"The Talk" seeks $1 million in film welfare for $870,000 in La temporary jobs | Page 3 | TigerDroppings.com

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I B Freeman
Member since Oct 2009
6207 posts

re: "The Talk" seeks $1 million in film welfare for $870,000 in La temporary jobs


quote:

Post Numbers. I did. Why can't you?

quote:
So even Ernst and Young will not claim that the tax credits enhance state revenues.

Link? Id like to research your source.


Read the guy's link. It was an Ernst and Young report and clearly they are saying that it is not important if they pay for themselves.






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BBONDS25
LSU Fan
Member since Mar 2008
16609 posts

re: "The Talk" seeks $1 million in film welfare for $870,000 in La temporary jobs


quote:

Ok so you now admit they do not pay for themselves through state tax collections.


I do not admit that. You have never posted anything that would support it. I simply provided some evidence the credits are good for the state. Please provide your link to the revenue figures. TIA.






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BBONDS25
LSU Fan
Member since Mar 2008
16609 posts

re: "The Talk" seeks $1 million in film welfare for $870,000 in La temporary jobs


quote:

Read the guy's link. It was an Ernst and Young report and clearly they are saying that it is not important if they pay for themselves.


Not important if they pay for themselves and do not pay for themselves are very different. The article never once mentions Louisiana, and there is no link ot the actual study. You post some flimsy "evidence" as your proof.






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I B Freeman
Member since Oct 2009
6207 posts

re: "The Talk" seeks $1 million in film welfare for $870,000 in La temporary jobs


quote:

do not admit that. You have never posted anything that would support it. I simply provided some evidence the credits are good for the state. Please provide your link to the revenue figures. TIA.


READ YOUR OWN LINK. How dense can you be? What are the tax collections on the $5.71--the $1 billion. Can you not make that calculation.

Ignore this simple statement from your link:

quote:

BaxStarr’s 2011 Economic Impact Analysis, the LBP report notes that every $1 of new tax revenues brought in has cost the state $7.30. What the analysis fails to report are the numbers that reflect the annual total economic impact on Louisiana’s economy – data that can also be found on BaxStarr’s Economic Impact Analysis. In 2010, the total economic output surpassed $1.1 billion, which is about $5.71 brought into the state for every $1 tax credit issued by the state.


and just consider the best case scenario that even the film maker's economist acknowledge that $5.71 in "economic activity" comes in for every $1 in tax given away.

Let's assume the income tax rate is 6% and the sales tax is 4% and assume every dollar of that $5.71 is taxable (it is not--probably not even half of it is) and we will have $.0571 in tax revenues for every $1 in tax we give away. That is simple.

Now consider how much "economic activity" it takes to give away that $1. Using the same math--It takes $10 in economic activity to generate the $5.71.

It is simple, simple, simple.



This post was edited on 2/3 at 12:43 pm


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I B Freeman
Member since Oct 2009
6207 posts

re: "The Talk" seeks $1 million in film welfare for $870,000 in La temporary jobs


quote:

Not important if they pay for themselves and do not pay for themselves are very different. The article never once mentions Louisiana, and there is no link ot the actual study. You post some flimsy "evidence" as your proof.


You didn't read it.

It was on the LED website and obviously commissioned by LED.






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BBONDS25
LSU Fan
Member since Mar 2008
16609 posts

re: "The Talk" seeks $1 million in film welfare for $870,000 in La temporary jobs


I read it directly from ey. What better source than them?

And you still haveny provided any numbers as to revenue. Which credits are refundable and how do they affect revenue? Non-refundable credits shouldn't even be in your calculation for revenues if it is a "do they pay for themselves" analysis.






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I B Freeman
Member since Oct 2009
6207 posts

re: "The Talk" seeks $1 million in film welfare for $870,000 in La temporary jobs


quote:

And you still haveny provided any numbers as to revenue. Which credits are refundable and how do they affect revenue? Non-refundable credits shouldn't even be in your calculation for revenues if it is a "do they pay for themselves" analysis.


You don't recognize facts when they slap you in the face. Are you now saying your link is wrong and that the $5.71 is not a fact?

Look there is no educating you on the subject. I give up.

Tell me what you want me to endorse? you want me to start advocating giving them a 50% credit? a 100% credit? If your logic works then I have to believe if we give them more we will even better off. Let's give the political consultants a 50% credit then all of them will come here too. Let's give WalMart 50% of their expenses since they are one of the largest employers--if not the largest private employer in the state--we should all work harder to give them more money. Let's start subsidizing cranberry production in Louisiana at 100%.There are no cranberry jobs here now and they probably won't grow here but they will certainly try to grow them if we pay 100% of their expenses. Why don't we get some chop stick manufacturers to move here--we can pay them 30% of their expenses too.

It is a stupid policy and no real conservative should support it.






