Tuesday, August 08, 2006

Budgets Don't Grow On Trees

I don’t think Bono understands where government budgets come from:

[T]he band — whose frontman Bono campaigns against global poverty — made the move in response to Ireland imposing a 250,000-euro cap on tax-free incomes. The ceiling ... [removes] the tax exemption on royalties previously in place and from which U2 and other Irish singers and bands benefited in their early years.

U2 were reportedly the world's biggest music earners last year, with an income of about 217 million euros. ... Last week, it was widely reported in Britain that the Rolling Stones paid only 1.6 percent in tax on earnings of 81.3 million pounds last year by using offshore trusts and companies, including one in the Netherlands.

The man that has been begging, pleading and cajoling governments to hand out billions of dollars in aid to Africa doesn’t think that he should participate in footing the bill.

What a hypocrite.

HatTip: KipEsquire

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