Bono Talks Like a Socialist But Acts Like a Libertarian
by Joe?Pulcinella
DUBLIN Bono, the rock star and campaigner against third-world debt, is asking the Irish government to contribute more to Africa. At the same time, he is reducing tax payments that could help finance that aid.
After Ireland said it would scrap a break that lets musicians and artists avoid paying taxes on royalties, Bono and his fellow U2 band members this year moved their music publishing company to the Netherlands. The group, which Forbes estimates earned $110 million in 2005, will pay about a 5 percent tax on their royalties in the Netherlands, less than half the Irish rate.