Peter This Is Bono, I have a new Tax Shelter

In the prevailing climate, it has become unusual to expect anyone to feel guilt or shame about striving to reduce their taxes using legal means. But this week saw a rare example of just that, after the band U2 announced plans to shift part of their business operations from their home country, Ireland, to the Netherlands, to take advantage of its lower taxes.

Controversy arose because Bono and U2 were last year involved in lobbying the world's richest nations to give greater help to the developing world. Bono is an experienced campaigner on the issue, and has even set up his own non-governmental organisation, Data (Debt Aids Trade Africa), which was part of last year's Make Poverty History coalition. One of the campaign's main demands was that wealthy economies should donate at least 0.7% of their national income in aid.

The obvious charge against U2 here is hypocrisy. "Having listened to Bono on the necessity for the government to give more money [in] aid ... I am surprised that U2 are not prepared to contribute to the exchequer on a fair basis along with the bulk of taxpayers," said Joan Burton, of Ireland's Labour party.

 

I want a refund on my U2 iPod.

 

The investment partnership he's fronting (one of the general partners) has been pretty much a dud so far.

 

Why would Bono want to deprive the Irish government of such an important revenue stream, affecting Irish social programs and hurting Ireland's ability to contribute to African debt relief?

 

Maybe he feels by paying less taxes more money can be funneled towards awareness and directly to the cause. But, hey, why not call the guy a hypocrite? It is often easier to tear down those that do a few good deeds than to try and make yourself a better person.

 

Besides, the rules only apply to the little people

 

What rules would you be referring to?

 

Is Bono somehow above criticism, chiding or joking?

 

The guy has more money than he could spend in a million years. He could wipe his ass on Boom's face and throw Boom a diamond necklace to say thank you.

It could be a political statement against the Irish government or taxing bodies. It could be his financial manager's decision. Or, hell, he just might want it somewhere else.

Even if it's to keep a little more of the money he makes, he's entitled to protect his money just as anyone else is. He happens to spend more of his own money on charity work than probably any celebrity in history. I'd rather give him my money than give it to any government on the planet.

 

I'm not sure if this thread is more worthless with or without pictures. What is the board's wish?

 

Just got a letter from the investment partnership that has Bono as a general partner.

A current partnership executive is caught up in a stock option backdating scandal while CFO at another company. The letter reassures us of his absolute integrity. And Bono's signature on the letter.

LOL

Bono's hands soiled by the basics of American greed: A stock back-dating scandal. Welcome to corporate America, Bono.