The year 2009 is putting all sorts of Grade F Models on blast for their poor spending habits. The newest addition to the pool would be rapper DMX. He currently owes the state of New York $1.5 million in back taxes, as reported by All Hiphop. Do hardly wealthy people perceive taxes to be optional? We’re starting to think so as this action has been repeated ten fold this year. However, DMX is no follower. He’s been an exemplary model of being irresponsible for years now.
DMX has had his fair share of negative press over the past few years. As with most musical artists who experience popularity for a moment, he let it go to his head and spent money excessively. If you couple that with a dangerous life of doing drugs and going to jail, it doesn’t take a genius to figure out that their days with money are numbered.
Nevertheless, we have to tell our fellow DMX like it is:
Dear DMX,
You need to downgrade your lifestyle. Sounds like you’re living in a home where you can’t fork out the bill. Taxes aren’t optional, buddy. Time to put your home on the market and move on to a more reasonably priced one. Actually, now that we think about it, you might want to go back to renting, my friend. It wouldn’t help to educate yourself on finance management. You need to invest in an accountant and consultant to guide you in your spending and investments. You clearly can’t manage finances on your own. So, do try and get it together. You’re almost forty years old. How embarrassing! Love,Minority Fortune |
Go get some help. You’ve got a lot of issues. Money is one of them, but it’s far from the only one. You need to take some serious time for yourself and go sort out your issues. You’ll never be financially solvent if drugs and illegal activities are going on.*Image courtesy of Bob4o and AJ Supreme.
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{ 4 comments }
How’s DMX’s overrall finances? Generally, if someone owes $1.5 mil in back taxes, that means he/she’s made $5 million gross to cover it no?
Nice comment on my Warren post btw!
FS
DMX has been out of the entertainment news for some time now. Shouldn’t these rap stars be getting residual income from their albums? Looks like it’s time to hang up the “Bad Boy” coat and write a book DMX. Really, just a shame.
DMX has grossed millions from his previous work. The problem is that he has a terrible financial management. On top of that, he has a nasty drug addiction. He’s been struggling financially for some time now. He was reported as having financial troubles since early 2008. It seems to be getting worse as he’s in over his head.
Yes, DMX is getting a royalty check for his work. However, these artists usually get robbed by these record companies and only get a small percentage from their work. It’s not enough to sustain an extravagant lifestyle. He probably gets the most of his money by doing shows, but it’s hard to keep a career going when you’re battling a drug addiction. It’s sad, sad stuff. We wish these artists would get coached before they signed on the dotted line.
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