So, it seems that Bono, oh he of the 'I am so much holier than anyone else', is the subject of a protest this weekend at Glastonbury.
Why you ask? Well it seems that the avenger for the poor and equality to everyone in the world, has , at the advice of some no doubt extremely well paid accountants , moved the bands tax domicile to the Netherlands, because it works more in their favour. i.e. they pay less tax.
http://edition.cnn.com/2011/WORLD/europe/06/24/uk.u2.tax.protest/
I am sorry but please defend that at a time when their homeland is basically on the edge of defaulting and being plunged into a financial abyss.
It seems that everyone is equal, but some are more equal than others . . . . .
Poo Poo Bono!!
ReplyDeleteIs it right or wrong? I don't know, this is how it is with most big international corporations, they shelter their main business interests in small countries with easier tax laws. U2 moved, I guess, because Ireland have recently introduced a tax on artistic royalties, so this prevents them from paying any more than they did before. Lots of businesses do that. And lots of 'artists' have done it, by moving their business or just living abroad. The Rolling Stones. Pink Floyd. Etc. Always going to 'offshore accounts' and all.
ReplyDeleteU2 will get stick for it though, because Bono is so damned in your face about compassion for the poor. But U2 aren't the cause of or solution to Eire's economic woes, (that's from a Franco-German dominated Euro and the Irish banks' irrational real estate speculation during the Boom years). A single currency over a number of independent countries is only trouble when some countries are poor (Eire) or suffer from bad management (Greece). If it was ONE government, then the wealthy countries would be more inclined to help out the poorer areas. It's a convoluted mess that makes my head spin just to think about it.
Spain is in bad shape which extends to including Portugal in the downward spiral. Greece is in the news a lot. The Euro will collapse soon and each country will have to go through the painful process of re-introducing their own currency again.
Eire's taxes are high-ish and U2 have payed them all these years. They were one of the groups that stayed Irish and stayed in Ireland. The E.C. is unbalanced because the richest countries basically run things (France, Germany) although France are stumbling a bit.
Another thing. It's not a democratic system. It's not even a capitalist system. It's feudalism. The majority is controlled by the few who have the most money and the rest of us are their surfs. This is a whole other rant on another topic. This doesn't refer to wealthy organisations like U2 ltd or Pink Floyd corp. which are independent companies that earned their own money and employ a few people, this is big business that buys up all the competition to hold a monopoly and control prices to maximize their own profits. So instead of lots and lots of companies providing hundreds of different services, it is now 4 or 5 companies controlling the whole thing. THEY ruin economies! Along with corrupt politicians.
So I don't care about the (maybe) little hypocrites. As I said, U2 or the Stones or Pink Floyd aren't the cause or solution to Eire's Or England's economic bust. Maybe Bono should do some of his charity work a little more quietly, but he (they) have raised awareness about certain issues like world poverty or human rights. And they HAVE given a lot of money to various charities etc... Because they live like kings (like many others) doesn't make the causes wrong.
ReplyDeleteThey continue to pay income tax to Eire, land taxes and other assorted business taxes. Their royalties just accumulate elsewhere now. We all as far as we can, look for legal ways to shelter our money from the tax man.
I don't know any of the afore mentioned people personally, so I don't have any feelings one way or another about what they do (as long as it doesn't hurt people). I buy U2 or Pink Floyd Or Rolling Stones because I like a nice tune. Should U2 have just shut up and started paying the new extra taxes on the royalties, or moved the business elsewhere. Well, ask an accountant to a successful business and see what he says. What would you do?
You and I and all the people who complain or support these people can't know the whole truth. But you can be assured that as long as U2 stay in Eire, and conduct business from there, they will continue to pay the taxes that they always have.
It might be a good idea to look at some of the other wealthy stars and how they managed their money and who they donated too etc..U2 are just in a position to be an easy target.(because of st. Bono the visible).
If you'd like some delicious Bono and U2 bashing, find some stuff that Ian McCulloch of Echo & The Bunnymen (another band I REALLY like) has said over many, many years. I laugh too! Who cares? I still have to go and do the dishes or have nothing to eat on!