The Beatles vs. the Taxman

[+OverSword]

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!

http://www.bloomberg.com/news/2013-03-22/the-beatles-v-the-taxman-a-former-manager-recalls-yesterday-.html

[Ashotep]

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.