The news this week featured a squabble between singer Taylor Swift and Apple over Apple’s plan to allow users to listen to Swift’s music without paying her. Swift took Apple to task and they blinked. Not only is she adored by millions of fans, but many other also no respect her for her business sense.
Rockers it seems are very protective of their hard-earned money. A recent article in our local paper by economics professor Ralph R. Reiland highlighted this issue. Reiland recounted the many efforts by old school rockers to protest high taxes and uproot themselves and move to other countries to avoid oppressive tax burdens. Here are a few quotes to entice you to read the entire article which is linked above in blue.
“Economist Mick Jagger, rock star and former student of finance and accounting at the London School of Economics, moved to the south of France in 1971 to escape the 90-percent-plus income tax rates in Britain.”
“Harrison said he wrote “Taxman” when he “first realized that even though we had started earning money, we were actually giving most of it away in taxes.”
“Stewart [Rod] explained why he was moving: “They don’t seem to understand. You only get one bite of the apple. I can’t be doing this for the rest of my life. You do an apprenticeship for seven or eight years and then you earn a lot of money in one year and they want to take 90 percent away — 98 percent!”