Tags: michigan | tax-credit | moore | capitalism

Michigan Tax-Credit Financing Went to Michael Moore's Anti-Capitalism Film

By    |   Wednesday, 05 December 2012 03:50 PM

Documentary filmmaker Michael Moore received financing from a Michigan tax-credit program for his anti-capitalist film, "Capitalism: A Love Story."

Moore's production company had sought financial assistance from the Michigan financing program and was given $841,145 in credits for the production of the movie criticizing capitalism, according to the New York Times.

Moore directed, wrote and stars in the film that focuses on the recent financial crisis and stimulus, while indicting the current American economic order and capitalism in general.

“Capitalism: A Love Story” examines the impact of corporate dominance on the everyday lives of Americans (and by default, the rest of the world),” according to an IMDb plot summary. “The film moves from Middle America, to the halls of power in Washington, to the global financial epicenter in Manhattan. With both humor and outrage, the film explores the question: What is the price that America pays for its love of capitalism?”

“Moore jabs his finger at everyone from Reagan to Bush Jr, Hank Paulson to Alan Greenspan.” reads a Guardian review of the movie released in 2009. “He drags the viewer through a thicket of insurance scams, sub-prime bubbles and derivative trading so wilfully obfuscatory that even the experts can't explain how it works … The big villain, of course, is capitalism itself, which the film paints as a wily old philanderer intent on lining the pockets of the few at the expense of the many.”

The Michigan film tax credit program was started up by former Gov. Jennifer Granholm who is now a Current TV anchor. Filmmakers could potentially receive close to 50 percent of their in-state investment funneled back to them.

The tax credit program was subsequently curtailed by Republican Gov. Rick Snyder, who was convinced that it made better sense to lower taxes for all businesses.

"States harm themselves by competing on tax credits," the new governor's budget director, John Nixon, said in an interview.

Moore's movie ended up grossing $14,363,397 domestically, with a total budget of $20 million, according to Box Office Mojo.

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Documentary filmmaker Michael Moore received $841,145 in tax-credit financing from a Michigan film program established by former Gov. Jennifer Granholm for his anti-capitalist movie "Capitalism: A Love Story."
Wednesday, 05 December 2012 03:50 PM
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