The problem with making more “child star laws” is they don’t stop the real problem. Too much money. If Corey Haim was given ten million he would’ve blown it all on drugs. You never give money to a junkie. In this case it didn’t matter how much money he made.
It was a simple fact, he didn’t get parts. It wasn’t a child actor thing, it was an actor thing. Lots and lots of actors are not able to work as much as they want to. Add in to the “reality TV” shows which don’t employ actors (well not directly anyway) and you get a saturated market.
Nell Carter of “Gimme A Break” said she made $20,000 an episode and she had no money 'cause whatever she made she spent on cocaine.
Chico Marx was asked how much money he lost being an addicted gambler. He replied, “Ask Groucho how much money he has in the bank, that’s how much I lost.” Groucho was known for never spending a dime, while Chico was known for spending it all on cards and horses.
Child actors are not earning millions and millions. OK they may gross that, but after taxes and agent and managers this is reduced probably by half. And all actors pay that. Add to that, they most likely live in high rent areas like Beverly Hills.
I read an autobiography of Sean Astin. He said he needed about $350,000 per year to maintain his lifestyle. He described himself as middle class in a LA suburb. In his book he said, he’s not famous but he can earn that much and described himself as a “working actor”
In reality a lot of people can earn that much. I know a GM at a hotel I worked in in Chicago made about $250,000/year so the pay isn’t so much.
Anyway Astin say when he was offered “Lord of The Rings,” he was offered $300,000 but then he realized that wasn’t for 1 year it was for ALL THREE FILMS. He said, as an actor it was too good to not take, so he reduced his lifestyle and took the role.
So you can see it’s not always about children being taken advantage. Like everyone else they have to make choices in life.
Certainly there were stars that got screwed over, especially in the old days. And I think NBC could’ve been much kinder to Gary Coleman as he (and Johnnny Carson) saved NBC during the early 80s.