Dinner with Clooney

On January 1st the President went before the country to make a speech about the federal budget deal that had just been reached. He began by saying,

“The central premise of my campaign for President was to change the tax code that was too skewed towards the wealthy at the expense of working, middle class Americans. Tonight, we’ve done that.”

If that’s true, then why did this budget agreement extend Section 181 of the tax code for another year? Section 181 provides up to $20 million in tax deductions per production for the movie and film industry. Why do film production companies owned by filthy rich guys like George Clooney, Stephen Spielberg and Oliver Stone get this kind of preferential treatment? Those three guys combined have a net worth of about $3.2 billion. Last year, George Clooney hosted a fundraiser for President Obama and his re-election campaign. A plate at the table cost a paltry $40,000! Gulp! Good move George, that kind of schmoozing really pays off!

But wait, I was talking about the President’s speech – later in the speech President Obama said,

“Cutting spending has to go hand in hand with further reforms to our tax code so that the wealthiest corporations and individuals can’t take advantage of loopholes and deductions that aren’t available to most Americans.”

Wow! As usual the President sounds like he really means business. I sincerely hope he will follow through and use his bully pulpit to end those obscenely profitable corporate loopholes. I especially hope he singles out the fat cats in Hollywood who should be paying, as the President says, “more of their fair share” in order to fund our cash-strapped government. Maybe he’ll appoint tough guy Joe Biden as Chairman of the Commission to End Corporate Welfare.

This President once ran on hope, so in the spirit of bipartisanship, I will give the President the benefit of the doubt and hold on to some hope regarding this issue. But, based on the fact that Mr. Spielberg has contributed about $800,000 over the years to the Democrat party and the likelihood that celebrities like George Clooney will be holding lavish fundraisers for liberal politicians in the future, I don’t think it would be wise for me to hold my breath for very long.

But I do love the President’s speeches. They are always good for a cynical laugh.

Brutus

HOLLYWOOD’S FILTHY RICH NEED TO PONY UP

Hollywood Sign by OreosSince we are having a national conversation on the subject of taxing rich people, I think I need to point out that some people in Hollywood and the entertainment industry have far more money than they really need. Don’t you agree? For example, according to celebritynetworth.com Sean Penn is worth about $120 million, Samuel L. Jackson has assets worth a comfortable $150 million, Alec Baldwin, who was paid an obscene $150,000 per episode of 30 Rock is worth about $65 million and Steven Spielberg who averages about $150 million a year is worth a cool $3 billion. Madonna, who is an outspoken supporter of President Obama and his policies is worth about $650 million.

While liberals often lament the fact that money corrupts politics, Mr. Spielberg has contributed about $800,000 over his lifetime to the Democrat party. It is well known that most people in Hollywood support Liberal Democrats and their big government non-solutions to every problem. Well, Big Government requires big money, and since the Federal Debt is over $16 trillion and climbing with yearly revenue shortfalls of over $1 trillion, it is only fair that Hollywood’s proponents of big government chip in more of their own wealth to pay for it.

I am going to throw my support to any member of Congress or any presidential candidate in the future who has a tax plan to strip half the net worth of any Liberal connected with the entertainment industry who is worth say, $10 million or more. I think Madonna will be able to adjust to living on $325 million quite easily and if not why should we care as long as it prolongs the day when this Federal Monster come crashing down.

I would rather that these filthy-rich, liberal celebrities chip in their fair share voluntarily, but I suspect they will need the coercive force of the Federal Bullies (which they use to impose their favorite policies on the rest of us) to persuade them. Oh, and while we are at it, all 50 states should agree to a pact that says they will stop giving tax breaks to Hollywood. Why would the good liberals in the movie industry want to deprive the cash-strapped states of all that tax revenue in the first place? Surely, they will thank me for pushing this idea. Don’t you think? It’s time for those greedy 1% ers in Hollywood to pony up.

Brutus