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Started By
Message
Film Industry changes-IP, Jim, Adam, whomever
Posted on 5/16/17 at 3:38 pm
Posted on 5/16/17 at 3:38 pm
Exactly what does this mean to the average citizen?
It doesn't soun dlike it's curbing the film giveaways.
LINK
It doesn't soun dlike it's curbing the film giveaways.
LINK
quote:
Tipping its hat to the entertainment industry, the House on Ways and Means Committee moved four bills to the full House chamber on Monday that would tweak movie tax credits for the film and music industries.
quote:
House Bill 508, meanwhile, would change the amount of the current processing fee from up to $250 to 2% of the tax credit transfer value. One-quarter of the fund would be appropriated to the Department of Revenue for administrative purposes, while the other three-quarters would be earmarked for the Department of Economic Development for education development initiatives, matching grants for Louisiana filmmakers, a loan guarantee program and a deal closing fund.
4
Posted on 5/16/17 at 3:40 pm to doubleb
Whatever it is im sure its a bad idea
Posted on 5/16/17 at 3:41 pm to doubleb
They're giving the film industry better tax incentives to stay in LA basically.
Posted on 5/16/17 at 5:41 pm to The Mick
Fine, but will it cost the state more or less?
Posted on 5/16/17 at 6:28 pm to doubleb
It allows the annual costs to stay the same while the back log of credits is paid out. It is also restructured to retrieve more tax revenue from the production. I would say less, but the changes are more about stability.
We subsidize industrial refining every year. The film incentives are based on spend. I see the job creating machine everyday. I was skeptical at first, but after getting educated, I now support the program.
We subsidize industrial refining every year. The film incentives are based on spend. I see the job creating machine everyday. I was skeptical at first, but after getting educated, I now support the program.
Posted on 5/16/17 at 7:01 pm to Das_Wanda_kid
quote:
We subsidize industrial refining every year. The film incentives are based on spend. I see the job creating machine everyday. I was skeptical at first, but after getting educated, I now support the program.
Maybe we should cut both out?
Posted on 5/16/17 at 7:27 pm to doubleb
quote:
Maybe we should cut both
That would be ideal but you have to give people a reason to stay in LA other than their families. Over 92% of LA residents are native to the state or moved here as a dependent while under the age of 18. We actually lead the country with this stat.
Business is a whores game. Encentives help the state attract employers to our horrible health care, horrible traffic issues, High unemployment rate, high crime and murder rate, lack of public transportation, low median income. Oh yeah, I forgot to mention that the state has the worst education in the country and the highest sales tax.
Actually, I did not mention several other things, but let's not get carried away. I love my state and I am glad I can stay here and try to improve things.
Keep the incentives if at all possible. They work.
Posted on 5/16/17 at 7:54 pm to Das_Wanda_kid
You just provided a long list problems that point to a failed system.
If incentives worked we wouldn't be at the bottom of almost everything.
Letting the pols dole out favors to their benefactors only helps those receiving all the favors and keeps the same cronies in office. It doesn't create better opportunities across the board, a better education system, a better infrastructure, or a better quality of life. If it did the Billions we forego would be making a difference, but as you stated it is not.
If incentives worked we wouldn't be at the bottom of almost everything.
Letting the pols dole out favors to their benefactors only helps those receiving all the favors and keeps the same cronies in office. It doesn't create better opportunities across the board, a better education system, a better infrastructure, or a better quality of life. If it did the Billions we forego would be making a difference, but as you stated it is not.
Posted on 5/16/17 at 8:08 pm to doubleb
You have to have economic activity to generate tax revenue. You have to have income and own things to pay taxes.
I'm not suggesting we roll around town passing out money, but there must be some type of incentive structure in place. Let's try to name a state that has no incentives in the budget. We can see how well it is working there. I think it will be a short list. (I have never researched this).
ETA: I checked to see who had the most and I believe in 2012 it is Texas. Go Texas! Number 1 employer of LA graduates going out of state.
LINK. (I actually did not even read this)
I'm not suggesting we roll around town passing out money, but there must be some type of incentive structure in place. Let's try to name a state that has no incentives in the budget. We can see how well it is working there. I think it will be a short list. (I have never researched this).
ETA: I checked to see who had the most and I believe in 2012 it is Texas. Go Texas! Number 1 employer of LA graduates going out of state.
LINK. (I actually did not even read this)
This post was edited on 5/16/17 at 8:14 pm
Posted on 5/16/17 at 8:39 pm to Das_Wanda_kid
Does Texas pay 30% of anybody's cost of doing business?
And giving companies a tax break( a discount on the amount of taxes they pay) is not the same as paying 30% of s businesses cost.
Great link. Fwiw, we give more tax breaks per capita than Cal., Fla., NY, Colo., NC and I quit looking.
My quick check has us way up there.
While we may be near the bottom in a lot of stuff we aren't at the bottom in subsidies.
And giving companies a tax break( a discount on the amount of taxes they pay) is not the same as paying 30% of s businesses cost.
Great link. Fwiw, we give more tax breaks per capita than Cal., Fla., NY, Colo., NC and I quit looking.
My quick check has us way up there.
While we may be near the bottom in a lot of stuff we aren't at the bottom in subsidies.
