Written by Jude Terror
on Friday, August 15 2014 and posted in News with Benefits
The state legislature approved $400 million dollars in annual tax breaks and incentives for movie and TV productions in the state.
Source: The Wrap
Capitalism has always been a system of risks and rewards. Rewards for the "too big to fail" corporations that pay nothing or next to nothing in income tax, hide their money in offshore tax havens, and outsource as many jobs as possible to third world countries with borderline slave labor, and risk for the peasants whose wealth must be constantly sucked upward in a vortex of arcane financial penalties, debt, and taxes so that it can eventually trickle back down to them from the "job creators" because... Ronald Reagan. It's with that in mind that the California State Legislature approved a plan to quadruple the tax breaks given to the film industry to $400 million annually in an attempt to bribe them away from other states offering similar incentives funded by working class taxes. The bill has been backed by Hollywood studios, Hollywood unions, and the mayor of Los Angeles, but opposed by teachers unions, who selfishly suggested that the money might be better spent on education.
"Bwahahahaha," said everyone upon hearing such an absurd suggestion.
To move forward, the bill will need to be passed by the state senate and signed by decrepit governor Jerry Brown, but that's really little more than an afterthought since film industry lobbyists have already paid the politicians for their services. In celebration, the film industry reportedly plans to make more terrible Johnny Depp movies which will remain profitable despite bombing thanks to the subsidies. California's state debt is currently the highest in the country, at almost $800 billion dollars.
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About the Author - Jude Terror
Jude Terror is the Webmaster Supreme of The Outhouse and a sarcastic ace reporter dedicated to delivering irreverent comics and entertainment news to The Outhouse's dozens of loyal readers. Driven by a quest for vengeance, Jude Terror taught himself to program and joined The Outhouse. He instantly began working toward his goal of forcing the internet comics community to take itself less seriously and failing miserably. Ironically, our webmaster, whose website skills know no end, has very little understanding of social networks or how they work. Regardless, you can find him on Twitter, Facebook, and Tumblr, but would probably have the most luck just emailing him.
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