I can’t believe FReepers are annoyed with a guy wanting to avoid paying 42% tax on his royalties. Especially when he still pays tax in Ireland and several other countries on his real estate, clothing line, equity investments, restaurants, production companies, etc.
It’s not like he’s going around asking governments to raise our taxes.
The issue isn’t that Bono wants to pay lower taxes on his income...the issue is that he’s seeking to do so while, at the same time, trying to dip his hands in pockets of American taxpayers — the vast majority of whom make far less money than he does.
Do you find it acceptable that a tax-sheltering showbiz foreigner thinks he’s entitled to have a voice in how our tax money is spent?
Both Ireland and the Netherlands Antilles are great tax dodges. They have low witholding rates from other OECD countries. In fact Bono is probably paying only +/- 20% on royalty income from the UK, US, etc. That's it.
It is therefore hypocritical for him to lecture developing countries on their supposed moral obligations while he has finagled a tax rate less than half of what all of us pay.