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Chris Wysocki
Caldwell, NJ
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She asked for it, right? So let's give it to her.
Repeal the Hollywood tax cuts!
What's that? You haven't heard of the Hollywood Tax Cuts? Yeah, it's funny how Obama never mentions all the sweet tax breaks his Hollywood friends get when he's demonizing "rich people".
So here's Glenn Reynolds to fill you in.
The first such proposal would be to restore the 20 percent excise tax on motion picture theater gross revenues that existed between the end of World War II and its repeal in the mid-1950s. The campaign to end the excise tax had studio executives and movie stars talking like Art Laffer, as they noted that high taxes reduced business income, hurt investment and cost jobs.
The movie excise tax was imposed in response to the high deficits after World War Two. Deficits are high again, and there's already historical precedent. Of course, to keep up with technology, the tax should now apply to DVDs, downloadable movies, pay-per-view and the like. But in these financially perilous times, why should movie stars and studio moguls, with their yachts, swimming pools and private jets, not at least shoulder the burden they carried back in Harry Truman's day -- when, to be honest, movies were better anyway.
For extra fun, they could show pictures of David Geffen's yacht and John Travolta's personal Boeing 707 on the Senate floor. You want to tax fat cats? I gotcher "fat cats" right here! Repeal the Hollywood Tax Cuts!
Finally, some taxes I could get behind! Tax the theaters. Tax the crappy popcorn and decades old boxes of Raisonettes™ too. Tax DVDs. Tax iTunes. Tax YouTube and MTV.
Especially MTV, call it the Jersey Shore Stupidity Tax.
Thanks Eva Longoria, you made my day.
Hey, that looks like a pretty nice pool. Tax it!
Posted at 09:44 by Chris Wysocki
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