I recently sent a link to my congress critter asking him to help Hollywood pay their fair share by reinstating the entertainment tax. It would be a great going away present from the lame duck congress. I would love to see the Senate have to vote against a tax increase. I am sure a few co-sponsors would add a nice touch. Ask your congress critters today.
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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.
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Link:
http://washingtonexaminer.com/sunday-reflection-repeal-the-hollywood-tax-cuts/article/2503964
