Hey, A Lot of Untapped Tax Dollars in Hollywood
I have lost count of the high-price per plate, limo-lib elite, Hollywood celebrity fundraisers Obama has attended in his honor. He was just at one last night. And these members of the pampered class are never shy when insisting the rich are not paying their fair share ... some even going so far as to fake a willingness to pay more themselves. All this because the Hollywood-set believes the little people in the country must have government care at every level, as well as government dictating their lives.
But you gotta love the Glenn Reynolds tax plan:
For the past few years, there has been a drumbeat in favor of increased taxes from Democrats of all stripes. Make the rich pay their "fair share." Get rid of "loopholes." Make the fat cats "chip in a little more." Then Democrats hold up budgets and bills in an effort to extract some tax increases from Republicans.
It's no coincidence that much of the Democrats' base doesn't have to worry about taxes much, either because they work for nonprofits and public entities that don't pay taxes, or because they live off government benefits, or because they work in industries -- like the motion picture and recording industries -- with a long history of shady accounting and favorable tax treatment. Republicans, if they're smart, can nonetheless teach them that tax increases do, in fact, hurt.
They should head into the next budget battle with a list of proposals for tax increases that will sting Democratic constituency groups, but which will seem eminently fair to voters.
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!
If Hollywood lusts so much for socialism/communism they had better start coughing up THEIR money ... big time, and live fully under it with the rest of us.