Outside the Beltway

Outside the Beltway

A Tax for Thee, But Not For Me

Steve Verdon
9

Well Bono is now a full-fledged out-and-out hypocrite. After speaking out on world poverty and how more needs to be done, it turns out that Bono and his fellow bandmates are quite good at moving their money around to avoid paying taxes on it.

As of last year, U2 had amassed a net worth of 629 million euros — around $908 million — according to the annual “Rich List” of top earners in The Sunday Times of Britain.

You know, I can’t help but think that Bono and his fellow band members could feed quite a few starving children with just a fraction of that money. But, noooooo, that money will stay safely hidden in the Netherlands. Just in case, you know, Bono needs to buy a new pair of sunglasses or something.

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9 responses to “A Tax for Thee, But Not For Me”

  1. John Norris Brown Avatar
    John Norris Brown

    I’ve always like Bono, but this sort of thing really is indefensible.

  2. Anderson Avatar
    Anderson

    I’m puzzled. How does Steve know what the band’s intentions are for the money, or what extent of control Bono exercises over U2’s wealth?

    Bill Gates has spoken out against poverty, too, but I haven’t seen him condemned by Steve as a hypocrite. Maybe I missed that post.

  3. Steve Verdon Avatar
    Steve Verdon

    I’m puzzled. How does Steve know what the band’s intentions are for the money, or what extent of control Bono exercises over U2’s wealth?

    Too use a page of the Left’s play book, who needs almost a billion dollars in wealth? Nobody. Take awy 90% of it and Bono and his band members are still quite wealthy.

    Granted, I don’t advocate this, but given Bono’s stance and his views that not enough is being done, then add on he is moving his money around to avoid paying taxes…well it is just smarmy.

    Bill Gates has spoken out against poverty, too, but I haven’t seen him condemned by Steve as a hypocrite. Maybe I missed that post.

    Or maybe I was just un-aware of it. I know it is nice to be omniscient Anderson, but you’ll have to cut the rest of us some slack. 😉

    If Bill Gates is moving his money around from tax shelter to tax shelter and saying that more needs to be done to combat poverty then yeah, he’s being a hypocrite too. After all Gates’ personal fortune is larger than some countries GDP.

  4. Anderson Avatar
    Anderson

    I don’t see why even a quasi-libertarian economics type would say that Bono/U2 are to blame for legally avoiding taxes on their wealth. Aren’t individuals supposed to be that much smarter about how to spend their money?

    At any rate, it would seem plausible to give Bono some credit for having good intentions. The rest of the band, I dunno.

  5. Steve Verdon Avatar
    Steve Verdon

    It isn’t merely the seeking out of tax shelters…it is the double standard. Bono should pony up his wealth before he comes for my son’s college fund.

  6. Zelsdorf Ragshaft III Avatar
    Zelsdorf Ragshaft III

    Anderson, I would not ask Bono to give up his hard earned cash. Lord knows they are worth the money they charge their fans to see them play. I would just ask them to lower the outrageous prices they charge to see them play.

  7. Bithead Avatar
    Bithead

    Well Bono is now a full-fledged out-and-out hypocrite. After speaking out on world poverty and how more needs to be done, it turns out that Bono and his fellow bandmates are quite good at moving their money around to avoid paying taxes on it.

    So, have we given up on the distinction between charity and government confiscation? You seem to be arguing, as does Hillary Clinton, as does Bono for that matter, that the port can only be helped by increased taxation. I would hope you know that’s not true…

    charity, including helping the the poor, is an individual act. I would not expect Bono and Hillary Clinton not to understand the distinction.

  8. TJIT Avatar
    TJIT

    The problem is Bono has advocated for governments to force other people to pay more taxes while he does his best to pay less taxes.

  9. LJD Avatar
    LJD

    Steve, you forgot the other page out of the (Hollywood) Left’s handbook:
    Do as I say, not as I do.

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