Tax Savvy Rock Stars

From ABC News:

Feb. 14, 2007 — - U2, the Rolling Stones, movie stars, sports figures and a host of corporations have turned to an unlikely accountant, the Netherlands, to help them avoid paying taxes on multimillion dollar profits in their home countries.

Bands like the Rolling Stones and U2 were publicly outed last summer for using tax shelters in the Netherlands to protect the millions they earn on royalties from getting taxed in their respective home countries.

They are part of a growing number of celebrities who've turned to the low-tax, politically stable Netherlands to protect royalties they earn legally from licensing intellectual property -- from J.Lo's derriere to U2's hit song "One"....

We welcome Mr. Jagger, Bono, and the rest of them to the supply-side movement.