U2 dodging tax?

shnaek · 10-08-2006 11:12AM

U2 are a global brand, and Bono is the CEO. While the CEO will speak up on some issues he will not take a stand that will damage U2 inc, as opposed to the Dixie Chicks, REM, Springsteen etc who will take a stand for what they believe in whether it hurts their sales or not.

U2 inc are perfectly entitled to avoid paying tax here. Many of us would do it if we could. Should we condemn them for it? No. Should we respect them for it?

Dyr · 10-08-2006 11:20AM

Dragan wrote:

i know very few aspiring musicians who do not dream of playing to the big audiences, and making the big bucks.

I know lots of musicians and i cant think of any who have aspirations towards "the big time", they'd like lots of money but being a star? nah. It's usually tossers like mono who only play in a band in the hope of "making it"

Dragan · 10-08-2006 11:26AM

Bambi wrote:

I know lots of musicians and i cant think of any who have aspirations towards "the big time", they'd like lots of money but being a star? nah. It's usually tossers like mono who only play in a band in the hope of "making it"

As i said, playing to big audiences and making big bucks.

I never said anything about being a star.

\m/_(>_<)_\m/ · 10-08-2006 11:29AM

shnaek wrote:

U2 are a global brand, and Bono is the CEO. While the CEO will speak up on some issues he will not take a stand that will damage U2 inc, as opposed to the Dixie Chicks, REM, Springsteen etc who will take a stand for what they believe in whether it hurts their sales or not.

so very well said, i have been trying to put my finger on it for so long, but you have hit it in one...

U2 are not a band into music, they are a business into making money.
where as the rest you quoted are into the music... great point and very well proven...

that's why they are lacking musically, but still one of the biggest selling "bands"

Dragan · 10-08-2006 11:30AM

\m/_(>_<)_\m/ wrote:

that's why they are lacking musically, but still one of the biggest selling "bands"

Spot on. They are well marketed....there songs "mean something".

They are "positive" etc.....parents don't mind there kids listening to U2.

peustace · 10-08-2006 11:37AM

Bono the CEO? what a load of sh**e. Every member of U2 has the same level of say in the direction of the band, some would argue the Larry has the strongest say. This whole thing about u2 leaving for Tax reasons has all of a sudden become an issue about Bono. Maybe Bono has no say where the money resides but typical of us Irish we beat down the guys that have made it to the top.

And so what if Bono spoke to the UN the same year How to Dismantle an Atomic Bomb. He has been working on the Debt issue for the last 20 years. Its only in the last 7/8 years it has grabbed so much media attention. There has been more progress made in Debt cancellation in the last 3 years has there has been in the past 60 years combined and that is partly due to Bono, not so much is political influence, which is minimal, but the way he has used the media spotlight to highlight something we've ignored for so long. Credit, simply, where credit is due.

manonthemoon · 10-08-2006 12:21PM

Ethically, it is wrong. We all have to pay our way in this country. Why should they be any different?

Bono and the lads wave the flag but wont pay tax like the rest of us. Paying tax is a more patriotic act than waving a flag, singing national antem, watching our national team etc. Quite simply when you pay tax you are putting a share of your earnings back into the country, back into the community for the greater common good.(How the money is spent by the government is another issue)

The more you spend the more you should be obliged to pay back in. It is simply, the right thing to do.

As for U2, ye are either with us or ye are not.

Giblet · 10-08-2006 12:25PM

manonthemoon wrote:

Ethically, it is wrong. We all have to pay our way in this country. Why should they be any different?

Bono and the lads wave the flag but wont pay tax like the rest of us. Paying tax is a more patriotic act than waving a flag, singing national antem, watching our national team etc. Quite simply when you pay tax you are putting a share of your earnings back into the country, back into the community for the greater common good.(How the money is spent by the government is another issue)

The more you spend the more you should be obliged to pay back in. It is simply, the right thing to do.

As for U2, ye are either with us or ye are not.

No, they pay tax and they pay more than any one person could ever hope to earn in their life time, probably 5 times over. They just pay a smaller percentage than the rest of us.

If anyone else had that kind of money, you would have to have an idiot financial advisor to be paying the same rate as the rest of us chumps.

10-08-2006 01:23PM

Gotta hand it to Bono.

Years of talk about poverty, and then he sinks a cool quarter billion into the tribute to and celebration of American capitalism that is Forbes Magazine!!

Talks the left wing anti-America clatrap, but when it comes to putting his money down he's to the right of Bush...

http://news.independent.co.uk/world/americas/article1217552.ece

latenia · 10-08-2006 01:44PM

Giblet wrote:

No, they pay tax and they pay more than any one person could ever hope to earn in their life time, probably 5 times over. They just pay a smaller percentage than the rest of us.

If anyone else had that kind of money, you would have to have an idiot financial advisor to be paying the same rate as the rest of us chumps.

Actually, they each usually pay about the same income tax each year as someone on about E50-60k.

