aGameOfThrones
02-27-2014, 01:34 AM
In another example of the government picking winners and losers, the House Ways and Means Committee, in its long-awaited tax reform bill, singles out violent video game makers for tax increases.
On page 19 of the executive summary, the committee mentions an improved and permanent research and development tax credit, which has benefitted countless industries from manufacturers to software creators to food producers.
The summary advocates for “an improved, permanent R&D tax credit, finally giving American manufacturers the certainty they need to compete against their foreign competition who have long had permanent R&D incentives."
Well, unless they make violent video games.
Despite the promise of an improved R&D tax credit, the bill – on page 24 – removes that tax credit from the violent video game industry, under a section about closing loopholes.
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One of the plan's provisions: “Preventing makers of violent video games from qualifying for the R&D tax credit."
This is funny, given the fact that on the very next page the summary says the bill “stops the practice of using the tax code to pick winners and losers based on political power rather than economic merit.”
How is letting every industry except the violent video game industry keep the R&D tax credit not picking winners and losers?
http://washingtonexaminer.com/gop-tax-plan-singles-out-violent-video-game-makers/article/2544733
On page 19 of the executive summary, the committee mentions an improved and permanent research and development tax credit, which has benefitted countless industries from manufacturers to software creators to food producers.
The summary advocates for “an improved, permanent R&D tax credit, finally giving American manufacturers the certainty they need to compete against their foreign competition who have long had permanent R&D incentives."
Well, unless they make violent video games.
Despite the promise of an improved R&D tax credit, the bill – on page 24 – removes that tax credit from the violent video game industry, under a section about closing loopholes.
Sign Up for the Politics Today newsletter!
One of the plan's provisions: “Preventing makers of violent video games from qualifying for the R&D tax credit."
This is funny, given the fact that on the very next page the summary says the bill “stops the practice of using the tax code to pick winners and losers based on political power rather than economic merit.”
How is letting every industry except the violent video game industry keep the R&D tax credit not picking winners and losers?
http://washingtonexaminer.com/gop-tax-plan-singles-out-violent-video-game-makers/article/2544733