If you tax something, you get less of it.....
Anybody who has paid for theater tickets recently in New York City knows what a big hole they can leave in the family budget. Gov. David Paterson of New York wants to make that hole even deeper with a new theater ticket tax.
The proposal could increase ticket prices by about 8%, which could dim Broadway’s lights as tourists start thinking twice about that vacation in Manhattan. If tourism slumps in the city, the state’s budget problems would surely worsen along with it. Rocco Landesman, the president of Jujamcyn Theaters, summarizes his latest pleas to lawmakers this way: “Please, don’t kill your golden goose.”
Thirteen Broadway shows have closed within the last month, including spectacles like “Spamalot,” “Hairspray,” “Spring Awakening” and “Young Frankenstein.” The last thing New York City needs is for ticket prices to go higher and more of the Great White Way to go dark.
~NY Times Editorial
HT: Carlo DiPietro
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