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Eduardo Saverin
I am so happy to see that someone has finally done what conservative economists spent years warning us about. In the ever increasing "Global Society" rich americans will leave to protect themselves from agregious taxes. Cudos to you Mr. Saverin.
Facebook Co-founder leaves
If any of you don't know, he is the cofounder of Facebook.
Anyway, I'm a fan. Discuss.
I am increasingly persuaded that the earth belongs exclusively to the living and that one generation has no more right to bind another to it's laws and judgments than one independent nation has the right to command another.”
― Thomas Jefferson
My feedback
To everyone who feels like they are standing on Hadrian's wall as Rome crumbles behind them. - John Ringo
After all, Who is John Galt?
But,,but,,but,, He's not paying his fair share...
Cudos to the dude, I hope he's sitting there flipping off Schummer, while holding one off those umbrella drinks.
Sarcasm, Learn it, Know it, Live it....
Spleify 7-27-12Marlin is the end all be all of everything COAR-15...
Europeans have Monaco.
Others can just get a residency (green card) at some other country.
We are screwed. Even if we get a residency (green card) and live somewhere else, I believe we are not immune to US tax law.
Not a fan.
The guy renounced citizenship from the greatest country the world has ever known so he can save a percentage on an already vast wealth.
Fuck him. I hope the door hits him in the ass on the way out and whatever country he ends up in falls to barbarian raiders so he can fully understand what his taxes were paying for.
Are we over taxed? Yes. But that guy is a piece of #$&%.
Another reason he probably did it is , because he wanted to away from Mark Zuckerberg as far as he can.
Depends on the source of the income. If you live and work outside the US for more than a year with no US income then no you are not liable for US taxes as a citizen. But you would owe the new country. I find it humorous that this is his excuse when corps and the rich pay less as a % of their income than the rest of us. Oh and just because he is not a citizen does not remove him from coverage by the tax code he may actually owe more dependant in the treaty with the country he is now in.Originally Posted by MrPrena
The Hobo
Captain Stingy A-Hole chose Singapore. Zero capital gains tax. You can bet that tool is going to spend the maximum amount of time he can each year back here in the US, too.
Corporations pay a corporate income tax rate, the US' corporate tax rate is among the higher in the world. When corporations then pay that after-tax profit to their shareholders, the shareholders are then taxed at individual tax rates for that same profit. That means that the corporation's profit is taxed twice. The only exception to this is the Subchapter S corp, limited to small corporations with only a handful of shareholders, where the profit it taxed once, at individual rates.
"Rich" individuals do not pay less as a percentage of their income than "the rest of us". IRS data shows that quite clearly. Some number of "rich" may pay at a lower rate because their income is dominated by capital gains, which are taxed at a lower rate for two reasons: to encourage capital investment and the growth attendant, and because a capital gain - which must be from an investment held more than a year - is not inflation adjusted. The lower capital gains rates are available to anyone not just the "rich".
Yeah like BO.
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