All eyes are back on the biggest RINO (that's Republican-In-Name-Only) in the country, Arnold "bounce the bi's off the tri's" Schwarzenegger, as California approved inevitable Oscar winners Beverly Hills Chihuahua 2 and Naked Gun 4 for tax credits under "The five-year, $500 million incentive program, signed into law in February, began accepting applications on July 1. In a statement, Schwarzenegger said the tax credits were crucial for retaining film and television productions — and the economic multiplier effects - in California."
Oh Ahnuld. You do not understand that the reason the movie industry is starting to spread out is the same reason every other major industry is leaving: high taxes and regulations. Meanwhile, Texas, arguably the most fiscally conservative state in the nation, is barely feeling a recession and is getting a constant influx of new citizens. Seriously, a U-haul rental from San Francisco to Houston costs nearly three times as much as the same distance and time going the other way. That is the market speaking in spades right there.
So here's an idea: rather than taking away revenue from one of the largest budgets disasters in American history, you should remove the many subsidies for favored industries you've instituted as Governor and lower taxes for ALL industries (and more importantly, people). Hollywood will come back, as there are economies of scale already, but then the market will form new industries in other areas where California has comparative advantage, that you are nowhere near smart enough to realize.
Maybe than you can run a conservative government instead of a Corporatist one. Again, just a thought.
Read more:
http://www.politico.com/news/stories/0709/25556.html#ixzz0MfcGzePb
