A Rolling Stone gathers . . .

Discussion in 'Celebrity and Entertainment News' started by Floh, Aug 5, 2006.

  1. Floh

    Floh Former Member

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    A Rolling Stone gathers virtually no taxes:

    The Rolling Stones have paid just 1.6 per cent tax on their earnings of £242million over the past 20 years, it has emerged.
    Documents published in Holland show that Sir Mick Jagger, Charlie Watts and Keith Richards used offshore trusts and companies to ensure tax breaks.
    Of the fortune they have accumulated since 1986 for royalties, they have paid just £3.9 million in taxes.


    More here: http://www.dailymail.co.uk/pages/li...ews.html?in_article_id=398648&in_page_id=1773

    Having once attended The London School of Economics appears to have paid off for Mick Jagger and his merry band.

    and as for sorting out their wills, Kieth Richard's fall from a coconut tree this year followed by brain surgery must have spurred them all on to the realisation they do, in fact have mortality.

    hmm, Holland is just down the road from me . . . :waitasec:

    but unfortunately i don't belong to a big band like U.2. (who have followed th Stones' lead) so it's definitely not worth my investigating how to reduce my taxes.

    altho some in the world may be spitting blood at their astute financial management, what they've done is legal and above board. well done clever them. :)
     
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  3. JBean

    JBean Retired WS Administrator

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    Those offshore trusts are not standing up to our IRS audits, so they are not a good way to go IMO. I think a lot of people that did use them are going to be really sad when the tax man comes to the door.
     
  4. shopper

    shopper New Member

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    I know some people will disagree but I say good for them.
     
  5. bykerladi

    bykerladi Member

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    If other people didn't have to carry their tax burden, I'd agree "good for them". But unfortunately, since the government is out all that money from the taxes other lower income people have to pay more to cover that loss.
     
  6. Floh

    Floh Former Member

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    What loss?

    what they are doing is legal.

    investigate big business and note what they do.

    and i believe many of the big government players make sure they work their taxes too.

    maybe this post should be in the political forum? :doh:
     
  7. Anngelique

    Anngelique New Member

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    I personally would love to see a flat sales tax. That way no one has to file taxes, you don't have to worry about loop holes, EVERYONE pays a fair share including people in illegal businesses such as drugs and prostitution. Our tax burdens would be much less but the government would get so much more. Something like a 2% tax on all goods bought excluding food. It would be fair because the poor wouldn't have to pay much at all, the rich would be paying a much larger share because they buy more... but it's all up to you on how much you buy. I think this is fair and we should do away with the IRS. Just food for thought.
     
  8. Dark Knight

    Dark Knight New Member

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    That sounds way too simple, lol.
     
  9. Anngelique

    Anngelique New Member

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    It does because it is. They have proof how well this system would work but their are too many parties that want to stay in control of the IRS and tax breaks, etc. I just wish this would come to pass. There'd be no sweating in April, no people going to jail for tax evasion and EVERYONE, I mean EVERYONE would the same percentage.
     

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