U2 and Bono: Not a fan of high taxes

It looks like U2 lead singer Bono likes spending taxpayer dollars, but not paying taxes.

Some people in Ireland are criticizing U2 and Bono for avoiding taxes in Ireland by moving operations to neighboring countries, where tax rates are lower. The group is planning on staging a very visible protest at an upcoming show to bring attention to the band’s actions.

Personally, I don’t see anything wrong with U2′s actions. What some people forget is that besides being a band, U2 is a business. In order to maximize profits, you need to analyze your expenses and keep them down. Finding a place with a favorable tax climate makes perfect sense. The problems arise when you look at the band’s actions over the years and realize what hypocrites they are.

Bono has often lobbied politicians to spend more money (taxpayer’s money) in developing nations, and other various programs. Bono is a very generous guy when attempting to hand out other people’s money, and there lies the problem. When someone is eager to encourage public spending, but attempts to shield their own earnings, they lose credibility. In my opinion, Bono’s credibility is zero.