Brad Pitt Film Costs Louisiana Taxpayers $27 Million

The New York Times is reporting that the state of Louisiana is on the hook for over $27 million for a Brad Pitt film. Taxpayers are finding themselves bailing out cash for more than just greedy Wall Street traders. The Times reports that these programs are intended to multiply local film production and increase jobs in the area. Some state that this is a rescue plan for Hollywood at a time when funding from private investors was fleeing the movie industry.

Greg Albrecht, chief economist for Louisiana’s legislative fiscal office said “It’s an expensive way to create jobs,” The number of high cost movies made under these plans have increased quite a bit over the years. Further, Greg Albrecht, said “There’s no way you can say this makes money for the public”. Nearly 40 states were offering large subsidies of this type.

Noah Berger, who is executive director for the Massachusetts Budget and Policy Center said “There’s no evidence yet that this is a particularly efficient or effective way to create jobs.”

Some bloggers agree. Perez Hilton's site stated this morning "Looks like you can lump Hollywood into that pile of crappy, greedy people mooching off of the American taxpayer." For further reading, refer to the New York Times article.