The artists exemption is a national scandal; why should someone who works hard 6 days in a warehouse be valued less than a cynical money making exercise knocking out Barry Manilow covers (Westlife)? In fact, what bright spark in the Revenue decided that Westlife, Boyzone, Def Leppard, Chris De Burgh etc are 'original' or of 'cultural merit'? Those are two of the supposed conditions for receipt of this exemption.

It's an interesting coincidence that the Taoiseach's only two children are both large beneficiaries (one through her husband) of this break. Could this have been part of the reason why it wasn't stopped altogether?

\m/_(>_<)_\m/ · 10-08-2006 01:55PM

Deleted User wrote:

Gotta hand it to Bono.

Years of talk about poverty, and then he sinks a cool quarter billion into the tribute to and celebration of American capitalism that is Forbes Magazine!!

Talks the left wing anti-America clatrap, but when it comes to putting his money down he's to the right of Bush...

http://news.independent.co.uk/world/americas/article1217552.ece

what a f@#king hypocrite... he is some ass.
he doesnt give a s#it about the poor or all that other s#it he waffles on about.
never mine the "end poverty" try "end bono"

Giblet · 10-08-2006 03:11PM

I don't see how making money is hypocritical. What do you expect him to do? Give every penny away? Maybe in a few years he will give it all away when all these investments have great returns. Some of the jumps people make, it's ridiculous.

manonthemoon · 10-08-2006 03:36PM

Giblet wrote:

I don't see how making money is hypocritical. What do you expect him to do? Give every penny away?

No, just pay his way. Same as the rest of us.

Giblet wrote:

Maybe in a few years he will give it all away when all these investments have great returns.

I might refrain from paying taxes myself. "Oh yeah, Mr. Taxman, I am not paying taxes at the moment because I have a few investments and in few years I will be minted and then I will pay you back. I Promise. Scouts honour.":rolleyes:

Its the same for all the rest of the Irish Super-rich. JP McManus, Magnier etc. proud to be Irish until they have to cough up some of their lolly.

Sell Outs the lot

10-08-2006 05:59PM

Giblet wrote:

I don't see how making money is hypocritical. What do you expect him to do? Give every penny away?

Not at all. If I were him, I'd do the same. But he shouldn't give us all that anti-capitalist guff (as any survivor of the Merchant of Venice Inter Cert syllabus will tell you, money lending and the expectation of a return is the epitome of capitalism) while at the same time sending his money abroad so as to avoid tax and investing it in the bannerhead of American capitalism.

Great singer. Good luck to him and his money. Just no more lectures and moralising please.

Takeshi_Kovacs · 10-08-2006 07:57PM

Yeah but, shure isn't he going to give away that extra 15 million to the poor.. being the good fella that he is...

Terry · 10-08-2006 09:34PM

when has bono spoken in an anti-american/ anti- capitalism way?
i'd actually like to hear or read it.

BendiBus · 13-08-2006 12:57PM

Maybe Bobo was still thinking about the poor when moving his money to Holland

http://news.bbc.co.uk/2/hi/business/4785813.stm

13-08-2006 01:22PM

julep wrote:

when has bono spoken in an anti-american/ anti- capitalism way?

He campaigns continuously for countries to write off their loans, which is pretty much counter to the idea of capitalism and a return on investments. Google 'Bono debts' for any of his many pronouncements.

Collie D · 13-08-2006 01:44PM

Lust4Life wrote:

U2 were the forerunners in gouging fans in ticket prices.
Only the hardest or hardcore fans would pay so dearly to attend.

Don't agree with that at all, I've always found that wheneve they play in Ireland their tickets are cheap compared to other acts of their size/status.

Terry · 13-08-2006 02:24PM

so he's supposed to live in poverty while campaigning for rich countries to write off debts owed to them by third world countries?
this whole bono bashing is really sad and just shows how many Irish people are begrudgers. rich Irish people are no longer getting their money by screwing over the poor people and helping the english. that ended nealry 100 years ago. time to let it go, people.
the man tries to do some good and all he gets is people calling him a prick for earning money.
he entertains millions around the world and that's how he makes his money. you might not like his music, but plenty of other people do. just get over it. it's not like he's taking money out of your pocket.
anyway, top charitable people of last year:

Forbes Magazine has published a list of “Generous Celebrities”, highlighting the incredible generosity of some of the world’s most public faces.
The ten celebrities listed are:

* Bono supports AIDS charity DATA and many others
* Sandra Bullock gave $1m to the American Red Cross after the 9/11 bombings, and has also donated to the Tsunami relief fund
* Nicolas Cage supports Chrysalis, an LA charity for the homeless, and gave $1m to Katrina relief
* Jackie Chan is a UNICEF ambassador, founded the Jackie Chan Charitable Foundation, and gave $100,000 to Chrysalis
* Céline Dion is Celebrity Patron for the Canadian Cystic Fibrosis Foundation, and donated $1m to the American Red Cross after Hurricane Katrina
* Angelina Jolie has given more than $3m to the UNHCR
* Paul McCartney supports the Adopt-A-Minefield charity, and he and wife Heather Mills jointly donateed $1.9m to Tsunami relief
* Arnold Schwarzenegger supports the Special Olympics, and in 2001 he donated a total of $4.1m to the Twin Towers fund, After School All Stars and Nelson Mandela’s children’s fund
* Steven Spielberg is a patron of the Righteous Persons Foundation, founder of the Survivors of the Shoah Visual History Foundation, and gave $1.5m to the Hurricane Katrina relief efforts
* Oprah gave $52m to charity in 2005 alone, and wrote a personal cheque for $10m to help victims of the Katrina disaster

http://www.looktothestars.org/news/71

yeah. lets all shoot bono for asking rich countries to help poorer ones. he doesn't give any of his money to them.
bono bashing is fashionable and all bono bashers are sheep.

