Bono, the famous lead singer for the rock band U—2, may practice a misguided form of economics with his renowned world aid program but at least his business management understands the subject.  U2 has reacted to a repeal of an Irish tax break on royalties by moving its publishing company to the Netherlands.  The Netherlands tax is half the Irish tax rate on royalties.  Some consider it hypocritical that he would avoid paying taxes while preaching that his country increase its foreign aid (largely to African countries) and absolve the debt of poor countries. I do not see it that way.  I consider this move a step in the right direction. What Bono now has to recognize is that all people have personal property rights in their labor (including 3 minute love songs) that should be respected by governments.  Increased taxes either cause people to reduce their efforts to increase income or to migrate for better opportunities elsewhere.  Bono should also...(Read Full Post)