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re: WSJ major opinion piece on film industry welfare--quotes Jindal
Posted on 6/21/14 at 3:52 pm to I B Freeman
Posted on 6/21/14 at 3:52 pm to I B Freeman
You don't have a clue, I. B. that's clearer than your analysis for damn sure. 
1
Posted on 6/21/14 at 3:54 pm to OTIS2
quote:
You don't have a clue, I. B. that's clearer than your analysis for damn sure
Strong argument there Otis2.
I have been making this stuff up for years and now the Wall Street Journal is making it up. Give me a break.
Put your head back in the sand--you just want accept the facts.
Posted on 6/21/14 at 3:57 pm to I B Freeman
Unlike you, I've bought the credits before...I saved dollars (revenue for me and my business) by doing so, and put it back into my business, back into the economy. I didn't have to piss it away by sending it to Baton Rouge.
Are you too stupid to understand how a tax reduction benefits business? Really?
Yep. I think you must be.
Are you too stupid to understand how a tax reduction benefits business? Really?
Yep. I think you must be.
This post was edited on 6/21/14 at 4:00 pm
Posted on 6/21/14 at 3:58 pm to I B Freeman
quote:This where you lose me. The state is not actually giving them money. The film industry is not paying taxes on goods and services. Is that correct?
Comes off the top. It is not even a line item.
Posted on 6/21/14 at 4:00 pm to OTIS2
quote:
Unlike you, I've bought the credits before...I saved dollars (revenue for me and my business) by doing so, and Iut it back into my business, back into the economy. I didn't have to piss it away by sending it to Baton Rouge.
Are you too stupid to understand how a tax reduction benefits business? Really?
Yep. I think you must be.
So it is your contention we should give filmmakers 30-35% of their expenses so you can save 5 or 10% of your obligations to the state?
Unbelievable.
I tell you what why don't we just give every business in Lousiana 30-35% of their expenses? What do you think would happen then Otis2?
Can you tell us that? It is pretty friggin simple.
Posted on 6/21/14 at 4:02 pm to I B Freeman
How many credits, specifically, were used last year? How many, specifically by those in the film industry? How many, specifically used by those who bought them? How much in checks did the state write? What are the actual numbers? Tia.
This post was edited on 6/21/14 at 4:06 pm
Posted on 6/21/14 at 4:06 pm to La Place Mike
quote:
This where you lose me. The state is not actually giving them money. The film industry is not paying taxes on goods and services. Is that correct?
Those credit are coming off the revenue line of the state budget. They are not in the expenses as other expenditures are.
Yes the state is giving them money. How many times do I have to explain that???
Here is a simple example.
If you got credits like the film makers we would give you a tax credit for 30% of your food and electricity bill. Let's say that is $10000 this year. You would get $3000 in credits. Now let's say you have no taxable income as most of the film companies do not. You could then say to LED give me 85% of the credits in cash and they are obligated to give you $2550. You also have option to sell those credits to me at whatever I will pay you. I might pay you 95% so instead of me sending money to the state I send $2850 to you and send the credit to the state for my tax obligation.
This post was edited on 6/21/14 at 4:09 pm
Posted on 6/21/14 at 4:12 pm to I B Freeman
quote:How are they giving them this money? Is it in the form of cash, check or EBT card?
Yes the state is giving them money.
Posted on 6/21/14 at 4:13 pm to BBONDS25
quote:
How many credits, specifically, were used last year? How many, specifically by those in the film industry? How many, specifically used by those who bought them? How much in checks did the state write? What are the actual numbers? Tia
Why does it matter that I quote every friggin number?
Do you disagree with what me and the WSJ are saying? If so why?
Posted on 6/21/14 at 4:14 pm to La Place Mike
quote:
How are they giving them this money? Is it in the form of cash, check or EBT card?
Does it matter to you?
Posted on 6/21/14 at 4:18 pm to I B Freeman
quote:Yes.
Does it matter to you?
Posted on 6/21/14 at 4:30 pm to LSURussian
quote:
If we all just said we agreed with you, would you stop making these threads???
Posted on 6/21/14 at 4:33 pm to I B Freeman
quote:
Do you disagree with what me and the WSJ are saying? If so why?
Now now.....let's not get ahead of ourselves.
You frequently parrot a lot of things that the WSJ article didn't say.
It doesn't go much further than to say the program exists, and a lot of credits are then liquidated to the rich.
Let's not pretend that the WSJ is standing shoulder to shoulder in your crusade.
Posted on 6/21/14 at 4:34 pm to I B Freeman
How is a tax credit "spending"?
Posted on 6/21/14 at 4:38 pm to Volvagia
quote:
Let's not pretend that the WSJ is standing shoulder to shoulder in your crusade.
The title of the piece was "Hollywood Teaches Wall Street a Lesson in Corporate Welfare". Secodary title "Media companies rake in about $1.4 billion yearly from state tax credits and rebates".
That is just the simple truth and you guys keep demanding more and more information as if I am a liar.
Posted on 6/21/14 at 4:39 pm to theunknownknight
:waitingwithbaitedbreath:Posted on 6/21/14 at 4:44 pm to theunknownknight
quote:
WSJ major opinion piece on film industry welfare--quotes Jindal
How is a tax credit "spending"?
Everybody else ignore this post as I step back and explain one more time how this is welfare spending.
Louisana gives filmmakers 30-35% of their expenses--not their income--including wages, food, equipment rentals, expense accounts. ect (including the huge salaries of actors and actresses from out of state).
We give it to them in the form of cash redeemable or fully transferrable tax credits. They do not have to generate a single dollar in Louisiana income tax to use these credits and most do not.
They can sell these credits back to the state for cash at 85 cents on the dollar or they can sell them to any Louisiana taxpayer who then gives the money he would normally give the state to the filmmakers. Basically the filmmaker becomes the collector of taxes levied on us all by the state.
This post was edited on 6/21/14 at 4:46 pm
Posted on 6/21/14 at 4:46 pm to I B Freeman
So how is that spending?
Posted on 6/21/14 at 4:47 pm to OTIS2
quote:
:waitingwithbaitedbreath:
Yes Otis2 I am waiting on you to explain why all Louisiana businesses should not get 30% of their expenses paid by the state.
Posted on 6/21/14 at 4:49 pm to theunknownknight
quote:
So how is that spending?
What do you call writing checks for 85% of $250 million? (that is what the state is committed to do if the holder does not sell all his credits to somebody else)
You want me to just start calling it check writing?
This post was edited on 6/21/14 at 4:50 pm
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