never said it wasnt legal. and if an american born here wants to leave i have no problem. it just leaves a sour taste that a foreign born person comes here gets educated takes advantage of our system, wins big, then leaves just to save on taxes. who here thinks he would have paid anything at all if not forced to by the exit tax rules that are so vocally bashed on et?
He "could" have not paid any income tax, but, in fact, since he is already on record as having sold $250 million in Facebook equity, including already paying the taxes on it, since those sales were prior to his renunciation of citizenship, he didn't, although I guess you could say that technically he paid capital gains taxes because we don't have a complete picture of what he claimed as income. Are you disputing these facts? It wouldn't surprise me if you did, I'd just think that it would enable others to see the caliber of argument you are bringing to bear here, i.e. a fact-free argument based solely on your subjective preferences. So, not only has he paid, but at the cap gains rate on $250 million, he's probably paid for 50 lifetimes of the services he actually consumed. Stop rationalizing the fact that you want to get your grubby little hands on the guy's wealth. At least admit that your motivation has jack to do with "logic" and everything to do with wanting something for nothing. I say Godspeed to the dude and that I only wish it were me.
We've had some disagreements before in a thread... but I'm 100% with you with regards to these uber-patriotic retards who don't seem to get it. Embarrassing really.
This is an individual... you are looking at pennies on the road... look at the schemes of BP and the foreign / Multi nationals who essentially bribe our politicians for special laws and privileges and are doing the same as him on a daily basis on a much larger scale with seriously unfavorable terms for our country. Take a look at SAIC/GM... $6000 tax subsidy for chinese made gm cars sold in china... AIG's japanese subsidiaries and our tax dollars paying out japanese insurance claims. There is a fundamental problem... Not with what this guy is doing but the much larger schemes played by foreign influence.
"As for the sanity of people who think the eehvul gov't is going to seize everything, I leave that for the reader to decide." time will tell. before it happens one should have an exit plan. by the way for you americans, you will be unlikely to open an oversea account. it is not because the US government forbids it but no foreign bank will open one because of US reporting regulations. http://www.bloomberg.com/news/2012-...s-told-go-away-as-tax-evasion-rule-looms.html
Add dual citizenship is no longer a workaround... Specifically US citizenship and FATCA shuts the doors worldwide for US citizens to participate in world markets. It's similar to the online gambling ban that locked us citizens from participating in sports betting outside of the US.
http://news.yahoo.com/senators-unve...ks-saverins-110209401--abc-news-politics.html looks like our politicians are looking to make an example out of him and stoke fear in others from renouncing us citizenship. 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.
Holy crap. Just when I think politicians can't get any dumber, they manage to lower the bar down into the hot magma core of the earth. So not only does the U.S. remain the only developed nation in the world besides North Korea which taxes its citizens who live abroad, now these two idiots want to introduce clawbacks on those who have already renounced citizenship and assume what that person's intentions were for expatriating, proof be damned. And our march toward the Police States of America continues unabated.
This is probably unconstitutional as it smacks of being a bill of attainder. It isn't a crime to renounce your U.S. citizenship, yet that's how this "law" would treat such an action. In fact, I'd argue the same about the current exit tax, but it's already on the books and, as far as I know, hasn't been challenged as such. That these two scumbags and the other scumbags who sign on to it would try to impose such a burden on productive people who've had their fill of the Schumers and Caseys of the world is no surprise, though. I'd expect nothing less from these scum. Gotta keep buying the votes with other people's money.