state taxes but the state pays my local property taxes so it is a freebie I got from the state.

You can rephrase that all you like but I had a manufacturing. Exemption in an enterprise zone and paid no property taxes and was given all sorts of silly training money for hiring people on govt assistance.






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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
81339 posts

re: Cato calls Jindal's hand on film tax welfare--


quote:

Same impact is it not

You're too stupid to know what is a qualifier to get the tax credits. The expenditures must come first (minimum of $300,000) before the movie firm can get the credits.






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