jurasic1968 wrote:He enjoyed the money a lot. He didn't refuse to do Harum Scarum, Frankie and Johnny, Stay Away Joe, Clambake, Double Trouble, Easy Come, Easy Go, Charro, just to name a few of his worst films. He took big money and did it again, he agreed in one way or the other to Parker's policy.
Elvis didn't enjoy making those films but did them because of how Parker was able to control the situation... we signed a contract... no say on the scripts etc.
Why Elvis agreed to sign any contract without script approval after Kissin' Cousins, is difficult to imagine...
Thanks once again, Greystoke.To me maybe the most Elvis' disappointing role was in Charro. No singing, all right. But his acting was bad, he was bored and he was so stiff, wooden in many scenes. He failed to play a convincing role, in this movie, in my opinion.
jurasic1968 wrote:He enjoyed the money a lot. He didn't refuse to do Harum Scarum, Frankie and Johnny, Stay Away Joe, Clambake, Double Trouble, Easy Come, Easy Go, Charro, just to name a few of his worst films. He took big money and did it again, he agreed in one way or the other to Parker's policy.
One thing needs to be considered. There was no "legacy" for a RnR singer in those days. Elvis was the first mega star. Nobody knew what RnR would become . I'm sure Elvis saw music as a job and you go where the money is.He was making millions and enjoying life. He wasn't thinking "What will people think of my career 50 years from now"
During the sixties, Elvis’s income certainly peaked with the $5.5 million he earned in 1965. Compare this to the $1.667 million he earned in 1961 and the $2.441 million he earned in 1969. He also earned a tremendous amount of money in 1966, 1967 and 1968, with an income of $3.144 million, $3.517 million and $3.482 million earned during each respective year.
Without a resurgence in his acting career (or a great offer such as A Star is Born) Elvis was unlikely to find comparable salaries in Hollywood during the 1970s, but came to earn more on an annual basis from concerts in Las Vegas and around North America. This, in addition to his contract with RCA, album deals instigated by Tom Parker and various residuals from movies, etc. He earned $8.2 million in 1973, $7.2 million in 1974, and according to Todd Slaughter, $12 million in 1976.
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Again, during the 60's,(and I believe actually through Elvis' entire life) the income tax rate was 90% on anything over $1million. Still a lot of money,but nowhere near as much as it seems.
During the sixties, Elvis’s income certainly peaked with the $5.5 million he earned in 1965. Compare this to the $1.667 million he earned in 1961 and the $2.441 million he earned in 1969. He also earned a tremendous amount of money in 1966, 1967 and 1968, with an income of $3.144 million, $3.517 million and $3.482 million earned during each respective year.
Without a resurgence in his acting career (or a great offer such as A Star is Born) Elvis was unlikely to find comparable salaries in Hollywood during the 1970s, but came to earn more on an annual basis from concerts in Las Vegas and around North America. This, in addition to his contract with RCA, album deals instigated by Tom Parker and various residuals from movies, etc. He earned $8.2 million in 1973, $7.2 million in 1974, and according to Todd Slaughter, $12 million in 1976.
!
Again, during the 60's,(and I believe actually through Elvis' entire life) the income tax rate was 90% on anything over $1million. Still a lot of money,but nowhere near as much as it seems.
That was up to Elvis and his financial advisers to manage accordingly. Elvis wasn't alone in the kind of money he made during the 1960s. But his finances must have been well managed, considering that he didn't fall into debt with the IRS and remained solvent. Unlike many other actors over the years. For example, Elvis was paid a million dollars for Harum Scarum but got this in installments -- $750,000 + the other $250,000 in weekly installments over five years ($1,000 per week). Which was done to avoid paying the highest rate of tax on his salary from that movie.
Actually that was a financially bad move. It may have saved Elvis from his money wasting self, but purely from a financial standpoint it was downright dumb.I actually learned something from looking into this. The top tax rate in 1965 had dropped from 91% to 70% under a bill signed by LBJ. You had to pay the top rate on anything over $200K. He should've taken that $250K in cash and invested it. In the 5 years it took him to get his money a grand a week at a time he could've nearly doubled it.Since he was going to earn over $250K in each of the next 5 years anyway, he was going to pay the top rate on that $1000 a week anyway. He basically gave the movie company a 5 year interest free loan. Now it's possible the contract was negotiated before the bill reducing the tax rate was signed or even known about, but even then it made no sense, Elvis was always going to make over a million every year anyway, so delaying that $250K payoff was worthless, and in fact cost him money.
With ANY financial smarts at all, Elvis should've been rich beyond anyone's dreams.
During the sixties, Elvis’s income certainly peaked with the $5.5 million he earned in 1965. Compare this to the $1.667 million he earned in 1961 and the $2.441 million he earned in 1969. He also earned a tremendous amount of money in 1966, 1967 and 1968, with an income of $3.144 million, $3.517 million and $3.482 million earned during each respective year.
Without a resurgence in his acting career (or a great offer such as A Star is Born) Elvis was unlikely to find comparable salaries in Hollywood during the 1970s, but came to earn more on an annual basis from concerts in Las Vegas and around North America. This, in addition to his contract with RCA, album deals instigated by Tom Parker and various residuals from movies, etc. He earned $8.2 million in 1973, $7.2 million in 1974, and according to Todd Slaughter, $12 million in 1976.
!
Again, during the 60's,(and I believe actually through Elvis' entire life) the income tax rate was 90% on anything over $1million. Still a lot of money,but nowhere near as much as it seems.
That was up to Elvis and his financial advisers to manage accordingly. Elvis wasn't alone in the kind of money he made during the 1960s. But his finances must have been well managed, considering that he didn't fall into debt with the IRS and remained solvent. Unlike many other actors over the years. For example, Elvis was paid a million dollars for Harum Scarum but got this in installments -- $750,000 + the other $250,000 in weekly installments over five years ($1,000 per week). Which was done to avoid paying the highest rate of tax on his salary from that movie.
Actually that was a financially bad move. It may have saved Elvis from his money wasting self, but purely from a financial standpoint it was downright dumb.I actually learned something from looking into this. The top tax rate in 1965 had dropped from 91% to 70% under a bill signed by LBJ. You had to pay the top rate on anything over $200K. He should've taken that $250K in cash and invested it. In the 5 years it took him to get his money a grand a week at a time he could've nearly doubled it.Since he was going to earn over $250K in each of the next 5 years anyway, he was going to pay the top rate on that $1000 a week anyway. He basically gave the movie company a 5 year interest free loan. Now it's possible the contract was negotiated before the bill reducing the tax rate was signed or even known about, but even then it made no sense, Elvis was always going to make over a million every year anyway, so delaying that $250K payoff was worthless, and in fact cost him money.
With ANY financial smarts at all, Elvis should've been rich beyond anyone's dreams.
The contract that resulted in Harum Scarum being made was signed in December 1964.
Now it's possible the contract was negotiated before the bill reducing the tax rate was signed or even known about, but even then it made no sense, Elvis was always going to make over a million every year anyway, so delaying that $250K payoff was worthless, and in fact cost him money.
With ANY financial smarts at all, Elvis should've been rich beyond anyone's dreams.
