POLIWOOD ON AN UNHEARD OF EVENT: How Did An Anti-Obama Documentary Break Box Office Records?

REPEAL THE HOLLYWOOD TAX CUTS — STATE EDITION: Do Hollywood tax credits really help the economy? Capitol’s number crunchers wonder if proposed $200 million in subsidies could be used better elsewhere.

As Gov. Jerry Brown mulls whether to sign into law another round of subsidies for Hollywood production companies, the question that confronts him is how much each job on a movie set is worth to taxpayers.

In Massachusetts, lawmakers recently discovered a similar program was much more expensive than they thought. After years of subsidizing film productions without looking too closely at how that was helping the economy, state officials put it under a lens and found that taxpayers were spending as much as $300,000 to bankroll each position.

Other states that went in for a close-up after dispensing hundreds of millions of dollars in tax breaks found that every public dollar put into the film industry was generating a few dimes, or less, in revenue. . . .

“The state is using money it then can’t use for other things, like education, transportation and healthcare, which also create jobs and economic growth,” said Nicholas Johnson, vice president for state fiscal activity at the Center for Budget Policy and Priorities, a liberal think tank in Washington, D.C. “There is no accounting for what else the state could be doing with those dollars to provide economic growth.” . . . The Tax Foundation, a conservative think tank in Washington, noted in a review in April that the majority of studies not bankrolled by industry-affiliated groups or local authorities eager to attract productions have found the credit’s performance lackluster.

Government studies in Arizona, Connecticut, Massachusetts, Michigan, New Mexico and Pennsylvania concluded that every dollar invested in the tax credit was returning less than 30 cents in revenue, the foundation noted.

Indeed. And, of course, there’s the federal issue. Plus the need to crack down on shady “Hollywood Accounting.” But suddenly I’m not the only one pushing that, either:

Their analysis raised the question of whether Hollywood firms that already enjoy numerous tax advantages should get another break and took aim at some of the “opaque” accounting maneuvers used by the studios.

“Forrest Gump,” one of the industry’s highest grossing productions, showed no profit on the books, the analysis noted.

“Perhaps the highest level of creativity in Hollywood,” it said, “is the creative accounting.”

Well, Eva Longoria wanted to pay more taxes. Her whole industry just may get the chance to fulfill her dream.

STANLEY KURTZ TO REPUBLICANS: Don’t Get Cocky.

RATIONING: In Top Journal, Obamacare Boosters Push ‘Global Spending Target.’

Free-market economists have long known that “controls breed controls.” In health care, leading Obamacare supporters are now proposing unprecedented new government controls over all medical spending — private as well as public — to “solve” problems caused by prior controls. Welcome to ObamaCare 2.0.

In a recent article in the New England Journal of Medicine (NEJM), several prominent Obamacare supporters have called for a binding “global spending target for both public and private payers.” In regular English, this means a government-enforced cap on how much Americans may spend in aggregate on their health care, both public and private. The co-authors of this article include former Obama administration officials Dr. Ezekiel Emanuel (former White House health care advisor and brother of Rahm Emanuel, former White House chief of staff), Dr. Donald Berwick (former head of Medicare), and Peter Orszag (former budget director).

The authors argue that current Obamacare cost controls do not go far enough. Although Obamacare will reduce government-sector health spending (e.g., Medicare and Medicaid), insurers and medical providers will simply shift those costs onto the private sector. To properly control health care costs (they claim), the government must therefore also control private health spending.

I think we need global controls on busybodies. Enforced with tar, feathers, and other coercive elements.

JOEL GEHRKE: To judge from his schedule, Obama has given up on North Carolina.

President Obama, aside from his appearance at the Democratic National Convention, has not campaigned in North Carolina since April of this year. . . . Vice President Joe Biden talked about winning North Carolina during a recent campaign stop. “With you, we can win North Carolina again, and if we do, we win the election!” Biden told his audience, in Virginia.

Heh.

MICKEY KAUS: The Obama Walk Of Shame.

A friend once told me that a certain Mr. X must be good in bed, because women were always saying “I can’t go on seeing you. It’s just not working. So let’s spend one more night–and then that’s it!” This is kind of how I feel about Obama’s acceptance speech. It was empty, but empty in a good way. We weren’t crazy to be inspired by this guy. In the cold light of morning, however, …. some complications.

Read the whole thing.

THE ENTIRE DEMOCRATIC PARTY IS AN INSTANTIATION OF GODWIN’S LAW: Ohio Dem accuses Jewish Republican of being “candidate of the big lie.”

CAMPAIGNING AS HE’S GOVERNED: Democrats Said to End Convention $15 Million Short. “Democrats ended their convention in Charlotte $5 million short of their budget even after being forced to draw down a $10 million line of credit from Duke Energy Corp. (DUK), according to a Democratic Party fundraiser. That will leave a $15 million bill that eventually will have to be paid by President Barack Obama’s campaign or the Democratic National Committee, according to the fundraiser, who spoke on condition of anonymity to discuss internal deliberations.”

UPDATE: Reader Marc Johnson writes: “I wonder how in the Obama administration is in with the green energy companies? The DNC got their loan to cover the convention from Duke Energy. They are a major player in wind and solar. How shocking! I’m sure the ‘investments’ we have made in wind and solar have benefited Duke Energy. Cronyism?”

