Dear Readers: The Political Editor of the San Diego News Network gave me the heads-up on this news. It seems that capitalism is not dead in this state. To save the jobs associated with 50 Hollywood/Los Angeles based productions, Governor Schwarzenegger signed a bill giving these operations tax credits. Full details are HERE; a synopsis is below:
Well, Schwarzenegger heavily campaigned for the passage of California’s Film and Television Incentive Program, succeeded and signed it into law in February. The program gives qualified productions a tax credit and in turn, jobs are made available in the state.
According to Schwarzenegger’s office, 50 productions have been approved for the program with 36 scheduled to shoot this quarter. Among the 50 approved projects, 25 are for independent feature films, 22 percent are for non-independent features, eight percent are for DVD films, 14 percent are for movies of the week and six percent are for TV series.
This begs the question:
Why the glitterati, who normally embrace the distribute-your-wealth-government-centered programs, GET tax breaks denied by average Californians?
Our political representatives may want to try another mantra, derived from historical successes instead of Obama economic theory:
It also seems the Governator Schwarzenegger will join a cast of all-star ‘80s action heroes (including my favorite, Bruce Willis), in the new movie “The Expendables.”