Michelle Malkin noted that celebrities are “hiding” their money in the Netherlands. The ABC article, with the unintentionally funny paragraph calling Jennifer Lopez’s bottom “intellectual property” tells how bands such as U2 and the Rolling Stones are sheltering their licensing businesses in the Netherlands.
And the Dutch have beckoned by overhauling their tax structure this past year to make it easier and more lucrative for individuals and corporations to set up shell companies that allow income from royalties, interest and dividends to flow in and out of the country tax-free.
This is, of course, a good thing. One of my mottos is: There’s no such thing as a good tax hike, and there’s no such thing as a bad tax cut.
A corollary is that when anybody’s taxes go down, I benefit. When anybody’s taxes go up, I am injured. The only bad news in the article is that US residents need not apply. We don’t have the right treaty.
Figures.
Well, I hope it saves a lot of people a lot of money, for as many years as the Dutch are still Dutch.
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