Another big multinational seeks a tax haven
October 19th, 2006Dave Downing comments on it here.
U2! I don’t blame them. I would, too, if I had anything worth moving to a tax haven. After all…
The legal right of a taxpayer to decrease the amount of what otherwise would be his taxes, or altogether avoid them, by means which the law permits, cannot be doubted.
U.S. Supreme Court Justice Sutherland, 1965
I think Bono is a sincere man with a passion to make things better. Look at PRODUCT(RED). A very cool idea. But it’s a different take on things; using the capitalist system as opposed to forcing donations through a government-based system. I hope it works well. Get your (RED) iPod here. :)
I like capitalism because it accounts for Man’s nature. We like to have things for ourselves. It’s not that “greed is good” (per the movie Wall Street) but that self-interest is reliable. U2 isn’t being greedy by seeking a tax haven. They are just acting in their own best interest.