Posted on 5/16/17 at 8:43 pm to doubleb
Paging IBFreeman
Posted on 5/16/17 at 8:48 pm to doubleb
Come on, give me a break. You realize this not an all or none scenario. Even a nearly bankrupt California performs better on all of the above. You never answered the question. I didn't ask per capita. I asked you review and discuss the states that do not have any incentives in the budget.
As I mentioned earlier but will reword. I don't think we should give away the farm, but just like those states you mentioned, we need to have some type of incentives in place. Eliminate the largest (industrial manufacturing subsidies) and the state bankrupts in a couple of months.
As I mentioned earlier but will reword. I don't think we should give away the farm, but just like those states you mentioned, we need to have some type of incentives in place. Eliminate the largest (industrial manufacturing subsidies) and the state bankrupts in a couple of months.
Posted on 5/16/17 at 8:52 pm to doubleb
quote:
While we may be near the bottom in a lot of stuff we aren't at the bottom in subsidies.
I feel like this proves my point. If we didn't suck everywhere else, we could give away less.
Posted on 5/16/17 at 8:53 pm to Das_Wanda_kid
It proved my point, buying business instead of using tax dollars on education, infrastructure, and the quality of life for your prople doesn't work.
Posted on 5/16/17 at 9:02 pm to Das_Wanda_kid
You have to look at per capita and not total amount of the subsidies.
You can't tell me that La. spending 1.79Billion (per your link) while NC spending 660Million, and Colorado 995Million makes sense. It doesn't add up.
You can't tell me that La. spending 1.79Billion (per your link) while NC spending 660Million, and Colorado 995Million makes sense. It doesn't add up.
Posted on 5/16/17 at 9:05 pm to doubleb
You just rattled off a list of states where it is working. Go figure.
You are shooting blanks. You don't have any factual backup. I like that you a passionate about your community and you want to see improvements. I am the same way and we want the same things. Please do a little research and give it a honest review. An open mind is a powerful tool. Let me know what you think.
Thank you!
We should have this on the poli board. I didn't mean to hijack to OT
You are shooting blanks. You don't have any factual backup. I like that you a passionate about your community and you want to see improvements. I am the same way and we want the same things. Please do a little research and give it a honest review. An open mind is a powerful tool. Let me know what you think.
Thank you!
We should have this on the poli board. I didn't mean to hijack to OT
Posted on 5/16/17 at 9:08 pm to doubleb
quote:
You have to look at per capita and not total amount of the subsidies. You can't tell me that La. spending 1.79Billion (per your link) while NC spending 660Million, and Colorado 995Million makes sense. It doesn't add up.
I'm not sure what point you think I am debating.
I agree. We are overspending at a sickening pace. That's why I was glad to see this bill on the table. I hope it passes. Like I said, put an effective program in place.
Posted on 5/16/17 at 9:11 pm to Das_Wanda_kid
You provided the hard facts via your link to the NYT's study indicating that La. subsidies seem to be near the top when you consider the size of our state.
You put forward a list of all the documented failures that La. is noted for.
Is it not logical to surmise that even though we spend more than most to buy business, our strategy isn't working.
Btw, the same link you provided also had a lengthily story on film industry subsidies and how they have failed the various states.
You put forward a list of all the documented failures that La. is noted for.
Is it not logical to surmise that even though we spend more than most to buy business, our strategy isn't working.
Btw, the same link you provided also had a lengthily story on film industry subsidies and how they have failed the various states.
Posted on 5/16/17 at 9:21 pm to doubleb
quote:
You provided the hard facts via your link to the NYT's study indicating that La. subsidies seem to be near the top when you consider the size of our state. [quote]
Yes. We agree here.
[quote]
You put forward a list of all the documented failures that La. is noted for. [quote]
Yes. All true
[quote]
Is it not logical to surmise that even though we spend more than most to buy business, our strategy isn't working. [quote]
Yes. That is why I am praising changes to program
[quote]
Btw, the same link you provided also had a lengthily story on film industry subsidies and how they have failed the various states.
I am aware of those failures. Please see multiple posts on my desire to build an effective program. It creates jobs and economic activity that would not other wise exist. My original concerns were with your desire to end all rebates and subsidies because they do not work. I feel this is wrong, given that all 50 states have them.
Posted on 5/16/17 at 9:22 pm to doubleb
We have this film idustry welfare for these reasons----$$$$ to politicians of both parties through employment of family, fund raising for campaigns, publicity for politicians (i.e. Jindal on Duck Dynasty).
It is a very bad thing for citizens.
Remember as they raise the gas taxes and sales taxes and income taxes, as they fail to repair bridges flooded last August because they will not pay for expedited repairs, as they take trips to see the Pope or go to Cuba on vacation THAT they have put film makers ahead of the citizens.
This is not a tax incentive program---this is an out and out welfare program---pure subsidies.
It is a very bad thing for citizens.
Remember as they raise the gas taxes and sales taxes and income taxes, as they fail to repair bridges flooded last August because they will not pay for expedited repairs, as they take trips to see the Pope or go to Cuba on vacation THAT they have put film makers ahead of the citizens.
This is not a tax incentive program---this is an out and out welfare program---pure subsidies.
This post was edited on 5/16/17 at 9:24 pm
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