Saverin of FACEBOOK renounces US citizenship to avoid TAXES
puremagic
Posts: 1,907
That's right, FACEBOOK, CEO, Eduardo Saverin gave up his US citizenship to avoid paying capital gain taxes, he's now a citizen of Malasia living in Singapore.
http://www.washingtonpost.com/business/ ... story.html
http://www.washingtonpost.com/business/ ... story.html
SIN EATERS--We take the moral excrement we find in this equation and we bury it down deep inside of us so that the rest of our case can stay pure. That is the job. We are morally indefensible and absolutely necessary.
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...are those who've helped us.
Right 'round the corner could be bigger than ourselves.
"Well, you tell him that I don't talk to suckas."
huh?
It is terrifying when you are too stupid to know who is dumb
- Joe Rogan
Tax the rich! Let Singapore have them. :fp:
I'm sure this guy won't start or foster any other companies. :think:
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California
I'm sure he has visas/passports/whatever aplenty that will give him all the physical access he needs to the US legally.
I'm surprised he'd give up his home and citizenship just for money. :geek:
...are those who've helped us.
Right 'round the corner could be bigger than ourselves.
I didn't know that.
If that's the case, then it isn't surprising he'd do this. :geek:
I'm guessing this logic only applies to those rich enough to wait for legal access to the destination country.
Personally, I'm glad there are people who would rather try to change situations they're 'against', rather than run from them and let someone else deal with it. Isn't that what patriotism should be all about?
What "change of heart" are you talking about?
I have ALWAYS said that I think our borders should be wide open and we should allow anyone willing to come here to better their situation easy, uncomplicated access and citizenship.
Don't assume that, because I have some strong conservative views on SOME issues, that I automatically want to keep and kick so-called "illegals" out of this country?
...are those who've helped us.
Right 'round the corner could be bigger than ourselves.
My mistake, sorry man. Glad to hear I was wrong.
No worries.
I think countries should be welcoming and make themselves as attractive as they can to immigration. To some degree, I also think of the concept of a country or nationality as a bit outdated.
To me, it's more that there are geographic regions that have different governing laws and conditions. We should be able to relatively easily go to live where we wish and where the ideology and laws most closely match what we desire.
I applaud Saverin's example and it's also why I'm supportive when companies or businesses want to move jobs to places more favorable to them. You can't make things rough on people or business and just expect they'll stay where they are out of some blind loyalty or patriotism.
...are those who've helped us.
Right 'round the corner could be bigger than ourselves.
Senators to Unveil the 'Ex-Patriot Act' to Respond to Facebook's Saverin's Tax 'Scheme'
http://news.yahoo.com/senators-unveil-e ... itics.html
Sen. Chuck Schumer, D-N.Y., has a status update for Facebook co-founder Eduardo Saverin: Stop attempting to dodge your taxes by renouncing your U.S. citizenship or never come to back to the U.S. again.
In September 2011, Saverinrelinquished his U.S. citizenship before the company announced its planned initial public offering of stock, which will debut this week. The move was likely a financial one, as he owns an estimated 4 percent of Facebook and stands to make $4 billion when the company goes public. Saverin would reap the benefit of tax savings by becoming a permanent resident of Singapore, which levies no capital gains taxes.
At a news conference this morning, Sens. Schumer and Bob Casey, D-Pa., will unveil the "Ex-PATRIOT" - "Expatriation Prevention by Abolishing Tax-Related Incentives for Offshore Tenancy" - Act to respond directly to Saverin's move, which they dub a "scheme" that would "help him duck up to $67 million in taxes."
The senators will call Saverin's move an "outrage" and will outline their plan to re-impose taxes on expatriates like Saverin even after they flee the United States and take up residence in a foreign country. Their proposal would also impose a mandatory 30 percent tax on the capital gains of anybody who renounces their U.S. citizenship.
The plan would bar individuals like Saverin from ever reentering the United States again.
"Eduardo recently found it more practical to become a resident of Singapore since he plans to live there for an indefinite period of time," Tom Goodman, Saverin's spokesman, told Bloomberg News in an email.
Last year 1,700 people renounced their U.S. citizenship.
"Well, you tell him that I don't talk to suckas."
"Well, you tell him that I don't talk to suckas."
amen. That's why there are so few rich people in the US......
why don't they just tax everyone in the world for not coming here and spending money...how about we tax everyone that reads a book that takes place in the US...don't like people getting around your dumb ass tax laws...you can always make another one...I love our government...
It is terrifying when you are too stupid to know who is dumb
- Joe Rogan