Inane Tax Reform Bill Provision Would Sting Makers of “Violent Video Games”
Posted February 27, 2014on:
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(Paraphrased from article, because I can’t say it any better: This isn’t the place to have the, “Do violent video games harm us?” debate. This is the place to have the, “How could anyone be that blindly biased about one art form over another?” one.
The House Ways and Means Committee is working on a tax reform bill, which sounds like a great idea in the sense that it involves the words “tax” and “reform.” But as you know, one person’s notion of reform can be another’s Scarlet Letter, and alas, that seems to be the case with an unfortunate provision in the proposed bill that would “[prevent] makers of violent video games from qualifying for the R&D tax credit.”
In addition to lowering the corporate tax rate to 25% (itself a controversial move), the tax reform bill would alter the R&D Tax Credit. That credit, alternately known as the Research and Experimentation Tax Credit, has been around since 1981. It’s a straightforward enough incentive for companies that generate R&D expenses in the U.S. It was supposed to expire in 1985, but it’s been renewed or extended over 20 times. The proposed tax reform bill would…
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