Louisiana should take a cue from its successful film tax credit program andTargeted tax incentives can go wrong in two important ways. First, when competing jurisdictions start offering the same incentives, your own tax incentives suddenly lose their effectiveness. (And you can make a case that this is exactly what's happened with Louisiana's film incentives.) Second, each tiny little incentive erodes the state's tax base a tiny little bit. The more tax incentives you offer, the more the base erodes. And each bit of base erosion effectively shifts the cost of funding public services onto everyone else-- that is, except for the artists and filmmakers and "individuals in the food industry." In short, tax incentives are a zero-sum game, and the more you work to create winners, the more you are inevitably creating losers.
target other areas that could boost the state’s cultural economy, Lt. Gov. Mitch
Landrieu said Monday.
The film tax credit program is an example of “a targeted tax policy” that is working to improve the cultural and economic climate in Louisiana, Landrieu told the Press Club of Baton Rouge. The film industry success is why Landrieu said his agency is pushing tax credits in other areas, such as, for artists, individuals in the food industry and historic preservation.
If Landrieu has his way, and Louisiana's film incentives turn out to be the vanguard of more comprehensive effort to provide tax breaks for everyone with an artistic bone in their bodies, the less-artistic among us will suddenly find that our Louisiana taxes are higher than they used to be-- and they'll have Landrieu's tax incentives to thank.
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That has to be one of the most shortsighted and ridiculous pseudo-logical arguements I've ever heard. Why would anyone in their right mind be against investing in Louisiana's cultural heritage?
By offering incentives to artists and the like, the simple economic concept is that you can see short and long term financial as well as quality of life gains for everyone.
When a citizen chooses to devote their lives to improving their artistic talents, it can be a long and difficult financial journey. However, with just a little bit of support from the state, the payoffs could be enormous. We offer educational assistance programs to make life a little easier on struggling students, the exact same logic must be applied to young artist and filmmakers, who, in this burgeoning cultural environment, could easily become financial windfalls for poor communities.
Short term gains may be realized from increased tourism into both small and large cities, depends on the artist and filmmakers' locations.
Anyone who's had even the most basic college business course can spot a long term investment when they see and hear one.
For heavens sake, can you not understand that Landrieu's efforts will increase opportunities for struggling artists of all genres and ultimately bring in more tourist dollars, promote Louisianas cultural heritage, and increase quality of life for all citizens?
An investment in the struggling artist and independent film groups around the state could result in an expoential growth in rural Louisiana communities in the arts. From festivals to arts houses and theaters, all Louisianians could benefit.
Just stunned by your shortsightedness. I hope you approach future comments and issues from a less biased perspective and more from a 'What's in La. best interest' one.
Seriously, I have to wonder if your comments are simply from a political bias or something.
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