Liberal Hollywood actors and actresses love to wax eloquently on the plight of the downtrodden while denouncing capitalism for everyone but themselves. They claim to want to pay higher taxes, while their bank balances increase thanks to the capitalist system they claim to loathe. Kind of like the way Michael Moore is slamming Obamacare. Not because it’s ruining health care for the middle class, but because it isn’t socialist enough. I’m sure he won’t be worried about high deductibles and lack of access to the best doctors when his inevitable health problems strike.
Anyway, Investor’s Business Daily has a great piece on how Hollywood doesn’t hesitate to move production of blockbuster films to tax-friendly places where they can maximize profits, and high tax proponents like Ben Affleck are perfectly fine with that.
Ben Affleck, the very talented actor and director, told the Los Angeles Times last week that the Laffer Curve, which has long animated supply-side thinking, is the economic Polaris of the film industry too.
As he explained to the Times: “You just follow the money. What happens is that you’re faced with a situation of shooting something where you want to shoot, versus shooting somewhere you’d less-rather shoot — and you get an extra three weeks of filming.
“It comes down to the fact that you have X amount of money to make your movie in a business where the margins are really thin.”
Affleck’s comment has long been the refrain of businessmen in other industries in search of tax relief. Margins are razor-thin in a hypercompetitive world, and because they are, taxes make it very expensive for businesses to attain finance.
Entrepreneurs and businesses need investment to pursue their vision, and the prevailing tax rate can surely impact whether or not a business is funded. The same is apparently true of film, if Affleck is to be believed.
Conservatives and libertarians have forever argued that high rates of taxation lead to a great deal of economic waste too. (Read More)
To paraphrase Affleck, it’s “Capitalism for me, but not for thee.” Isn’t that how it always is with smug liberals? They have no problem depositing their own fat checks into their bank accounts, while calling for higher taxes for everyone else. I guess the politics of envy doesn’t apply to them. We the little people are expected to idolize and never question them.
Oh, and Ben Affleck says he doesn’t think he could ever be friends with a Republican. He also denounced money in politics, even though he still does fundraisers for his favorite left wing politicians. What a guy.