Creative accounting: now Hollywood wants bail-out money

by editor on February 7, 2009 more creative you are in Hollywood, the more money you make. Especially if your specialty is accounting.

Hollywood has now lined-up with tin cups in hand, begging for an infusion of tax dollars. One provision of the “stimulus” bill would have given new film projects an immediate 50% write-off.

Republicans, lead by Senator Tom Coburn (R-OK), shamed Democrats into stripping $246 million in movie industry tax breaks from the bloated bill.

They contend Hollywood doesn’t need they money. “They had their best January ever,” Coburn said.

If one were cynical, one might assume the tax breaks were designed as a payback for the campaign dollars Hollywood showered on Obama.

To see how the Hollywood bail-out would have been structured, Democrats watched the attached instructional video.

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