Written by Doug Powers
“I’d like to thank the Academy, my fellow actors/directors/producers, my family, and mostly the taxpayers who helped finance the film for making this all possible” – No Academy Award winner ever
There are two things that many in Hollywood often preach against: 1) “Greedy” Wall Streeters who don’t “share the wealth” during the good times and then leave taxpayers holding the bag when things go bad; And 2) Tax breaks for the rich.
File this under “method acting”:
Although Oscar nominations were announced yesterday, one winner has already been determined: the Oscar for Best Tax Break (not a real Academy Award). Among the nine films nominated for Best Picture, The Wolf of Wall Street received the largest state tax incentive, a 30 percent tax credit from New York State. In effect, New York State taxpayers paid for a third of its $100 million in production costs.
According to Forbes, Hollywood’s moguls are receiving around $1.5 billion a year in film tax credits. Rich Tinseltown libs then use some of the money they saved to maintain the soap box from which they complain that the rich need to be made to “pay their fair share.”
**Written by Doug Powers
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