13-08-2006 02:32PM

A list from WHAT magazine? Forbes? Hasn't he just handed them a cool quarter of a billion?

Bono is a great singer. He is entitled to do what he likes with his money. But the suggestion that he is above criticism or that to do so is just begrudgery is nonsense. What next, we can't question Bertie Ahern because he's Irish and it's just begrudgery? No public figure is above questioning, Irish or not. To say it's begrudgery ignores the valid point that one should not preach and preach and preach yet practice something different.

is_that_so · 13-08-2006 02:34PM

latenia wrote:

The artists exemption is a national scandal; why should someone who works hard 6 days in a warehouse be valued less than a cynical money making exercise knocking out Barry Manilow covers (Westlife)? In fact, what bright spark in the Revenue decided that Westlife, Boyzone, Def Leppard, Chris De Burgh etc are 'original' or of 'cultural merit'? Those are two of the supposed conditions for receipt of this exemption.

It's an interesting coincidence that the Taoiseach's only two children are both large beneficiaries (one through her husband) of this break. Could this have been part of the reason why it wasn't stopped altogether?

Simplistic is an understatement for your narowly targetted comments. The exemption exists for a wide range of artistic endeavours and includes people who could end up working in a warehouse instead. Culture covers many things we may not like or care about but it is something we need to cultivate and preserve even if it includes some of the objectionables you mention.

As for Bono - a bit disappointing to see. "Do as as I say and not as I do ? "

Terry · 13-08-2006 02:41PM

Deleted User wrote:

A list from WHAT magazine? Forbes? Hasn't he just handed them a cool quarter of a billion?

that article is months old. well before bono invested money in it.

Bono is a great singer. He is entitled to do what he likes with his money. But the suggestion that he is above criticism or that to do so is just begrudgery is nonsense. What next, we can't question Bertie Ahern because he's Irish and it's just begrudgery? No public figure is above questioning, Irish or not. To say it's begrudgery ignores the valid point that one should not preach and preach and preach yet practice something different.

i'm not saying he's above critism, but the blatant begrudgery of some people is sickening.
he gives millions to charity and devotes a lot of his time to it too. some people are just too quick to jump on the bono bashing train without actually looking at the good that he does.
do you think the people in the african countires he has tried to help are calling him a wanker? or are they greatful that he has highlighted their plight?

all i'm asking is that people look at the good work he has done before they start bitching about him, instead of just doing the popular thing and calling him a wanker because it's the cool thing to do.

fu(k the begrudgers.

is_that_so wrote:

As for Bono - a bit disappointing to see. "Do as as I say and not as I do ? "

so he saves a bit of money. that leaves him with more money to donate to charity.

13-08-2006 02:49PM

julep wrote:

that article is months old. well before bono invested money in it.

Deals for quarter of a billion take months, not days.

julep wrote:

he gives millions to charity
that leaves him with more money to donate to charity.

How much has he given to charity? Again, not saying he has to, buy you assert that he has and I'm just curious.

Collie D · 13-08-2006 02:54PM

What is it about Bono that gets up so many people's noses? He's not the only member of U2 who is saving money through this deal. Personally, I think the guy is a great singer and his Drop the Debt campaign cannot be knocked but having said that I have to switch off when he goes on one his little speeches, I'm more interested in the music. I just think that if I had the chance to find some way of paying less tax and it was legal I'd do it too.

13-08-2006 03:00PM

Collie D wrote:

What is it about Bono that gets up so many people's noses?

Google 'Macphisto' for starters anyway.

Collie D · 13-08-2006 03:03PM

MacPhisto was just a stage persona and I found some of his phone calls amusing - plus the wrap around shades are probably what most people think of when you mention Bono

mike65 · 13-08-2006 03:09PM

Has anyone suggested withdrawing grazing rights? That'll hurt them.

Mike.

magpie · 13-08-2006 03:59PM

Seize Bono's stockpile of Cuban Heel boots, sunglasses and nylon hair plugs. Lock up Andrea Corr. Hit 'em where it hurts.

Vorsprung · 13-08-2006 06:21PM

You moaners should dry your eyes. Bono has probably done more for the less fortunate in the world and given a greater percentage of his time and money to that cause than most of you or I could do in a lifetime. And he's not dodging tax, he's well within his rights to do what's he doing - he's avoiding tax, which isn't illegal or dodgy. You're just jealous!

U2 dodging tax?

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