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Message
Another victory for movie tax credits
Posted on 12/26/14 at 9:49 am
Posted on 12/26/14 at 9:49 am
La. named "Movie Capital of the World" (pun style spelling is mine)
What retard doesn't understand simple math as such: I have 0, someone gives me 10, I give them back 3.5 = I gained 7.5.
ETA: Nola.com spelled it that way too! Didn't notice at first they are as witty as me!
Also: the CBS link ----> LINK
What retard doesn't understand simple math as such: I have 0, someone gives me 10, I give them back 3.5 = I gained 7.5.
ETA: Nola.com spelled it that way too! Didn't notice at first they are as witty as me!
Also: the CBS link ----> LINK
This post was edited on 12/26/14 at 9:51 am
6
Posted on 12/26/14 at 9:54 am to Meauxjeaux
quote:
What retard doesn't understand simple math as such: I have 0, someone gives me 10, I give them back 3.5 = I gained 7.5.
Chalk me up as a person that does not understand your math. I thought 10 - 3.5 = 6.5, not 7.5.
This post was edited on 12/26/14 at 9:55 am
Posted on 12/26/14 at 9:56 am to buckeye_vol
MeauxJeaux is giving Bama math a try. 
Posted on 12/26/14 at 9:56 am to buckeye_vol
quote:OP was too focused on puns.
Chalk me up as a person that does not understand your math. I thought 10 - 3.5 = 6.5, not 7.5.
Posted on 12/26/14 at 9:56 am to buckeye_vol
quote:
What retard doesn't understand simple math as such: I have 0, someone gives me 10, I give them back 3.5 = I gained 7.5. Chalk me up as a person that does not understand your math. I thought 10 - 3.5 = 6.5, not 7.5.
Plus that is not how these movie credits work, but don't let math or the facts get in your way
Posted on 12/26/14 at 10:07 am to Meauxjeaux
quote:
What retard doesn't understand simple math as such: I have 0, someone gives me 10, I give them back 3.5 = I gained 7.5.
our tax credits don't work that way exactly
Posted on 12/26/14 at 10:07 am to Meauxjeaux
quote:
What retard doesn't understand simple math
quote:
someone gives me 10, I give them back 3.5 = I gained 7.5.
Posted on 12/26/14 at 10:16 am to Meauxjeaux
putting out the I B bait I see
Posted on 12/26/14 at 10:56 am to PsychTiger
quote:
MeauxJeaux is giving Bama math a try.
Edited: I'm taking the Common Core approach and calling my example valid.
This post was edited on 12/26/14 at 11:03 am
Posted on 12/26/14 at 11:01 am to SlowFlowPro
quote:
our tax credits don't work that way exactly
But, they really do.
I know it's not a direct "this much taxes raised from the movie = that much credit given back to the movie producers".
It's a broader economic model.
The same economic impact models that say having a Super Bowl in Nola = this much economic gain applied to the tax credits would show a positive economic gain to the State.
But if the opponents want to use kindergarden math concepts, like my (Common Core adjustment applied) correct example above, then they can preach to the low info populace all day long about how bad it is.
Posted on 12/26/14 at 11:15 am to Meauxjeaux
So you support movie and TV welfare. Good for you.
I don't.
I don't.
Posted on 12/26/14 at 11:16 am to Meauxjeaux
quote:
But, they really do.
I know it's not a direct "this much taxes raised from the movie = that much credit given back to the movie producers".
pretty sure our state will buy back the credits at a rate (85%?), which means our state is exporting public funds to private businesses
plus the credits are transferrable, so in the example of a single movie, we can claim 0-loss, but the state loses money elsewhere when those credits are sold to a company who owes taxes but now doesn't have to pay any. and this transfer isn't going to move money to a louisiana company
i'm not saying the credits don't lead to a net positive, but you're mis-stating the "math"
Posted on 12/26/14 at 11:29 am to Meauxjeaux
quote:LINK
The same economic impact models that say having a Super Bowl in Nola = this much economic gain applied to the tax credits would show a positive economic gain to the State.
quote:
After accounting for the dynamic effects on the economy of the additional film and video production activity, the State may expect to recoup 16% to 18% of the tax revenue it obligates to the program through the transferable tax credit mechanism. The estimates generated by dynamic analysis tend to be generous, and a number of aspects of this particular analysis work to overestimate the likely true impact of the program. Thus, the estimates presented here should be considered maximums.
Posted on 12/26/14 at 12:13 pm to Iosh
Holy Mother of Nine Year Old Projections!
Someone less lazy than me should take that last page, layer the data over the estimates and see how things turned out.
Someone less lazy than me should take that last page, layer the data over the estimates and see how things turned out.
Posted on 12/26/14 at 12:37 pm to ragincajun03
quote:
So you support movie and TV welfare. Good for you. I don't.
Calling it welfare is quite misleading
Posted on 12/26/14 at 12:46 pm to Meauxjeaux
quote:What data? Do businesses poll their customers to see if they're part of an out-of-state film crew, segregate that income in their recordkeeping, and report those divisions to the government?
Someone less lazy than me should take that last page, layer the data over the estimates and see how things turned out.
This post was edited on 12/26/14 at 12:46 pm
Posted on 12/26/14 at 12:48 pm to Meauxjeaux
quote:
Someone less lazy than me should take that last page, layer the data over the estimates and see how things turned out.
I would, but I'm just as lazy if not more so.
Posted on 12/26/14 at 12:49 pm to Choctaw
You know Iosh is only in favor of welfare which goes to people who don't work.
Posted on 12/26/14 at 1:07 pm to Iosh
quote:
What data? Do businesses poll their customers to see if they're part of an out-of-state film crew, segregate that income in their recordkeeping, and report those divisions to the government?
So you are answering my OP with a link to something that you are now saying doesn't exist?
Posted on 12/26/14 at 1:18 pm to Meauxjeaux
quote:
quote:
our tax credits don't work that way exactly
But, they really do.
No, they really dont.
The state tax rate is what, 4.5%? These tax credits (subsidies) are for 35% of expenses and payroll spent instate. Not taxes. And in turn, the state will purchase the credits from the movie studios at .95/$1.00. So if the movie spends $1,000,000.00 in LA and the studio sells all the credits back to the state, the state collected $45,000 in taxes from the production and paid them $332,500 for the tax credits resulting in a net $287,500 loss.
Last year, the state paid out a quarter of a billion to Hollywood. This year its expected to be higher. So the question is this: Is the return on investment of between $250-500 million dollars worth the cost to the LA taxpayers? My answer is no. The program needs to be revised and capped.
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