Saint Bono, tax dodger

[billc]

This article examines the new move by Bono to avoid...wait for it...paying his fair share...in taxes. Yes, the guy who wants countries to forgive 3rd world debt is doing his best to avoid paying his taxes. Not a surprise, and this article details the events. Also included are the former Beatle John Lennon producer of the lyrics " imagine no possessions..." unless of course they are his. He moved to New York to "imagine" possessing more of his own money...

http://bighollywood.breitbart.com/t...usader-bonos-taxes-too-damn-high/#more-482064

from the article:

Like any human, he wants to keep as much of what he earned to himself. So when we learn that Bono is moving his publishing facilities to a friendlier tax haven, the only question should be: why didn’t he leave years ago? (Actually that one is pretty easy to answer: Artists were granted full tax exemptions on royalties in Ireland; until the financial crisis made them reform their tax policies, and they capped the exemption at €250,000 in 2006.)

Mick and the boys took Rolling Stones Inc. to France about the same time, to avoid England’s 83% marginal rate. The Rolling Stones now keep their songboooks in the Netherlands, where royalties compound virtually tax free, and will be handed down to their long impatient heirs without a death tax.

 

[Sukerkin]

As has been noted before, for all the bleating about taxation, the rich usually find a way around it. It's just sometimes the methods are more visible to we poor plebs than others.

 

[Ramirez]

well I finally agree with you but this is ancient history.

 

[granfire]

wasn't that a rerun anyhow?

(on the other hand, he does probably more with his discretionary fund than the government with the whole budget - oh, right, Bono is not on that side of the ideological spectrum...)

 

[yorkshirelad]

Back in Dublin in the 90s, I worked on a Security detail for U2 for a good few years. A handful of us worked in the band's nightclub 'The Kitchen' a few nights a week and then we would work at domestic concerts and during rehearsals. I would spend my time reading when rehearsals were on and I remember Larry Mullen stealing my book "Angry, White Pyjamas", (I think he just picked it off the floor and began reading it one day). I'm glad it went to a good home.

All I can say about Bono is that he is a truly good guy, and seems to really care about the people around him. I witnessed a few random acts of kindness during my short tenure with him that made him a pleasure to deal with.

 

[Sukerkin]

Always nice to get a personal perspective on a more-or-less public figure :tup:.

 

[Xue Sheng]

Ummmm.... when did Bono become a Saint

 

[billc]

My question would be, has Bono ever asked the government of Britain to forgive the debt of any third world countries? Is Bono still a citizen of Great Britain? Or is there a seperate status for the Irish? If Bono is a citizen of Great Britain and has pushed that country to forgive the debt, then he shelters his own taxable income, doesn't that make him something of a hypocrite, since his money won't be affected to make up the debt that isn't repaid?

 

[Tez3]

My question would be, has Bono ever asked the government of Britain to forgive the debt of any third world countries? Is Bono still a citizen of Great Britain? Or is there a seperate status for the Irish? If Bono is a citizen of Great Britain and has pushed that country to forgive the debt, then he shelters his own taxable income, doesn't that make him something of a hypocrite, since his money won't be affected to make up the debt that isn't repaid?

Bono has never been a citizen of Great Britain, he's from Eire (Republic of Ireland) a totally different country to GB.

 

[billc]

Thanks Tez. So he is cheating Ireland out of taxes.

 

[Sukerkin]

On this one I do agree with you, BillC. Hypocracy ever leaves a bitter taste. Of course, if he uses all the 'sequestered' funds for some worthy cause then there might be a bit more forgiveness.

 

[billc]

Unless he preaches about raising taxes and paying ones fair share. I would agree with his attitude of keeping the money he has earned and then spending it where he wants. If he spends that money helping others, that's great. If he spends it buying sports cars, that's great as well, since there are countless jobs created when he buys a sports car. If he believes that taxes should be really high, and then hides his own money, and then spends money to help the poor, I don't think that is right. He would be helping to burden other people with taxes that would hurt their families and possibly keep from them that much more freedom to do with their money what "they" want. Some people may not have the abiltiy to protect their money the way Bono does.

 

[yorkshirelad]

Unless he preaches about raising taxes and paying ones fair share. I would agree with his attitude of keeping the money he has earned and then spending it where he wants. If he spends that money helping others, that's great. If he spends it buying sports cars, that's great as well, since there are countless jobs created when he buys a sports car. If he believes that taxes should be really high, and then hides his own money, and then spends money to help the poor, I don't think that is right. He would be helping to burden other people with taxes that would hurt their families and possibly keep from them that much more freedom to do with their money what "they" want. Some people may not have the abiltiy to protect their money the way Bono does.

Bill, Bono is probably paying more taxes per year than you will pay in your entire life. I don't agree with some of his stances, but I can tell you from first hand knowledge that the guy is a genuinely good bloke who cares about the causes that he supports. It's not just face value with him! I don't know anything about his taxes, but he and his wife have done some good work for those less fortunate than us.

 

[David43515]

Thanks Tez. So he is cheating Ireland out of taxes.

Cheating might not be the right word if he`s playing by their rules. He`s just moving to a place where the rules are more favorable.The US is one of only two countries in the world that taxes the earnings of it`s citizens who live overseas. Most other nations realize that if you live in xxxxxxxx you`re also paying taxes there. Since I make less than $50,000 a year I don`t have to pay US taxes on top of my Japanese taxes, But if I made a bit more they`d nail me a second time.

 

[billc]

I'm just curious if he supports high taxes. If he does, and then he dodges them, that makes him less of a nice guy regardless of his charity work. He would be hurting families he doesn't know by helping to take money away from them and send it to corrupt politicians. Now, as I said, I don't know if he supports high taxes, so I will reserve judgement on the guy.

 

[yorkshirelad]

My wife and got backstage passes for the U2 concert in Anaheim last night. I hadn't seen my old boss for six years. We ate with the crew and watched the concert from the front of stage. Great food, great friends, great music. Happy days!!