Are Film Industry Tax Credits Helping Or Hurting Louisiana – Wingin’ It Wednesday
On this week's edition of "Wingin' It Wednesday", panelist Mike Stagg, Carol Ross, and Warren Caudle joined "Mornings with Ken and Bernie" to discuss Congressman Cassidy's recent legislation as well as the film industry tax credits in Louisiana.
Here's what the panel had to say:
1. Congressman Bill Cassidy has filed legislation that would require the President and his Cabinet to use new health insurance exchanges featured in the Affordable Care Act. Cassidy says if the President and Cabinet members have to be subjected to the same laws as everyday Americans they will realize Obama Care is not such a good idea. Your thoughts on Cassidy’s legislation.
Mike Stagg started us off:
I think it shows that people in the 6th district can forget about any kind of representation in congress now that Cassidy is running for Senate. The whole hysteria right wing fog machine about what Obamacare is or isn't is just ridiculous. It's unfortunate that Congressman Cassidy has resorted to this, but he's running for Senate now and everything he does should be viewed in that light.
Warren Caudle added:
Whether Obamacare is good bad or indifferent, congress aught to be made to abide by all the rules that everybody else does. It seems like the members of congress always want to change the rules that apply to everyone else. They pass all this stuff but say, "this won't apply to us, we do what we want to do.
Carol Ross concluded:
I guess we can take the words of Jeremiah Wright to heart in this case, Obamacare's chickens are coming home to lay a great big egg.
It's unbelievable that they go behind closed doors and do these types of things and thing they'll get away with it. Whatever law congress passes they should have to abide themselves, but look at what's happening. I think for Congressman Cassidy it's a no brainer to put this forward. It's going to be a big issue in his coming campaign against Marry Landrieu.
2. A new audit says Louisiana shelled out $800 million over the last five years in tax breaks for the movie industry. Do you think the tax incentive should be continued?
I do believe that we need to take a serious look at all this kinda stuff. Government should not be in the business of picking winners and losers, and that's exactly what we're doing with these exemptions and tax breaks for different industries. I do believe that there's certain times when these do work, with one time starts or bumps, but these things once they start they never end.
The federal reserve did a paper a few years ago that said big sports teams end up being a net loss for the communities they're in, and that's kinda how it is with so many of these special exemptions.
All of these exemptions should be looked at with a cost/benefit analysis. They're all sold as the greatest thing since sliced bread, who knows who's really getting the money for these deals. Shreveport has a booming film industry and New Orleans is doing well, but it's not something that's really spread across the state, Lafayette has some move business here.
We don't have a fiscal crisis if we stop giving away this money in exemptions.
I think to a degree we all agree, there should be a cost/benefit analysis on every dollar spent. At some point the law of diminishing returns should apply, because we have gotten some good attention, we have gotten some return, but we've got to look at every dollar spent.
I'd want to see us invest more in our technology.
Now it’s your turn to tell us what you think about today’s Wingin’ It Wednesday topics. Who got it right, who got it wrong, and who was way off? Let us know in the comment section.