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The Beatles vs. the Taxman


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#1    OverSword

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Posted 25 March 2013 - 10:06 PM

And people think taxes are outrageous now, check this out from the artilce:

The top rate for British taxpayers in the mid-1960s reached 83 percent. The wealthiest among them paid a 15 percent super-tax on top of that, pushing taxes as high as 98 percent. The pain came out in the band's music. George Harrison opened his 1966 song "Taxman":
Let me tell you how it will be.
That’s one for you, 19 for me...
Should 5 percent appear too small,
Be thankful I don’t take it all.

As Lennon and McCartney racked up hits with their compositions in 1963 and 1964 -- "Please Please Me," "From Me to You," "I Want to Hold Your Hand," "She Loves You," to name a few -- and money started pouring in, it became clear that the songwriting profits would be siphoned away to the U.K.’s treasury if something wasn't done.

Can you believe that??????? 98% tax rate if you made too much, 83% if you didn't??  Thats out of control.


Cool article and there is alot more to it than the part I posted so give it read! :tu:

http://www.bloomberg...yesterday-.html


#2    Ashotep

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Posted 25 March 2013 - 11:13 PM

Really high taxes.  Today if the rich have to pay the same rate as someone making $30,000 a year they think its highway robbery.





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