Spending on film tax credits would pay tuition at LSU for 70,000 students | TigerDroppings.com
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I B Freeman
Member since Oct 2009
7204 posts

Spending on film tax credits would pay tuition at LSU for 70,000 students

Tuition and fees at LSU for 15 hours is $3498. We spent about $250 million in film tax welfare in 2012.

That would pay in full the tuition of 71469 college students at LSU.

Sort of puts into perspective what the film tax welfare advocates are taking from us.

What is the multiplier impact of 71469 college educated citizens??


CamdenTiger
Member since Aug 2009
29150 posts

re: Spending on film tax credits would pay tuition at LSU for 70,000 students
(no message)


I B Freeman
Member since Oct 2009
7204 posts

re: Spending on film tax credits would pay tuition at LSU for 70,000 students
The proponents scurry for cover as the extent of their taxpayer abuse is put into perspective.


Lsut81
USA Fan
Member since Jun 2005
65732 posts

re: Spending on film tax credits would pay tuition at LSU for 70,000 students
quote:

We spent about $250 million in film tax welfare in 2012


Not agreeing with the Tax breaks that the industry gets, but a tax break =/= Spending


Does the state pay film companies to shoot in La or just not charge them as much taxes at they should?


Homesick Tiger
LSU Fan
Greenbrier, AR
Member since Nov 2006
15175 posts

re: Spending on film tax credits would pay tuition at LSU for 70,000 students
quote:

That would pay in full the tuition of 71469 college students at LSU.


I see your point but there is tons of scholarship money that gets paid out and then students don't always graduate and they don't have to pay it back. Until students guarantee their graduation or pay back their scholly money they used but didn't graduate, then I see waste of money for both scenarios.

However, I don't see a problem with DD getting "tax relief" as long as the students are not held accountable for graduating and/or not paying back unfulfilled scholarships and its intention.


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Strannix
LSU Fan
Bossier
Member since Dec 2012
1428 posts

re: Spending on film tax credits would pay tuition at LSU for 70,000 students
we spent or gave tax breaks?


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lsuroadie
LSU Fan
South LA
Member since Oct 2007
6262 posts

re: Spending on film tax credits would pay tuition at LSU for 70,000 students
we don't spend the money


jesus god almighty let the stupidity stop


Strannix
LSU Fan
Bossier
Member since Dec 2012
1428 posts

re: Spending on film tax credits would pay tuition at LSU for 70,000 students
why put it in that perspective? we don't have jobs for our current graduates?


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TrueTiger
LSU Fan
Chicken's most valuable
Member since Sep 2004
13021 posts

re: Spending on film tax credits would pay tuition at LSU for 70,000 students
quote:

Sort of puts into perspective what the film tax welfare advocates are taking from us.


I don't equate letting someone keep more of the money they earned in the first place as "welfare" or "spending".

This is one of those examples of where we are losing the language.


I B Freeman
Member since Oct 2009
7204 posts

re: Spending on film tax credits would pay tuition at LSU for 70,000 students
quote:


Does the state pay film companies to shoot in La


Yes. Cash money. Comes top line off the budget as revenues are reduced. Companies are guaranteed at least 85% cash for their credits and they are based on the expenses--not the income--the companies have. Very few if any recognize any income here to us the tax credits against. That would reduce their cash payments. They get minimum 30% of every dollar they spend on actor salaries (think Lindsay Lohan getting millions from your State), every sandwich they buy, every thing they can image to expense against their Louisiana productions while they move the films to distributor companies they own in states with no income taxes to recognize their revenue.

There is no line item in the budget for it because it is top line. There is no limit to them and now have been over $1 billion since they were put into place.
This post was edited on 4/27 at 9:29 am


Lsut81
USA Fan
Member since Jun 2005
65732 posts

re: Spending on film tax credits would pay tuition at LSU for 70,000 students
quote:

we don't spend the money


Thats why I'm asking the OP for clarification....



