Jimmy Barnes Quotes
When you get behind with the tax department, it's very difficult to catch up.
Barnes, Jimmy. Working Class Man. HarperCollins, 2017.
Ford had asked Iacocca, then the President and the number 2 executive to Ford, if he paid any income tax. Iacocca paid about 50 percent of his income as the maximum bracket at the time was over 70 percent. Ford wanted to help him out. At the time Ford earned millions of dollars every month. One of the things that this quote illustrates is that it would not have mattered with Ford whether the maximum tax rate was 30%, 50% or 70%. He and the other super-rich people were not going to pay much anyway because of the loopholes, the deductions, and gaming the system.
He turned out to be very wrong as there were a number of times in American history when there were tax rates in excess of 70 percent, and they were collected.
Jimmy Barnes is a Scottish-Australian singer, songwriter, and musician. His career both as a solo performer and as the lead vocalist with the rock band Cold Chisel has made him one of the most popular and best-selling Australian music artists of all time. The combination of 14 Australian Top 40 albums for Cold Chisel and 13 charting solo albums, including 17 No. 1s, gives Barnes the highest number of hit albums of any Australian or international artist in the Australian market.
