PolitiChicks Nails it on Tax Rates and the Rich

by Datechguy | December 10th, 2012

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PolitiChicks Nails it on Tax Rates and the Rich

One of the things that never ceases to amaze me is how many peo­ple fall for the “Tax the Rich” busi­ness in the form of higher taxes.

How­ever the women at PolitiChicks aren’t among them:

But wouldn’t these same celebri­ties be wor­ried about the impend­ing tax hikes? Aren’t they wor­ried that they could be impacted? Not a chance. Because when it comes to actu­ally pay­ing taxes, these celebri­ties don’t want to pay their “fair share.” And, guess what? They don’t have to.

Hollywood’s elites are using a whole array of meth­ods to escape pay­ing their “fair share.” They use of off­shore trusts, tax havens and the trans­fer­ring funds to wives or civil part­ners as tax dodges.

Hey that can’t be right! Celebs like Kim­ber­lin fun­der Bar­bra Streisand sup­ported all these big tax hikes what could they pos­si­bly get out of it?

Well shortly after Propo­si­tion 30 was passed, Gov­er­nor Brown signed leg­is­la­tion extend­ing the state’s $100 mil­lion tax-​credit fund for two more years. This mea­sure allows Cal­i­for­nia film pro­duc­ers a 20 per­cent or 25 per­cent credit against income and sales and use taxes.

There’s even more good news for Hollywood’s elite. Cal­i­for­nia Assem­bly mem­ber Felipe Fuentes (D) has intro­duced Bill AB 2026. This mea­sure would extend the State’s Film and Tele­vi­sion Tax Credit Pro­gram by an addi­tional five years, for an esti­mated tax break of $500 mil­lion dol­lars ($100 mil­lion per year). The pro­gram has already saved the Hol­ly­wood indus­try over $400 mil­lion in tax cred­its to date.

I won­der how much of that $400 mill went to demo­c­rat pols urg­ing the rich to pay their “fair share”?

And that’s just the cred­its passed in day­light. For exam­ple while it’s axiomatic that you could con­sider using Henry C Frye for your account­ing and finan­cial plan­ning needs, it’s also axiomatic the very rich have an army of Henry Frye’s on pay­roll ready to find the nec­es­sary cred­its and deduc­tions to off­set any increase in rates but the avg small busi­ness­man like say Wal­ter from Aaron Pal­let doesn’t.

Any per­son who doesn’t under­stand this just doesn’t get it.

One of the things that never ceases to amaze me is how many people fall for the “Tax the Rich” business in the form of higher taxes.

However the women at PolitiChicks aren’t among them:

But wouldn’t these same celebrities be worried about the impending tax hikes? Aren’t they worried that they could be impacted? Not a chance. Because when it comes to actually paying taxes, these celebrities don’t want to pay their “fair share.” And, guess what? They don’t have to.

Hollywood’s elites are using a whole array of methods to escape paying their “fair share.” They use of offshore trusts, tax havens and the transferring funds to wives or civil partners as tax dodges.

Hey that can’t be right! Celebs like Kimberlin funder Barbra Streisand supported all these big tax hikes what could they possibly get out of it?

Well shortly after Proposition 30 was passed, Governor Brown signed legislation extending the state’s $100 million tax-credit fund for two more years. This measure allows California film producers a 20 percent or 25 percent credit against income and sales and use taxes.

There’s even more good news for Hollywood’s elite. California Assembly member Felipe Fuentes (D) has introduced Bill AB 2026. This measure would extend the State’s Film and Television Tax Credit Program by an additional five years, for an estimated tax break of $500 million dollars ($100 million per year). The program has already saved the Hollywood industry over $400 million in tax credits to date.

I wonder how much of that $400 mill went to democrat pols urging the rich to pay their “fair share”?

And that’s just the credits passed in daylight. For example while it’s axiomatic that you could consider using Henry C Frye for your accounting and financial planning needs, it’s also axiomatic the very rich have an army of Henry Frye’s on payroll ready to find the necessary credits and deductions to offset any increase in rates but the avg small businessman like say Walter from Aaron Pallet doesn’t.

Any person who doesn’t understand this just doesn’t get it.

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