March 27th, 2016
(written by lawrence krubner, however indented passages are often quotes). You can contact lawrence at: email@example.com
I’m coming back to writing lately, after 20 years, and I find that self-expression means very little to me now, whereas making money does, so I am much more interested in writing things that other people will find entertaining. So I can relate to this bit about Churchill’s writing:
In fact Churchill resigned from the Conservative front bench in the 1930s so he could earn more money as a writer and to some extent make up for these losses; that was one reason why he developed such a vivid writing style. He ended up borrowing about $3.75 million in current dollars. And there is this:
…during the decade, he gambled heavily enough on his holidays to lose an average of £40,000 each year in today’s money.
I enjoyed this sentence from the book:
Churchill was conscious that as chancellor of the exchequer his financial habits would have to change.
After the war, when taxes on income reached an eye-watering 97.5 per cent, Churchill rarely considered any business proposition unless his advisers assured him that he could present it to the Inland Revenue as a capital receipt, which would escape tax, rather than as income.
During the war, Churchill in fact challenged tax rulings from Inland Revenue on his various filings, and typically the rulings were in his favor. Over time, Inland Revenue stopped bothering his claims and assessments. Churchill had ongoing skirmishes with the tax collectors for over forty years and, believe it or not, he won most of them.