Review & Outlook: Crony Capitalist Blowout - WSJ.com
But a special award goes to Chris Dodd, the former Senator who now roams Gucci Gulch lobbying for Hollywood's movie studios.
The Senate summary of his tax victory is worth quoting in full: "The bill extends for two years, through 2013, the provision that allows film and television producers to expense the first $15 million of production costs incurred in the United States ($20 million if the costs are incurred in economically depressed areas in the United States)."
You gotta love that "depressed areas" bit.
The impoverished impresarios of Brentwood get an extra writeoff if they take their film crews into, say, deepest Flatbush.
Is that because they have to pay extra to the caterers from Dean & DeLuca to make the trip?
It sure can't be because they hire the jobless locals for the production crew.
Those are union jobs, mate, and don't you forget it.
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