Washington Times - A new study by Actors Equity shows working actors, entertainers and production crew may have to self-incorporate to avoid skyrocketing taxes under the new Republican plan, according to a story in The Hollywood Reporter Thursday.
The increase comes from the elimination of the deductions for union dues, agent commissions, classes and travel for those in the middle class, but keeps some of these provisions for “top-earning talent” due to a difference in how they file.
Those in the upper-earnings often form what is called a loan-out corporation, with the actor as an employee. Loan-out corporations will not see a change under the Republican plan.
But those who cannot afford the expense of self-incorporating — requiring attorneys and expensive paperwork to meet government requirements — say they depend on deductions to keep their taxes affordable.
1 comment:
As the west goes third world it will destroy the middle class. All traces of a first world tax base and first world consumer base will dissapear and at the same crushing debt will kick in.
The western republics will go toward harsh third world conditions when they can't borrow money anymore. First world propped up by borrowing, elites transfering as much wealth as possible before collapse via the whore republic.
War against terrorism will go insane, also divide and rule operations. Crazy actions by elites and governments will be the rule, civilazation will fade.
The states and small nations will drive hard for seperation.
Small republics are not much better than large, third world chaos will continue. Communists or fascists or whatever ist, single political party ran republic dicatorships is the repeating history.
Only a new balance of political economy may bring the world out of the next dark age.
Anyone still remember the west won the cold war?
As the world goes to hell the intellectuals will act surprised, they are worthless.
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