In 1992, Congress passed the Audio Home Recording Act34 ("AHRA"), an amendment to the federal copyright law. ... The AHRA also provides for a royalty tax of up to $8 per new digital recording machine and 3 percent of the price of all digital audiotapes or discs. This tax is paid by the manufacturers of digital media devices and distributed to the copyright owners whose music is presumably being copied.
"... Why am I offering this entirely unsolicited advice about money to new writers? Because it very often appears to me that regardless of how smart and clever and interesting and fun my fellow writers are on every other imaginable subject, when it comes to money — and specifically their own money — writers have as much sense as chimps on crack. It’s not just writers — all creative people seem to have the “incredibly stupid with money” gene set for maximum expression — but since most of creative people I know are writers, they’re the nexus of money stupidity I have the most experience with. It makes me sad and also embarrasses the crap out of me; people as smart as writers are ought to know better. ..."
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