John Lennon wrote a beautiful song about socialism. “Imagine no possessions” he told us. He also: – helped write his band’s anti-tax anthem, Taxman – incorporated his IP holdings – moved to a lower-tax country – fiercely protected his royalties - drove two Rolls Royce’s and had multiple luxury homes. – made sure even the royalty cheques for Imagine were kept safe for his estate so his family would remain wealthy in perpetuity. If he believed it, he’d have lived it. The trouble with socialism is that even the people who love the idea won’t run the experiment on themselves. John Lennon writing Imagine while owning two Rolls Royce Phantoms and later having a law suit to protect his royalties tells you all you need to know about socialism in practice. It doesn’t work outside of the imagination.