Wednesday, January 7, 2009

Broadway Saves Wall Street

What's so funny about an amusement tax?

So the Gov wants to tack on 4% to tickets and Hizzoner wants to tack on another 4%. “Everybody's gettin' inta da act!” For this they did away with term limits?

This is what happens when you gross close to a Billion a year. A victim of our own success.

Why not a luxury tax like baseball has. Figure out what the average ticket price is for each house and then average that across all the legitimate houses. Let's say the hypothetical number is $86.50. Tickets below $86.50 or whatever remain tax-free. Any tickets above that are taxed incrementally until tickets that are priced at twice the average are taxed at 25%. Tickets above twice the average are then taxed at a steeper rate until those people who are buying hot tickets are paying the highest taxes. If you can afford a $450 ticket to a Broadway show then taxes aren't really important to you. If you're a school group buying tickets in the upper balcony, that 8% may be the difference of you seeing your first Broadway show or not.

When pigs fly!

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