U2 Tax Hypocrites

[Cort Haus]

Bono lectures the Irish Govt on spending, while persuing tax-avoidance policies of his own.

http://www.bloomberg.com/apps/news?pid=email_en&refer=home&sid=aef6sR60oDgM

Oct. 16 (Bloomberg) -- Bono, the rock star and campaigner against Third World debt, is asking the Irish government to contribute more to Africa. At the same time, he's reducing tax payments that could help fund that aid.

After Ireland said it would scrap a break that lets musicians and artists avoid paying taxes on royalties, Bono and his U2 bandmates earlier this year moved their music publishing company to the Netherlands. The Dublin group, which Forbes estimates earned $110 million in 2005, will pay about 5 percent tax on their royalties, less than half the Irish rate.

``Among the wealthiest people I suppose it's the norm,'' Jill Cassidy, 23, said on South King Street near a plaque marking the site of Dublin's Dandelion market, where U2 played some of its earliest concerts. ``In U2's position, it does come across as quite hypocritical.''

[Saras]

teh hipocrisy

[Wezil]

Can we get them to move the band to the Netherlands as well?

And get them to stay there?

[Provost Harrison]

Far too close!

[Wezil]

Works for me.

[Winston]

Much as I dislike Bono and the ridiculously inflated ego that he seems to be steadily developing, I don't think there's anything remotely hypocritical about this "story".

[Caligastia]

I agree. I'm no fan of Bono, but if he is unhappy with the way that the Irish govt is spending taxes, why should he contribute more to it?

[DinoDoc]

What's hypocritical about this, Cort Haus?

[Caligastia]

It would be hypocritical if he didn't contribute any of his own money to African causes, but I'm sure he does.

[Cort Haus]

Originally posted by DinoDoc
What's hypocritical about this, Cort Haus?

Isn't it obvious? Uber-rich pop star berates his govenment for not spending enough on the poor while reducing his own contribution to the coffers.

Bono makes me puke with his perpetual pious posturing.

[Caligastia]

Originally posted by Cort Haus
Bono makes me puke with his perpetual pious posturing.

Agreed, but surely it would only be hypocritical if he didn't contribute through other means.

[Cort Haus]

Maybe he does contribute privately (doubtless via tax-deductable schemes). Though, presumably the welfare of the poor and the infirm of Ireland doesn't matter to him enough to pay his taxes. Oh wait, those causes don't sell albums as well as being seen to Care For Africa.

I don't care what his tax arrangements are as long as he is not acting the saint and being holier-than-thou everywhere.

[Caligastia]

I totally agree. If you believe in a cause, you should quietly contribute without chastising others for not doing so. And I hardly think it appropriate for Irish tax revenue to be sent to Africa.

[Jon Miller]

That is what so many people/corporations do, and it pisses me off.

They take advantage of a countries benefits, and use them (roads, police, etc).. yet move 'themselves' to some foreign country so that they dont' pay taxes.

A bunch of leeches, if you ask me. That is why I have said that corporations (who do it all the time) are parasitic.

JM

[Caligastia]

If it's a US company, then moving offshore makes sense because the US is the only country that taxes its companies on overseas revenue. Blame the tax system, not the company.