How Can I Sign Georgia Banking PDF

How can i industry sign banking georgia pdf now

hi I'm Craig welcome to mark power Georgia has been in the news a lot lately along with some other states because of the restrictions on abortion that they passed that is not the topic of this video what I want to talk about is some of the response to Georgia in particular and that is boycotts by production companies like Netflix Disney lots of production companies have come together to say we are no longer going to film in Georgia and you might be saying well that's not that big of a deal like Georgia what do we mean by filming in Georgia like Hollywood that's where things are going on right the growth of the film industry in Georgia might have gone unnoticed by most people except for the fact that Marvel films their movies in Georgia and Marvel almost always has an end credits scene and the last thing you see before that end credits scene roles is that peach and that peach tells you that that movie was filmed in Georgia in fact in 2017 Georgia became the top place to be producing movies more of the top 100 performers in the box office were filmed in Georgia than they were in any other state including California Georgia has become this huge thing and that's why the film industry is responding this way and that's why this is a big deal so I want to explain to you how Georgia became this nine and a half billion dollar film industry and where that came from how it relates to Amazon how that relates to Vancouver Washington and Portland Oregon it relates Alexander Hamilton there are a lot of things going on here that I want you to understand so let's go ahead and talk through these the first thing you should know is that the reason why Georgia is the number one movie producing state is because of economics right of course it's economics that's why we're talking about on this video but just keep that in mind it's economics I think a recent example will help you understand that that's Amazon HQ to remember when Amazon announced that it was creating an HQ - and it created this huge frenzy everybody wanted to have Amazon come to their state to their city and so they were making these crazy bids offering huge tax breaks offering to change their name doing whatever they could to attract Amazon because Amazon was going to bring this huge boost to the economy a lot of people say that this is a waste of resources and John Oliver even went on this big rant showing that this is a terrible and they gave Noah's Ark as an example which that same Noah's Ark is now claiming insurance for flood damage the irony of that museum right of course but it is showing John Oliver went through and showed how often these types of subsidies and tax breaks are a huge waste of money but Georgia is the example that they are not that this is these types of tax breaks are actually amazing for an economy because yes that's how the film industry came to Georgia huge tax breaks and it's not just Georgia offering them every state offers some sort of incentive to films to come produce there and it's not just the state's its country's one of the reasons why these incentives got so aggressive in the last 20 years is because the film industry was losing a lot of business to Canada it turns out Georgia offers one of the best incentive systems and as a result film started to flood into Georgia in fact Atlanta is now being called the Hollywood of the south which isn't necessarily my favorite nickname I've seen other ones like gaga land or probably my favorites Hollywood the film industry has become so big that is making a huge contribution to the economy like I said nine and a half billion dollars wise Georgia offers such big tax incentives well let's go ahead and go to the Pacific Northwest to understand that you might not know this but Washington and Oregon are two unique states Washington does not have an income tax and Oregon does not have a sales tax so there's this really interesting thing that you can do if you live in Washington you don't have to pay income tax and if you do your shopping in Oregon you don't have to pay your sales tax so what do people do a lot of people move to Vancouver Washington right there on the border and shop in Portland Oregon they're able to minimize their tax bills just by where they live just like lower taxes will change where people move like to Oregon or Washington lower taxes will change where films do their business so when Georgia offers really generous incentives on taxes film production companies move to Georgia and what's happened as a result of all these film production companies moving in well Georgia gets a 9 and a half a billion dollars a year added to their economy and has to sacrifice about 140 million dollars now let's make sure that these are in the same Decimal System because it's hard to compare billion a million when you look at this but once you see them in the same terms all sudden you realize this is an incredible boon to the Georgia economy at a very small price like 140 million dollars compared to the nine and a half billion dollars this is a great deal for Georgia they should definitely be doing this this is the case for Amazon hq2 and offering up huge incentives because think about this if Georgia doesn't offer up those incentives the film production companies move other places and they get $0 in their economy so the choice for Georgia is to sacrifice 140 million dollars to get nine and a half billion dollars or to say we're gonna take all of it and then get nothing nothing in that economy this problem of people and businesses moving in response to taxes was something that was really concerning to Alexander Hamilton he was worried that if states had different levels of debt they would charge different taxes and that would force people to move around and therefore cause these really distortionary effects throughout the economy that's one of the reasons why in his report on public credit he advocates for the national federal government to take on the entire debt to assume state debt because that way the states wouldn't have this fight between them to change their taxes to get people to live in their state so this gives us a way of looking at the abortion bill in a slightly different terms in to these film companies they look at the abortion bill as an additional tax on their production in that state and so what they're saying is they are willing to sacrifice some of those incentives to get away from that additional tax that's coming through the abortion bill now there's a question about how credible their threat is the tax incentives and ecosystem that have developed in Georgia have become so good it's questionable whether film production companies can move so easily so now what we have is a game of chicken where film production companies say we're not going to produce here if you have this tax and Georgia might be the returning and saying well you can give up that tax incentive and move to another state we don't think you're going to and we're not going to change well Georgia change its bill first or will the production companies stay in Georgia let me know in the comments below let me know what you think about these incentives it's a controversial issue and I don't want this to turn into some controversial debate in the comments I want us to focus on the economics of the situation because they are really interesting thanks for watching market power today make sure you subscribe so that way you can stay updated on my most recent pop culture t-shirt