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BBONDS25
LSU Fan
Member since Mar 2008
16609 posts

re: "The Talk" seeks $1 million in film welfare for $870,000 in La temporary jobs


"revenue" is a specific term. "Dollars brought to the state" is not revenue. I appreciate you trying to "educate" me, but it would be helpful if you knew relatively simple terms. You are claiming the credits hurt revenue. I asked what percentage of the credits are refundable vs. Non-refundable with the follow up question as to how that plays into your analysis. Have you done the analysis? Do you have access to a study where it was done? If so you certainly haven't shared it. And you continue to put words in my mouth. I have made no assertions. I posted a forbes article. Other than that all I have done is challenge your assertions. You seem to lack basic reasoning skills.
Once we can get you to prove the credits don't "pay for themselves" we can look into the trade-off and what value is there. But baby steps. You need to prove part 1 to even discuss part 2.



This post was edited on 2/3 at 1:42 pm


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I B Freeman
Member since Oct 2009
6207 posts

re: "The Talk" seeks $1 million in film welfare for $870,000 in La temporary jobs


One more thing--I have several friends in the administration that agree 100% with me and tell me they would at least like to get the credits where they are not refundable or transferrable but the New Orleans delegation is the big opponent to any changes.

One thing that is starting to happen is that the Leges are counting the credits toward the total economic development spending and that is taking away from the money needed for such things as the steel mill and the liquified natural gas plant.

The film tax welfare started under KBB and I don't think anyone every believed they would be permanent and they would one day cost a quarter of a billion dollars a year.

FWIW.



This post was edited on 2/3 at 1:43 pm


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charlesmartinmike
LSU Fan
west texas
Member since Mar 2009
233 posts

re: "The Talk" seeks $1 million in film welfare for $870,000 in La temporary jobs


I really don't care if the state sees more money. I have more money.

Oh, and the state got some of it from me.






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I B Freeman
Member since Oct 2009
6207 posts

re: "The Talk" seeks $1 million in film welfare for $870,000 in La temporary jobs


quote:

I really don't care if the state sees more money. I have more money.


Of course nobody in the film business cares if the state sees more money. They got theirs and the rest of us worked to give it to them. They can finance a lot of lobbying and pay to fabricate studies with the welfare they get.






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charlesmartinmike
LSU Fan
west texas
Member since Mar 2009
233 posts

re: "The Talk" seeks $1 million in film welfare for $870,000 in La temporary jobs


Did u pay more in taxes because I got paid to work in the movies?
The answer is no.
I did though.
I'm a film worker from Louisiana who pays taxes.
Why is increasing state revenue so important to u?

What kind of conservative bitches about reduced state revenues?

The state is too big already.
The state has more than enough money. I'm focusing on getting more money into my hands.






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Asgard Device
The Daedalus
Member since Apr 2011
5007 posts

re: "The Talk" seeks $1 million in film welfare for $870,000 in La temporary jobs


quote:

Did u pay more in taxes because I got paid to work in the movies?


Did you pay more state taxes because somebody got welfare? No, but the welfare recipient may have.

quote:

What kind of conservative bitches about reduced state revenues? The state is too big already.


Wait. You think the film subsidies are simply tax exemptions? They are paid for by other tax payers. The argument is whether or not they are net positive.

I don't really give a crap about the film subsidies, but the misunderstanding of what they are seems convenient and intentional.

quote:

The state has more than enough money. I'm focusing on getting more money into my hands.


$1b budget shortfall is looming. Why don't you try to get money into your hands without the government subsidizing 35% or whatever?



This post was edited on 2/3 at 2:54 pm


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slim thug
Member since Apr 2010
8004 posts

re: "The Talk" seeks $1 million in film welfare for $870,000 in La temporary jobs


quote:

The real concern is that it's not the state's place to meddle with the market










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magildachunks
Member since Oct 2006
11533 posts

re: "The Talk" seeks $1 million in film welfare for $870,000 in La temporary jobs


quote:

Most of the jobs the films "create" are temporary--ie The Talk.



No shite. Because you can no longer work on a film when it is complete.

Most of the jobs in the world are temporary based on the availability of projects.

Engineers work a project, and when it is done they hope there is another. Architects, lawyers, scientists, etc.

Just because you may work on one project for three months, and then have to find another, does not mean that there is no employment.

Take the tax credits away and you lose that workforce who have moved here and then you lose their taxes that they have paid into the system whether it be from sales tax, income tax, property tax, etc.

And trust me, there has a been a big influx of film crew workers who have moved here from the ridiculously over priced Los Angeles.






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Tigah in the ATL
LSU Fan
Atlanta
Member since Feb 2005
25237 posts

re: "The Talk" seeks $1 million in film welfare for $870,000 in La temporary jobs


What doesn't he get, that it's good for the government to choose which industries it props up?

Because no way that gets skewed, is there?






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flyby
Member since Aug 2011
47 posts

re: "The Talk" seeks $1 million in film welfare for $870,000 in La temporary jobs


The percentages are the only evidence needed to easily deduce that this is a bad deal for every taxpayer who isn't involved in the industry.





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