Elton John, McCartney hit by economic crisis: rich list

http://new.music.yahoo.com/elton-john/news/ ^

[LottieDah]

LONDON (Reuters) – British singers Paul McCartney, Elton John and Mick Jagger have lost large chunks of their personal fortunes during the economic crisis over the last year, according to a rich list published on Friday.

Along with many of the world's richest people, their wealth has been eroded by sharp falls in the value of property, shares and other investments, the annual survey for the Sunday Times newspaper said.

Elton John's personal wealth fell by more than a quarter to 175 million pounds from 235 million pounds ($342.3 million) last year.

[Badeye]

Pardon me if I’m not all broke up over this one, folks.

[LottieDah]

My first thought was “boo friggin hoo.”

[a fool in paradise]

Will Mick Jagger again become a “Street Fighting Man”? I doubt it. Mick and Macca have both left their homeland at times to avoid steep tax rates. Rather than work to get those tax laws changed, they sought personal protections through various tax dodges.

[John123]

their wealth has been eroded by sharp falls in the value of property, shares and other investments

Well, they ARE too big to fail... right?

[Dallas59]

No more champagne enemas for Elton ....

[Badeye]

Figured it was.

[chimera]

Wasn't that the real reason why John Lennon fought so hard to get a green card? At the time the top marginal rate in the UK was something like 79% (or more), and he was paying it. Residing here lowered his marginal rate to something like 59%? I may be off on the numbers, but it was something ridiculous like that.

Roger Moore (I think) resided in Switzerland for similar reasons. It was a veritable cottage industry there for awhile, finding offshore tax havens for the wealthy Brits. See how well wealth confiscation worked out?

[longhorn too]

Can they apply for a bailout?

[LottieDah]

Why not, everyone one else is.

[Anti-Kenyan]

LOL. He will probalby just stick with the enemas he gets at the gay bath houses.....

[dennisw]

Times is tuff all over!

[dennisw]

Rolling Stones pay taxes in Netherlands and pay the minimum. They hire genius lawyers and accountants. They got ripped off a lot in the beginning

[alexander_busek]

Rather than work to get those tax laws changed, they sought personal protections through various tax dodges.

I dare say that, by ostentatiously relocating and thus avoiding taxes, they may have in fact drawn a great deal more attention to the unfairness (and ineffectiveness) of Britain's tax laws than if they had instead stayed and attempted to "fight it out."

Regards,

[a fool in paradise]

They are also working to extend the UK (and EU’s) copyright laws now that their own works are about to become public domain (as are the early works of Elvis, Sinatra, and other “yanks”). What’s changed? Why should some artists be due protection and others allowed to lapse into the public domain?

They are greedy hypocrites who talk peace, love, and socialism. That’s alright jack, keep your hand off my stack...

[Secret Agent Man]

What’s the point of the story? To show us the rich are hurting too? To garner sympathy for them? To still show that even though they’ve suffered ‘loss’ that they’ve still got dump-truck loads of money?

[a fool in paradise]

Maybe he should go to Russia and get his picture taken with this new monument.

[TribalPrincess2U]

Yeah, I’m laughing my azz off. Big 0 supporters?

[vetvetdoug]

McCartney got an ax kickin’ from a one legged gold digger...moreso than the economic downturn.

[vetvetdoug]

Did McCartney or his money get the splinters?