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Quotation of the Day…

… is from page 789 of Leo Strine’s excellent 2015 Wake Forest Law Review article, “The Dangers of Denial: The Need for a Clear-Eyed Understanding of the Power and Accountability Structure Established by the Delaware General Corporation Law“:

After all, Bono, a hero of the left, is the leader of the world’s most famous Dutch rock band, having incorporated U2 in the Netherlands in order to escape paying higher taxes to his homeland, Ireland.

DBx: Some academics these days – also heroes of the left – bizarrely endorse the practice of analyzing the effects of taxes by assuming away behavioral responses such as those made by Bono and his bandmates. Tyler Cowen is among those who sensibly aren’t buying it.