Friday, June 24, 2011

Taxes

Insty is reporting that U2's concerts now feature protesters demanding that Bono pay more taxes in an effort to help Ireland skirt bankruptcy.

If Ireland is spending 145% of what it takes in, then it's going to go broke. If it spends 145% of taxes less Bono's income, then it will owe less than if it spent 145% of taxes plus Bono's income, so Bono's tax avoidance actually reduced the amount of fiscal trouble Ireland's in.

The award for keeping money out of the hands of the irresponsible is a better personal standard of living.
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1 comment:

Brad K. said...

Perhaps U2 protesters could sign a pledge of involvement. You know, like, if they aren't earning an income, they won't talk about someone that is earning an income, and about the taxes they do or don't pay.

Whether someone pays taxes or not, if they earn money, they either invest it (i.e., create jobs that get taxed), or they spend it (i.e., spend money on products that get taxed as products, made by people that get taxed).

Question: How many jobs are created, outside government, by 100 people receiving welfare, vs. how many people are employed by U2 directly or indirectly, or by the average millionaire, directly or indirectly?

And which benefits an economy/generates more tax revenue -- jobs, or government spending? (Outside government, that is, since government jobs increase tax spending with diminished tax revenue collection.)

June 25, 2011 at 6:10 AM

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