The Senate cut the $246 million in tax breaks for the movie industry recently citing that it was unnecessary. Movie ticket sales, up 19% in January, could have something to do with it. The movie studies share in a portion of the ticket sales with theater owners. However, the industry says it has suffered during the recession like other industries.
If it is suffering, then why are salaries for big stars still at an all time high? The top tier in the movie industry make all the money (directors, owners, stars) and it is the little people who suffer. Considering that these Hollywood elite types all voted for Barack Obama, they should be more than willing to “share the wealth” with their fellow industry employees. The industry might think of buying a term insurance quote if they are so worried about events affecting their production.
The Senate voted 52 to 45 to remove the provision (13 democrats and one independent joined Republicans). I guess, the rest of the Democrats thought that giving money to the movie industry was a good idea.