ANOTHER UPDATE: Reader Roland Mar writes: “Slight correction to the story. Duke Energy did not pay $10 million of the shortfall. You and I did. In 2011 alone, Jim Rogers and Duke Energy received at least $224 million in Federal taxpayer subsidies for ‘green energy projects.’ ‘Green energy’ meaning that the money is gone into Democrat donor pockets. This is just payoff to the Democrats. The $10 million loan is not to start being repaid until 2013. If Obama wins, the Federal government will cover it with another subsidy. If he loses, it will be forgiven.” Here’s more on Duke Energy and green payola.

HOW POLITICIANS PUSH PROFESSORS LEFTWARD: It’s like it’s just one big taxpayer-funded political operation or something.

HIGHER EDUCATION BUBBLE UPDATE: Grandparents as Source of College Funds.

“It seems to be a change from earlier generations where we all graduated from college and pretty much felt we were on our own,” said Sandra Timmermann, a gerontologist and the director of the MetLife Mature Market Institute. Timmermann noted that whereas people used to be concerned about leaving money for their children and grandchildren in their wills, there is now more of a tendency for that money to be given earlier.

Hmm.

MESSAGING: Biden Calls For Free Market In Health Care. “At least for women. He didn’t address health care for men.”

OBAMA’S NEW SLOGAN: The Daily Show’s Larry-David-Narrated Barack Obama Retrospective, ‘It Could Have Been Worse.’

AT AMAZON, the new Kindle Fire HD. Looks like a big step up from the Kindle Fire. With 4G Internet. There’s also a wi-fi only model for considerably cheaper. The 4G’s service is cheap, though: 250 MB a month for 12 months for a one-time payment of $49.99.

Also, the new e-ink Kindles now have higher-resolution displays, and a backlight.

UPDATE: Reader Charles Epperson emails: “I do not want to nit pick but I thought I should mention to you that the new Kindle is Frontlit not backlit. Frontlighting the e-ink does not tire the eyes like backlight and in this case is very power efficient.”

JIM TREACHER: Michael Stipe not a fan of ironic subtext. “What are the odds that Michael Stipe actually knows whether or not it was unlicensed and unauthorized? Every time* an artist mewls about a song being used by evil wingnuts, it turns out that the song was licensed. Stipe can whine about it all he wants, and Fox can comply or not, but it’s all just for show. Everybody hurts sometimes. Especially when their own songs are used to mock their beloved idols. But hey, it’s not the end of the world as we know it!”

FAST AND FURIOUS UPDATE: Suspect Arrested in Brian Terry Murder.

ASKING THE IMPORTANT QUESTIONS: Which President Would Win in a Hunger Games-Style Brawl?

LIFE IN RAHM EMANUEL’S GUN-CONTROLLED PARADISE: After second family member killed, parents consider moving back to Africa where it’s safer. “Police have not made arrests in either of the Kebbeh brothers’ murders.” Well, 50 of ’em were at the DNC this week. Not likely to run across the culprit there.

SHOCKER: Study: Acupuncture Not As Safe As Advertised. “The first ever study of the adverse effects of acupuncture in state-funded acupuncture clinics in the UK has found that the procedure is largely safe, but not as safe as advertised. In extreme cases, it could even put lives at risk. Despite this, claims that acupuncture is completely safe could soon lead to the procedure being funded by Medicare, the US government-funded medical benefits programme. Acupuncture is already government-funded in much of Europe.” Well, it may or may not work, and it may be dangerous, but it is cheap.

AT AMAZON, Coupons Galore in Health & Personal Care.

Also in Grocery & Gourmet Food.

HMM: Are Chinese Banks Hiding “The Mother of All Debt Bombs?”

THAT SEEMS LIKE A LOT IN THIS ECONOMY: Warhol silkscreen of Brando may snag $20 million: Christie’s. On the other hand, it may hold its value better than dollars or Euros.

TOURING THE BRAIN is like touring an ancient city.

TECHNOLOGY: Smart carpet detects falls and strange footsteps.

A team at the University of Manchester in the UK has developed a carpet that can detect when someone has fallen over or when unfamiliar feet walk across it.

Optical fibres in the carpet’s underlay create a 2D pressure map that distorts when stepped on. Sensors around the carpet’s edges then relay signals to a computer which is used to analyse the footstep patterns. When a change is detected – such as a sudden stumble and fall – an alarm can be set to sound.

By monitoring footsteps over time, the system can also learn people’s walking patterns and watch out for subtle changes, such as a gradual favouring of one leg over the other. It could then be used to predict the onset of mobility problems in the elderly, for example.

The carpet could also be used as an intruder alert, says team member Patricia Scully. “In theory, we could identify footsteps of individuals and the shoes they are wearing,” she says.

Eventually, most everything will be at least this smart.

AT AMAZON, up to 45% off on the top 100 bestsellers.

Also, today only: Arrested Development: The Complete Series, $26.99.

TATTOOS WOULD HAVE BEEN MORE PERMANENT: Mum shaves numbers into quads’ heads. “The mother of identical quadruplet boys shaved numbers into her sons’ hair to help teachers and classmates tell them apart. Mum Tan Chaoyun, of Shenzen in China’s Guangdong Province, shaved the six-year-olds’ heads with the numbers one to four. She took the drastic step before they started elementary school because she was worried the boys would get mixed up.”