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More Moyo, Less Bono

Steyn on Bono’s tax sheltering:

It’s Bono’s money, not theirs. And who’s to say, even if he did give it to the government, that they’d stick it in the mail to some Afro-Marxist kleptocrat as opposed to squandering it closer to home? I’m with the U2 lads on this: I think the caterwauling rockers know better how to spend their dough than the state does.

On Africa:

in 1950, what was then the Belgian Congo had a higher GDP per capita than either China or India. But today it’s literally the last place in the world you’d want to start a business. Well, okay, a big chunk of the Congo’s been a war-torn hellhole for the last decade. So what about, say, Guinea-Bissau? Starting a business there requires overcoming 17 government hurdles, takes 233 days and costs 257.7 per cent of income per capita. Which is why Bono can’t put his money where his mouth is.

On the “aristorockracy”:

I love elderly rock stars—not for their “music,” which is mostly ghastly, but for their business acumen, which totally rocks. Sir Paul McCartney owns the publishing rights to Guys & Dolls. David Bowie was the first pop singer to hold a bond offering in his back catalogue and had $55 million worth of Bowie “Class A royalty-backed notes” snapped up in nothing flat after Moody’s gave them their much coveted triple-A rating. Madonna cleans up with a book of nude photographs featuring such unsettling sights as her naked bottom propped up like a novelty bike rest, and then decides to relaunch her literary career with some improving children’s stories, but, either way, is savvy enough to headquarter her business interests in the United States and United Kingdom.

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