Congratulations fellow North Carolinians, you are about to forfeit an untold amount of tax revenue to the millionaires at Warner Brothers – again – while the state faces a budget deficit upwards of $3 billion. Governor Perdue (D) announced in a press release last week that New Line Cinema, a subsidiary of Warner Brothers, will film a multi-million dollar motion picture in our state and will enjoy a 25% tax credit on qualifying expenses.
This summer, the General Assembly voted to expand the film production tax credit from 15% to 25%. The bill, HB1973, was a wish list of economic incentives (read: unfair tax treatment) sponsored by Reps. Bill Owens (D-Pasquotank), Pryor Gibson (D-Anson), William Wainwright (D-Craven), and Harold Brubaker (R-Randolph). Interestingly, the bill also created a tax exemption for wood chippers.
Warner Brothers also produces “One Tree Hill,” a television series, in North Carolina. The cost of credits to the state over the three tax years from 2007-2009 for One Tree Hill totaled $12 million. As a note, the total cost of credits to the state for those three years was just short of $36 million. Several of these films are rated R and one especially egregious film, with a cost of credits totaling $713,104, is titled “A Good Old Fashioned Orgy.” Meanwhile, North Carolinians have suffered sales tax hikes, higher fees, and income tax surcharges. The General Assembly raised taxes by $1.1 billion in 2009.
Further, businesses in other industries which have operated in North Carolina for years are subject to the full tax burden while Warner Brothers enjoys preferential tax treatment. Governor Perdue seems to think that “North Carolina was selected because of the state’s talented and trained film professionals and the water tank at EUE/Screen Gems.” Those of us in reality know that the state used our tax dollars to bribe Warner Brothers.
Proponents of the film production credits will argue that the preferential tax treatment the multimillionaires in California enjoy at our expense will boost the economy. However, these tax credits come at a cost as the loss in revenue must be offset by taxes on other goods and services paid by local businesses and individuals or by cuts to services such as education. What North Carolina needs to stimulate economic growth is an equitable, and much less onerous, tax structure. How can our political leaders claim to be for the “little man” when Average Joe is taxed to make up for the tax breaks enjoyed by wealthy Californians? Whose side are you on, Governor Perdue?
http://www.civitasreview.com/budget-taxes/preferential-tax-treatment-in-nc-for-california-millionaires/
Showing posts with label William Wainwright. Show all posts
Showing posts with label William Wainwright. Show all posts
Tuesday, October 26, 2010
MARK GRIFFIN "I believe in small efficient, effective state government"
Wainwright, Griffin: Cut spending, create jobs
Sun Journal New Bern, 10/25/10
Sue Book
Sun Journal Staff
The 2010 N.C. House District 12 race gives voters in the district shared by Craven and Lenoir counties another chance at a clear-cut choice.
Rep. William Wainwright, D-Craven, of Havelock and Republican challenger Mark Griffin of Dover let voters choose again between a veteran politician and a newcomer trying again to unseat him with different stances on a long list of issues.
One thing Wainwright and Griffin do agree on for the next General Assembly is that, facing an estimated $3.6 billion shortfall as unemployment in the state mirrors the national average 9.6 percent, cutting state government spending and creating jobs for the unemployed are top priorities.
Asked how they would address those priorities, both said government service cuts would be part of their solution.
“I can describe myself in one sentence,” Griffin said. “I believe in small efficient, effective state government that takes care of mandated areas of construction and doesn’t overreach. Private citizens and business can do most things better than government.”
Wainwright said, “I think over the last several years we have focused on trying to make government more efficient. We have looked at our state budget to eliminate duplication. But it’s a tough process and the economic downturn has caused us to take a deeper look to eliminate any and all duplication.”
Griffin said he would also cut incentives and subsidies for businesses including those for places like the Global TransPark. “I’m not against the GTP existing. I’m against state government subsidizing it and continuing to pour money into it.”
Wainwright said he considers his work toward luring industry to the GTP among his accomplishments. He pledged in 2008 to make dealing with the economy a priority. (ARE YOU KIDDING ME?)
“People want us to find ways to create employment opportunities for them,” he said. “They want to see us reduce the size of government. But they want us to preserve and protect our education system.”
“To do this without too much job loss we will be looking at it as people retire, those positions will not have to be filled,” he said. “Where we are forced to make reductions, we’ll have to make the hard choices. Nothing is exempt.”
Griffin said, “We’ll have to look at areas where we can combine administrative work – many areas of DOT could use the same administrators.”
