A Rolling Stone Hates High Taxes

A Rolling Stone Hates High Taxes

Share this

My favorite blogging economist, Greg Mankiw, alerts us to a blog post by Matthew Kahn about the disincentive effect of high taxes in A Rolling Stone Gathers no Moss:

The Stones are famously tax-averse. I broach the subject with Keith [Richards] in Camp X-Ray, as he calls his backstage lair.

There is incense in the air and Ronnie Wood drifts in and out–it is, in other words, a perfect venue for such a discussion.

“The whole business thing is predicated a lot on the tax laws,” says Keith, Marlboro in one hand, vodka and juice in the other. “It’s why we rehearse in Canada and not in the U.S. A lot of our astute moves have been basically keeping up with tax laws, where to go, where not to put it. Whether to sit on it or not. We left England because we’d be paying 98 cents on the dollar. We left, and they lost out. No taxes at all. I don’t want to screw anybody out of anything, least of all the governments that I work with. We put 30% in holding until we sort it out.”

No wonder Keith chooses to live not in London, or even New York City, but in Weston, Conn.

About Peter Pappas

Peter is a tax attorney and certified public acccountant with over 20 years experience helping taxpayers resolve their IRS and state tax problems.

He has represented thousands of taxpayers who have been experiencing difficulty dealing with the Internal Revenue Service or State tax officials.

He is a member of the American Association of Attorney-Certified Public Accountants, the Florida Bar Association and The Florida Institute of Certified Public Accountants and is admitted to practice before the United States Tax Court, the United States Supreme Court, U.S. District Courts - Middle District of Florida

Did you enjoy this article?

Subscribe by e-mail and get notified whenever new ones are published.