Rock Stars, Money, and Africa

Lots of interesting stuff on the Live8 concert on the blogsophere. Eric Berlin sent me off in this direction, where, in addition to reading about African aid, I stumbled on some interesting factoids about Sir Paul - more specifically the late Linda McCartney. This interests me as a Beatles fan, and former lawyer.

Seven years ago, you'll recall, Sir Paul's wife died of cancer. Linda McCartney had been a resident of the United Kingdom for three decades but her Manhattan tax lawyers, Winthrop Stimson Putnam & Roberts, devoted considerable energy in her final months to establishing her right to have her estate probated in New York state.

That way she could set up a "qualified domestic marital trust" that would... Yeah, yeah, yeah, in the immortal words of Lennon and/or McCartney. Big deal, you say. We're into world peace and saving the planet and feeding Africa. What difference does it make which jurisdiction some squaresville suit files the boring paperwork in?

Okay, I'll cut to the chase. By filing for probate in New York rather than the United Kingdom, Linda McCartney avoided the 40 per cent death duties levied by Her Majesty's Government. That way, her family gets all 100 per cent - and 100 per cent of Linda McCartney's estate isn't to be sneezed at.

It's an interesting piece on African-aid, capitalism, and rock stars. It ends with this:

Once upon a time, rock stars weren't rated by Moody, they were moody - they self-destructed, they choked to death in their own vomit, they hoped to die before they got old. Instead, judging from Sir Pete Townshend on Saturday, they got older than anyone's ever been. Today, Paul McCartney is a businessman: he owns the publishing rights to Annie and Guys & Dolls. These faux revolutionaries are capitalists red in tooth and claw.

The system that enriched them could enrich Africa. But capitalism's the one cause the poseurs never speak up for. The rockers demand we give our fokkin' money to African dictators to manage, while they give their fokkin' money to Winthrop Stimson Putnam & Roberts to manage. Which of those models makes more sense?