The Washington Post yesterday posted an editorial opposing the repeal of the Affordable Care Act’s medical device tax, on the grounds that it would constitute “caving in to special interests.”
That view of the...
This week's Economist magazine reviews a proposal in California to boost their film and television tax credit. The report notes that it's getting tougher to compete with Louisiana's 30 percent refundable credit or New York's $420 million annual budget to subsidize film and TV, and that independent analyses find these do little on net for job creation or economic growth.
One of their sources is yours truly:
The other answer is that handouts for moguls are not as popular as they once were. Several states have capped or scrapped their programmes; Joseph Henchman at the Tax Foundation, a think-tank, reckons they peaked in 2010. Michigan’s scheme, which some thought—absurdly—could make up for job losses in the car industry, was scaled back under a Republican governor. Despite hosting “Iron Man 3”, one of last year’s smashes, many in North Carolina want to let their state’s scheme wither. “At some point you accept that Louisiana is determined to pour its treasure into Hollywood’s pockets,” says Mr Henchman, “and you let them do it.”
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That view of the...
This post originally appeared as a Forbes op-ed here.
Ohio tax policy needs a lot of work, and Governor John Kasich talks about it a lot. The state ranks 44th in the Tax Foundation’s State Business Tax Climate...