Glenn Beck: Common Sense - Jacko
June 29, 2009 - 11:52 ET
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VOICE: And now another scenario in which common sense was clearly not applied.
GLENN: I think, I think common sense has been lost on this Michael Jackson story, and the news media looks at it and they are making a deal, look, he sold 750 million albums worldwide, blah, blah‑blah, blah‑blah. That's enough money to fill the Grand Canyon with Jesus juice, I think, and I'm pretty sure there's enough money to cover all the lawsuits stemming from the post‑Jesus juice activities. But where did the money go? They are talking about the Beatles records, et cetera, et cetera. You know, he had the Beatles library. I actually found a way to make this, this Michael ‑‑ all you have to do is spend 10 minutes of work. You can make the Michael Jackson story relevant to your life. How? Michael Jackson owned the rights to the Beatles song, right? All of the Beatles song, the whole category, the whole catalog they bought ‑‑ they sold it; Michael Jackson bought it. It's mostly true. He paid $47.5 million for the publishing rights to most of the Beatles catalog, but there are tons of qualifiers on this one. You can read the full story in my e‑mail newsletter today. It's coming up later today. Just sig n up for it at GlennBeck.com. But basically there's not much Jackson could do with the songs, but it was a good revenue generator for him. The common sense part of the story here is that, why did Michael Jackson own those songs? Why did Paul McCartney and the Beatles, why did they sell those songs? You ready for this? Because the Beatles were being taxed nearly 90% on the income from their royalties. So they were advised to find a way to receive their revenue in the form of capital gains rather than revenue. So after all the hurdles the government forced them to jump through, they ended up with the one‑glove guy making money off of all of their work because they couldn't afford to hold onto their own work. That is so weird. It's almost like Paul McCartney and Yoko Ono didn't like paying taxes. That's ‑‑ really? Are they unpatriotic? Why do they hate police and firefighters so much? Don't they want children to have healthcare? Do they hate teachers? Why do the Beatles want bridges to collapse!
VOICE: Next time try applying some common sense directly to the forehead and if that fails to solve the problem, read Glenn Beck's new book Common Sense: The Case Against an Out‑of‑Control Government. Get the details at GlennBeck.com.
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