He sees other cost cuts or revenue generators in eliminating state funding for nonprofits and privatizing the ABC system, selling the real estate to private business he says can operate competitively and more efficiently.
Wainwright anticipates restructuring the tax system as part of the way the state has enough money to operate and vows “to do it in a transparent manner.”
And he served on the 21st Century Transportation Commission that has suggested some toll roads as one way to pay for highway infrastructure. “As long as you give people option that if they don’t want to travel a toll road they have an alternative route I would not oppose it,” he said.
Griffin said he is against toll roads. The state’s gas tax and funding through the Highway Trust, if not raided for other uses, should pay for the roads, he said.
Griffin said his political philosophy supports positions that are for pro-life, limited government, lower taxes and ending wasteful spending, educational choice, immigration law enforcement, protecting laws for traditional marriage, supporting the military, protecting the Second Amendment right to bear arms, and moving the country toward energy independence.
Both candidates favor allowing drilling off the coast.
Wainwright has significantly more campaign contributions than Griffin. Asked if he is beholden to any special interests because of them, he said, “Absolutely not. I think my contributions have come because of my dedication, commitment, effective voice, hard work in the legislative process and my desire to do the right thing.”
Sue Book can be reached at 252-635-5665 or sbook@freedomenc.com.
Sun Journal New Bern, 10/25/10
Sue Book
Sun Journal Staff
The 2010 N.C. House District 12 race gives voters in the district shared by Craven and Lenoir counties another chance at a clear-cut choice.
Rep. William Wainwright, D-Craven, of Havelock and Republican challenger Mark Griffin of Dover let voters choose again between a veteran politician and a newcomer trying again to unseat him with different stances on a long list of issues.
One thing Wainwright and Griffin do agree on for the next General Assembly is that, facing an estimated $3.6 billion shortfall as unemployment in the state mirrors the national average 9.6 percent, cutting state government spending and creating jobs for the unemployed are top priorities.
Asked how they would address those priorities, both said government service cuts would be part of their solution.
“I can describe myself in one sentence,” Griffin said. “I believe in small efficient, effective state government that takes care of mandated areas of construction and doesn’t overreach. Private citizens and business can do most things better than government.”
Wainwright said, “I think over the last several years we have focused on trying to make government more efficient. We have looked at our state budget to eliminate duplication. But it’s a tough process and the economic downturn has caused us to take a deeper look to eliminate any and all duplication.”
Griffin said he would also cut incentives and subsidies for businesses including those for places like the Global TransPark. “I’m not against the GTP existing. I’m against state government subsidizing it and continuing to pour money into it.”
Wainwright said he considers his work toward luring industry to the GTP among his accomplishments. He pledged in 2008 to make dealing with the economy a priority. (ARE YOU KIDDING ME?)
“People want us to find ways to create employment opportunities for them,” he said. “They want to see us reduce the size of government. But they want us to preserve and protect our education system.”
“To do this without too much job loss we will be looking at it as people retire, those positions will not have to be filled,” he said. “Where we are forced to make reductions, we’ll have to make the hard choices. Nothing is exempt.”
Griffin said, “We’ll have to look at areas where we can combine administrative work – many areas of DOT could use the same administrators.”
He sees other cost cuts or revenue generators in eliminating state funding for nonprofits and privatizing the ABC system, selling the real estate to private business he says can operate competitively and more efficiently.
Wainwright anticipates restructuring the tax system as part of the way the state has enough money to operate and vows “to do it in a transparent manner.”
And he served on the 21st Century Transportation Commission that has suggested some toll roads as one way to pay for highway infrastructure. “As long as you give people option that if they don’t want to travel a toll road they have an alternative route I would not oppose it,” he said.
Griffin said he is against toll roads. The state’s gas tax and funding through the Highway Trust, if not raided for other uses, should pay for the roads, he said.
Griffin said his political philosophy supports positions that are for pro-life, limited government, lower taxes and ending wasteful spending, educational choice, immigration law enforcement, protecting laws for traditional marriage, supporting the military, protecting the Second Amendment right to bear arms, and moving the country toward energy independence.
Both candidates favor allowing drilling off the coast.
Wainwright has significantly more campaign contributions than Griffin. Asked if he is beholden to any special interests because of them, he said, “Absolutely not. I think my contributions have come because of my dedication, commitment, effective voice, hard work in the legislative process and my desire to do the right thing.”
Sue Book can be reached at 252-635-5665 or sbook@freedomenc.com.
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