Seems the talk show "The Talk" has been broadcasting from New Orleans leading up to the Super Bowl. According to an article this morning in the Times Picayune they qualify for $1 million in film industry welfare and they supposedly employed 140 Louisiana workers for 29 days and spent $2.4 million total.
Of course those people are now out of work and of course the show would have probably broadcast from here without the welfare but none the less taxpayers are going to give them welfare.
Let's just take a conservative look at these numbers. Let's assume the 140 people will actually pay taxes--they may not if this is all they work since on an average they got only about $5900 for this work. Let's assume the other $1.53 million was all sales taxable and generated a whopping 50% profit for the vendors and is thus income taxable. The total tax take for the state would be $52000 in taxes on the wages, $61000 in sales taxes, and $45,900 from the income tax on the liberal profits we assume.
That is a total revenue from taxes of $158,900 or a total loss for Louisiana taxpayers of $841,000.
Sort of hard to comprehend that a corporate subsidy this rich would generate 5-6 times more indirect tax revenue than direct isn't it? "The Talk" will take down their temporary stages this weekend and will go back to New York with our money.
No way possible this welfare is good for Louisiana tax payers. We would have been better off to take the $1 million and just give it to the 149 temporary workers. At least it would have stayed here and they would have made $130,000 more.
This post was edited on 2/3 at 10:41 am