Spending on film tax credits would pay tuition at LSU for 70,000 students | Page 2 | TigerDroppings.com

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Mickey Goldmill
LSU Fan
Baton Rouge
Member since Mar 2010
5703 posts

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


I'd rather money being pumped into the actual economy over saving it for the state budget.





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Lsut81
USA Fan
Member since Jun 2005
64950 posts

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


quote:

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).



Ok, and what does the company/actors/vendors pay in taxes to the state??? If it is greater than 3 million, then its a good investment.






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ItNeverRains
LSU Fan
Franklin, TN
Member since Oct 2007
6580 posts

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


I guess my question is after everything involved with making a movie in LA, is the state in the green, black, or red because of the movie being made in LA.

Depending on the color, i am for it or against it, but I won't cherry pick from entire project to justify my position.



This post was edited on 4/27 at 9:36 am


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shawnlsu
LSU Fan
Member since Nov 2011
6390 posts

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


quote:

It is out and out WELFARE.


They are producing revenue and providing jobs. Your definition of welfare is warped. Welfare is what the government pays to deginerates for sitting on their colllective asses or money for nothing






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Lsut81
USA Fan
Member since Jun 2005
64950 posts

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


quote:

I guess my question is after everything involved with making a movie in LA, is the state in the black or red because of the movie being made in LA.



Motherfricking +1


That is what I am trying to get an answer to






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I B Freeman
Member since Oct 2009
5669 posts
 Online 

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


quote:

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


So what.

Consider this. Even the film tax lobbyist only claim this crazy program only employs 10,000 people. (a number that is suspect at best. I believe they are counting every extra that got a check for a day's work in that number not full time people.)

We could give these 10,000 $25,000 a piece to move to one of the fewer and fewer states that have fallen for this tax credit crap and be ahead. Way ahead considering we are willing to do it year after year.






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GetBackToWork
LSU Fan
Member since Dec 2007
1064 posts

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


The state does not taken in anywhere near what it pays out on this.

The state squashed much of the infrastructure credit that would eventually build in the industry. It has, foolishly, clung only to the transitory side of filming - not post production, editing, or other elements requiring permanent staff and facilities.

It is funny to see such ignorance displayed by some who are so "wise" to taxes and government. This program had nothing to do with reciprocal tax revenue. It simply subsidizes film production through the usage of tax credits. There is no linkage to credits and taxes paid. The linkage is to approved spending meeting certain criteria - not the tax revenue the underlying activity generates. Agree with the program or not, please understand it before mouthing off.






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I B Freeman
Member since Oct 2009
5669 posts
 Online 

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


quote:

Ok, and what does the company/actors/vendors pay in taxes to the state??? If it is greater than 3 million, then its a good investment.


Essentially none. We would not be writting them checks and seeing them sell the credits if they had tax obligations.

This is not hard to understand. We are being screwed and it is not a line item in the budget.

One place we really see it is in corporate tax collections. 5 years ago they were over $500 million. Last year they were hardly $200 million. They people that owe corporate tax are the biggest customers of the film tax credit brokers that exist.

Get the picture--if not for the film tax credits in 2012 we would have had a budget SURPLUS instead of a mid year deficit.






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udtiger
LSU Fan
Louisiana
Member since Nov 2006
25536 posts

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


50 percent would wash out/never graduate.

Of the remaining 50 percent, 30 percent of those would graduate with a useless degree.

Of those remaining, fully 50 percent would leave the state.

So, it sounds like a colossal waste of $ to me.






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shawnlsu
LSU Fan
Member since Nov 2011
6390 posts

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


Y'all are acting like the film makers are collecting checks from the state and not spending a dime inside the state. There are other local businesses that support the industry. I'd be willing to bet that the money spent in state far outweighs the tax breaks thus boosting the overall economy





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Mickey Goldmill
LSU Fan
Baton Rouge
Member since Mar 2010
5703 posts

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


LINK

This study from 2008-2010 said the return on investment is $5.71 for every state dollar spent.






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I B Freeman
Member since Oct 2009
5669 posts
 Online 

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


quote:

They are producing revenue and providing jobs. Your definition of welfare is warped. Welfare is what the government pays to deginerates for sitting on their colllective asses or money for nothing


BS.

What do you call paying for somebody's food? their electricity? their salary? WELFARE. That is what we doing with this film tax credit welfare. All of those things the film people get 30% minimum from you and me. Their are food stamps recipients out there that are not getting 30% of their meals paid for. At least the food stamp guys has to prove he needs the welfare.






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shawnlsu
LSU Fan
Member since Nov 2011
6390 posts

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


quote:

At least the food stamp guys has to prove he needs the welfare.




One produces revenue and provides jobs, the other does neither. I'll let you decide which is which



This post was edited on 4/27 at 9:47 am


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La Place Mike
LSU Fan
West Florida Republic
Member since Jan 2004
16444 posts

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


quote:

Not agreeing with the Tax breaks that the industry gets, but a tax break =/= Spending
The OP will never get this. Sad, really.






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Lsut81
USA Fan
Member since Jun 2005
64950 posts

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


quote:

This study from 2008-2010 said the return on investment is $5.71 for every state dollar spent.









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I B Freeman
Member since Oct 2009
5669 posts
 Online 

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


quote:

Y'all are acting like the film makers are collecting checks from the state and not spending a dime inside the state. There are other local businesses that support the industry. I'd be willing to bet that the money spent in state far outweighs the tax breaks thus boosting the overall economy


The money spent in the state is not state tax revenue.

I am spending money in the state and I assume you are too but the state is not giving me 30% of my expenses.

IT IS A BOONDOGGLE that most ignorant taxpayers think is just like traditional economic development programs. IT IS NOT. It is an out and out subsidy with no limit. No income requirement. No jobs number requirement. AND IS TRANSFERRABLE meaning a person hold one would be a FOOL to recognize any income in Louisiana when he could turn the credit into cash.

They are the media. It is understandable how you people are confused but what I am telling you is true.

I am not advocating giving 71000 people tuition. I merely used that example to explain how HUGE the annual spending on this film tax welfare is.






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LSUMJ
LSU Fan
BR
Member since Sep 2004
14829 posts

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


good god you are as bad as Toddy and gay marriage\

you couldnt be more wrong on this, and its been shown to you 1000 different times







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La Place Mike
LSU Fan
West Florida Republic
Member since Jan 2004
16444 posts

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


quote:

I B Freeman

So where would all this tax revenue that we are missing out on come from if the movie industry was not filming here? I can assure you of one thing. If we weren't giving them tax credits the film industry in Louisiana would dry up and blow away.






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I B Freeman
Member since Oct 2009
5669 posts
 Online 

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


quote:

This study from 2008-2010 said the return on investment is $5.71 for every state dollar spent.


That is not what that industry produced report says. It says they spend in the state $5.71 or generate it through multipliers for every dollar in subsidy. It is like saying a food stamp receipient spends $10 on whatever for every $1 in food stamps they get. Using that logic we should encourage every food stamp receipant to move to Louisiana.

The simple minded look at that and think the taxpayers are actually getting back $5.71 in tax revenue for every $1 they give them. That is far far far from the truth.

Here is a non industry report you should read

LINK



This post was edited on 4/27 at 9:59 am


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TrueTiger
LSU Fan
Chicken's most valuable
Member since Sep 2004
10664 posts
 Online 

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


quote:

I am spending money in the state and I assume you are too but the state is not giving me 30% of my expenses.



OK now you swerving into something where I think we may have common ground.

If you mean that the state is picking winners and losers and suggesting that this is a form of crony capitalism then frickin' A, yes I see this.






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