I like to take but not to give, it's the Christian in me.
Louisiana's shining star Governor Bobby Jindal has a problem. His policies and sagging oil prices have sunk his state. This is a problem because
state school insolvency is not a good marker of job performance:
Louisiana State University scrapped a $114.5 million municipal-bond deal amid investor concern that its plans to address cuts in state funding may include filing for exigency.
Officials at the Baton Rouge-based school said they’re considering financial exigency, which is equivalent to college bankruptcy, because of budget cuts proposed by Governor Bobby Jindal. When the university sold the tax-exempt debt this week, the offering documents circulated to investors didn’t explicitly mention that possibility.
Even with his terrible ideas for cuts to education and social services, Jindal still can't balance his budget.
Louisiana Governor Bobby Jindal, a potential Republican presidential candidate, is trying to close a $1.6 billion budget hole without touching as much as $415,000 per episode in tax breaks that may be due to “Duck Dynasty.” [...]
“You’re talking about between $200 million and $250 million a year that goes out the door to TV and film producers to come here and shoot their pictures, in a state where money is scarce,” said Jan Moller, director of the Louisiana Budget Project, which advocates policies that benefit low- and moderate-income people. “It’s irresponsible to let this part of the budget continue running amok at a time when they’re talking about closing college campuses.”
The argument people like Bobby Jindal make is that these companies bring business to town. They stay in hotels, they buy stuff, they hire locals:
Film-production companies set up as limited liability companies don’t owe corporate taxes in Louisiana. Most therefore sell their credits to someone that does. They are also allowed to sell them back to the state for 85 cents on the dollar.
That means all of that "business" you're drumming up is worth 15 cents on the dollar.
Duck Dynasty is a show that
has to take place in Louisiana. But I guess 15 percent is better than nothing, right?
A Hollywood producer, his ex-wife and a lawyer were found guilty in New Orleans federal court on April 27 for a scheme to falsify expenses to increase tax credits. A Baton Rouge producer was charged in March, and two others pleaded guilty in 2013 on similar charges.
Bribery charges imprisoned the former film-office director and the film executive and lawyer who payed him off. Dozens of New Orleans Saints players and coaches were sold almost $2 million in fake credits.
This is what happens when you your
entire intellectual position* on government and society is based on a philosophy of
no new taxes.
* Governor Bobby Jindal has the additional intellectual position of being a racist homophobe.