Film Flam

Here we go again...

I guess Tom Barrett feels he can't allow Scott Walker to have all the stupid to himself. As the Journal Sentinel notes, "Both gubernatorial candidates support film tax credits."

Yes, a big economic development - jobs - strategy for both candidates is luring the film industry.

These two think "creating jobs in new media and film [is] a priority" and are "central to our prospects for a brighter economic future."

I've previously posted, "The Wisconsin Department of Commerce issued a report showing that film tax credits as an economic development strategy are not cost-effective." The Journal Sentinel found the state reimbursed Public Enemies every dollar spent here.

Economists have shown deficit spending during economic downturns works, food stamps are stimulative, as are infrastructure investments and aid to state and local governments. Social scientists have also shown that film credits as some sort of economic development policy do not work. Yet, for some reason, we condemn the former as wasteful and unnecessary, while bellowing about the need to increase the latter.

Film credits as an economic development strategy shouldn't even be part of the discussion deciding our next governor.

For Further Reading:
Economic Incentives
Economics Incentives Package Heavy On Film Subsidies
Film Credits Won't Transform Illinois Economy
Film Tax Credits Are Bad Economics
Food Stamps And Unemployment Insurance
More States Yell "Cut" On Film Tax Credits
On The Chopping Block
Voodoo Economics Of The Silver Screen