Again we glance back at the past to view the present……….this time Motown and the Temptations bring the message from April 1970.
Warning….The Youtube video linked to this post may show some disturbing pictures….it’s hard to tell because it moves pretty fast. Viewer discretion is advised…. but enjoy the music!
When this song was originally released, the Vietnam War was in full swing, a few months earlier Neil Armstrong walked on the moon, the Beatles were breaking up, and the Kent State shootings were just days away. (by the way, did you know Nick Saban, legendary football coach of the Alabama Crimson Tide, was on campus as a student at Kent State on that fateful day?)
Anyway, our financial nugget comes from a line about halfway through the song, “politicians say more taxes will solve everything…..and the band played on….”
In today’s world most politicians don’t talk much about raising taxes to solve our problems. The government just quietly prints more money and all is well ……… or as the song says, “and the band played on.”
In fact, many people don’t even think about taxes anymore….. unless you are self-employed or own your own business ………… or if you’re a babyboomer trying to pull money out of your IRA or 401k. Ouch!
How long will the band keep playing?
This posting is part three of six in the financial series “6 Nuggets of Financial Wisdom Found in Classic Rock.”© Romans 1 Publishing 2015. Stay tuned for part four when we look to a very popular country song that everyone knows but it never hit the Billboard top forty.
If you missed the first two parts in this series, you can scroll down to these dates:
> August 29 with the 1971 song “I’d Love to Change the World” by the group Ten Years After …..where there are no more rich to feed the poor
> August 10 with George Harrison’s “Taxman” …….. The Beatles were being taxed at an unbelievable 95%.
post by Steven D. Cox, CPA (and classic rock enthusiast)
Founder of the online financial education series Bootstraps 101
p.s. See if you can find the picture of a young George Clooney in the video.