September 15, 2009
PoliticsDaily.com Cites Tax Foundation Blog Post on Taxes Breaking Up the Beatles
"Don't Blame Yoko - Taxes Killed the Beatles"
By Matt Lewis
For those interested in the intersection of politics and culture, a recent Times of London article, "The Beatles Were a Triumph of Capitalism," deserves a read. As the 40th anniversary of the Fab Four's break-up approaches, there's been plenty of reporting on how and why that occurred.
Lots of us remember the Beatles' anti-tax song, "Taxman" - inasmuch as it became the theme for Bob Dole's 1996 presidential campaign - but few are familiar with just how large a role taxes played in the demise of the most famous rock band in history. ...
As you might imagine, this report has made its way onto the blogs of conservative Web sites such as the Club for Growth and The Tax Foundation. As Joseph Henchman wrote at the Tax Policy Blog, "In 1970, the year that Paul McCartney struck out on his own, the top British income tax rate was 83 percent, before other taxes. I hope this helps answer Matthew Yglesias's question of what happens when we have punitive-level tax rates."
