Oliver Stone, it turns out, is a bludging ratbag:
When Oliver Stone made the 2010 sequel to âWall Street,â in his mind there was only one place to shoot it: New York City. Nonetheless, the film, a scathing look at bankersâ greed, received $10 million in tax credits, according to 20th Century Fox.
In an interview, Mr. Stone criticized subsidies for industries like banking and agriculture but defended them for Hollywood, saying that many movies can be shot anywhere and that their actors and crew members pay state income taxes. âItâs good,â Mr. Stone said of the film subsidies. âOr like basically the way business is done. I donât understand what the moral qualm is.â
The practical consequences can be easily seen. TheÂ Manhattan Institute for Policy Research, a conservative group, found that the amount New York spends on film credits every year equals the cost of hiring 5,000 public-school teachers.