I’d like to be fully disclosed: At one time I ponied up $40k for a friend who was in NYC, down in the dumps, and wanted to be the next Stephen Speilberg. I tasked this liberal friend into working for the money: A script, a movie, and give me 5 copies on DVDs with art work so if it bombs, I can always send it to netflix where it will be rated one of the worst horror films of all times. That was the limit of my friendship and it seemed to help energize this fuzzy head dreamer into making me a movie.
So, imagine my surprise when I read the following from the WSJ as to what was contained in the stimulus bill that was passed by the democrats in the House of Representatives:
National Journal reported this week that the Senate’s economic stimulus bill includes a provision that would make Hollywood studios eligible for a special 50% write-off of equipment purchases. According to the report, “the provision is backed by firms like the Walt Disney Co., and the industry trade group the Motion Picture Association of America.”
The House version of the stimulus already includes a bonus depreciation that lets businesses immediately write off 50% of their 2009 capital expenditures. But the Senate bill expands the definition of “qualifying property” — specifically to include “certain motion picture film or videotape.” Hollywood moguls like Steven Spielberg, David Geffen and George Lucas were among the biggest backers of President Obama’s candidacy, and it looks as though Democrats have found a way to return the favor.
So let’s see: Democrats object to cutting the U.S. 35% corporate tax rate — which is higher than in all of Europe, undermines economic growth and discourages job creation — for all companies on grounds that it favors the rich and powerful. But Democrats will carve out tax loopholes for businesses they like and that write them campaign checks.”
For an industry that turned out in droves to support Obama, from the constant making movies throughout the Iraq War that were anti-American in nature, to the Jimmy Stewart of today – Tom Hanks, giving $50,000 for 1 of the many Obama inauguration parties, and making Big Love – an inside fictional look at Mormonism – for HBO – for BIG MONEY.
Looks like Hanks et al have got their golden tickets to the Willy Wanka Chocolate Factory of printed money……but surprise surprise surprise, it seems a pleeb like me – the equivalent of the little boy who actually is worthy of getting into the factory – may get something for my efforts in getting a lazy dreamer who can’t deal with reality to actually make something of absolutely no worth (I’ve seen the movie that I was ‘executive producer’ on).
Seems I was doing stimulus as a republican trickle down theorist when they were out of vogue and now are being set to be labeled as enemies of the state.
They’ll probably make me eat the purple candy and then the oompa – loompah’s will be pressing me for even more cash for others that have big dreams, big houses in Malibu, and give big money to Democrats, only to have that money handed back to them in the form of stimulus.
Can you say pay for play?