Hypocrisy in Action: U2's Bono

[faither]

He's called out Ireland's government to increase the foreign aid it contributes but the band has moved their music publishing company to the Netherlands to avoid paying corporate taxes to Ireland.

Love the music but their actions make them sound like another phony baloney.

Linky (http://bloomberg.com/apps/news?pid=20601109&sid=aef6sR60oDgM&refer=home)

[Cubsfan]

I only skimmed the article, but perhaps they're moving because they don't want a bunch of money going to a government who won't increase their aid?

[CornMonkey]

I only skimmed the article, but perhaps they're moving because they don't want a bunch of money going to a government who won't increase their aid?
that's what it sounds like to me.

[Wizard]

You are correct, Bono really screwed this one up. As this story grows I'm sure he'll be seriously reconsidering this decision.

[Maarchk]

Haha these guys are awesome. We dont want to pay your taxes, but you should give lots of tax money to poor people in other companies. The funny part is, by them leaving, they should lower the GDP enough to make their wish come true... That would be amusing...

And this approach of asking people to forgive the poor countrie's debt and just keep giving more and more money away seems kind of dumb. I mean sure, why not just feed everyone and take care of them. Come tomorrow when they haven't learned to help themselves, they'll be back in line and we can spend the worlds time and money taking care of them again...

That all being said, it is just about money.. The taxes in ireland dont seem to start until after 600K for them because they are musicians. Thats rough.. man i'd want to get out because heaven forbid we pay our taxes.

[Showtime]

UK's taxes are like 40% - 50% from what I remember. Whatever taxes the UK is missing out on by u2 moving it's publishing company is more than offset by all the good the band has done for the past 20+ years. Bono has brought more awareness to various causes than the royal family over the that span. Besides, the UK gets plenty of taxable money from all the concerts, cds and u2 paraphanalia that is and has been sold there over the years.

[faither]

As I read it they could have restructured in Ireland and paid only a 12.5% corporate tax (avoiding something like a 42% liability).