And if its that we aren't collecting taxes that we should, how much of the taxes that the state does collect from the film industry would disappear if the state started charging a higher tax rate


I B Freeman
Member since Oct 2009
7204 posts

re: Spending on film tax credits would pay tuition at LSU for 70,000 students
quote:

we don't spend the money


jesus god almighty let the stupidity stop



Of course we spend the money. Yes the stupidity needs to stop. You should tune in and quit being so stupid.


I B Freeman
Member since Oct 2009
7204 posts

re: Spending on film tax credits would pay tuition at LSU for 70,000 students
quote:

Thats why I'm asking the OP for clarification....



And if its that we aren't collecting taxes that we should, how much of the taxes that the state does collect from the film industry would disappear if the state started charging a higher tax rate


You don't get it--WE PAY THEM 30% OF THEIR EXPENSES. Tax credit is a misnomer in that it implies they must generate taxes to use them. That is not the case. They are fully transferrable enabling them to sell them AND if they don't want to sell them the STATE WILL WRITE THEM A CHECK FOR 85% OF THEIR VALUE.

It is out and out WELFARE.


Lsut81
USA Fan
Member since Jun 2005
65732 posts

re: Spending on film tax credits would pay tuition at LSU for 70,000 students
So you're saying that the State of La writes a check out of the annual budget to the film companies in excess of what they taking in tax wise from them?

Like this:

Check to Film Company: 1m
Taxes taken in from Film: 500k
State: -500k



I B Freeman
Member since Oct 2009
7204 posts

re: Spending on film tax credits would pay tuition at LSU for 70,000 students
quote:

Spending on film tax credits would pay tuition at LSU for 70,000 students
quote:
Sort of puts into perspective what the film tax welfare advocates are taking from us.


I don't equate letting someone keep more of the money they earned in the first place as "welfare" or "spending".

This is one of those examples of where we are losing the languag


THIS NOT MONEY THEY EARNED. This is money they spent. Has nothing at all to do with income or even income tax. We GIVE THEM at LEAST 30% of their expenses. IT IS WELFARE just like if we gave you 30% of your light bill or your grocery bill.


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Lsut81
USA Fan
Member since Jun 2005
65732 posts

re: Spending on film tax credits would pay tuition at LSU for 70,000 students
quote:

You don't get it--WE PAY THEM 30% OF THEIR EXPENSES


And how much $$$ over what we pay out do we actually bring in from them???

If the state takes in more than it pay outs, then its a good move.


BCSmess
LSU Fan
earth
Member since Jan 2013
440 posts

re: Spending on film tax credits would pay tuition at LSU for 70,000 students
so we have a welfare system in place that does not promote breeding/crime/drugs.........KEEP IT...


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shawnlsu
LSU Fan
Member since Nov 2011
7118 posts

re: Spending on film tax credits would pay tuition at LSU for 70,000 students
If the state didnt offer the tax breaks, these companies would find another state to film in. They are pumping quite a big chunk of money into the local economies.
Damned if you do, damned if you don't situation


I B Freeman
Member since Oct 2009
7204 posts

re: Spending on film tax credits would pay tuition at LSU for 70,000 students
quote:

So you're saying that the State of La writes a check out of the annual budget to the film companies in excess of what they taking in tax wise from them?

Like this:

Check to Film Company: 1m
Taxes taken in from Film: 500k
State: -500k


No it is much worse there are no taxes taken in from the film.

It is like this:

Company spends $10 million of whatever they wish making a film including actor salaries and the state writes them a check for $3 million (or 85% of $3million).


Lsut81
USA Fan
Member since Jun 2005
65732 posts

re: Spending on film tax credits would pay tuition at LSU for 70,000 students
quote:

They are pumping quite a big chunk of money into the local economies.


Thats what I want to see, since the OP can do nothing buy TYPE IN CAPS to try to get his point across...


I wanna see how much the state pays out vs how much it brings in. If the former is higher than the latter, then its a smart move.



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