Bono, Who Preaches Charity, Profits From Buyouts, Tax Breaks

Bloomberg.com ^ | January 2007 | By Richard Tomlinson and Fergal O'Brien

[Neoliberalnot]

bloomberg news articles are links only

[Neoliberalnot]

Another limo-liberal so generous with other peoples' money while making himself and his band look like the poor widow donating one of her two pennies. Murphy points to the band's decision to move its music publishing company to the Netherlands from Ireland in June 2006 in order to minimize taxes. The move came six months before Ireland ended an exemption on musicians' royalty income, which is generally untaxed in the Netherlands.

``This is somebody who's exceptionally rich taking the opportunity to shift his tax burden to somebody else, but then asking governments around the world to spend that tax take in the way that he would like,'' Murphy says.

U2's move to the Netherlands is wrong, says Dick Molenaar, senior partner at All Arts Tax Advisers, a Rotterdam-based tax consulting firm for artists and musicians. ``Everybody needs to pay his fair share of taxation to the government, and therefore we have roads and education and everything,'' he says.

"

[AD from SpringBay]

Even Bono understands - paying taxes is not the same as giving.

[Spok]

Another millionaire liberal who thinks charity begins with other people's money.

[Neoliberalnot]

Most people, myself included, don't mind paying their fair share of taxes. I estimate 50% of my income goes to taxes but that doesn't keep me from donating to church, and scholarship funds for the children of soldiers killed or maimed in action. Furthermore, my giving is anonymous, not to promote my public image, nor for tax deductions.

[aculeus]

Taxes are nearly as important as pants.

[Sidebar Moderator]

Do you have a working link for this?

Thanks

[newheart]

This article could have been written by Nancy Pelosi or Ted Kennedy or any liberal Democrat who thinks that government is the only rightful heir of the fruits of one's labor. For crying out loud. Good for Bono.

[laotzu]

Expressed as a percentage, at what point do you consider the tax rate to be unfair?

[FourPeas]

Try Here

[FourPeas]

``We don't think this fits with Bono's image, and we're trying to get him to recognize this fact,'' says Chuck Kaufman, a Washington-based spokesman for the international Venezuela Solidarity Network, which supports the government of Venezuelan President Hugo Chavez.

Well, with sources like this who think that Bono is wrong, who am I to disagree. /sarc

[peeps36]

Bonehead is a typical liberal hypocrite who uses the plight of poor people to enhance his own image.He does this to shame others into giving money to the poor and to provide cover for himself.

[NativeNewYorker]

Bono bought a ~$13 million park-facing apartment in the San Remo, on CPW here in NY. He could have paid $3 million for a back apartment, and given $10 million to charity.

[SoCal Pubbie]

Well, The Lord only asks for ten percent. That might be a place to cut it off right there.

[razorback-bert]

Wait until NYC starts taxing views!

[khnyny]

Exactly. Good for Bono. Come on people, can't you recognize a hit piece when you read it?

[vetvetdoug]

I agree with Bono. Screw the government taxes. Government can't spend a dime without squandering at least nine cents of it. His time lobbying for charities is worth something. The only true altruistic and totally giving individuals are monks. Everyone else is in it for the money.

[khnyny]

LOL. That's actually pretty funny.

[Neoliberalnot]

Disagree, I think Pelousy and Teddy think just like Bono. They all want someone else to foot the bill and they are always so generous with other peoples' money.

[laotzu]

As best I have figured, & like Neoliberalnot, about 50% of my income is taken as taxes.

I believe the straw that broke the American revolution back was a tax increase to an unacceptable 2.8%.

I recall, during ther Carter years, the highest tax bracket was 76%. 76%!! And thats just federal taxes.

I am curious to know at what percentage of taxation would people revolt now.

[spintreebob]

Everybody needs to pay his fair share of taxation to the government

Is it possible that Bono has discovered that public charity is very inefficient and that if his gives his money privately then that private charity will be more efficiently used?

Is it curious that some would equate "charity" with "paying taxes"?