Those who doubt that the amount of economic-development tax breaks that state and local governments dole out has careened out of control should take a look at some newly revealed information about Massachusetts' film tax credit.
The credit, which offers filmmakers a 25 percent rebate if they spend at least $50,000 in Massachusetts, has always been a bad deal. Last year alone, it cost taxpayers $88 million in foregone revenue. Between 2006 and 2012, only about one-third of the spending the credits are estimated to have generated took place in Massachusetts, and a similar percentage of the jobs that were created were local ones. When you add it all up, taxpayers paid more than $118,000 for each new Massachusetts job attributable to the tax credit.