• Welcome to OGBoards 10.0, keep in mind that we will be making LOTS of changes to smooth out the experience here and make it as close as possible functionally to the old software, but feel free to drop suggestions or requests in the Tech Support subforum!

The "Ex-Patriot" Act

DEACisGO

DEACisGO

Steve Lepore
Joined
Mar 20, 2011
Messages
3,118
Reaction score
193
Location
ATLANTA
http://economy.money.cnn.com/2012/05/17/senators-to-saverin-dont-come-back-ever/


This is with regards to the Eduardo Saverin renouncing American citizenship presumably to avoid capital gains taxes from his Facebook shares. From the article:

The proposal says that if a wealthy American seeks to renounce their citizenship, it will be presumed they have done so for tax purposes, unless the individual can convince the IRS otherwise.

If the person is unable to convince the IRS, they will be subject to 30% capital gains tax on future U.S. investments no matter where they live. Furthermore, they will not be allowed back into the United States. "Period," Schumer said. "They could not set foot in this country again."

The part about not being able to set foot in the country again seems rather extreme to me.
 
I'm sure he gives a shit while rolling in his diamonds and hookers on a crystal clear ocean water beach.
 
DEACisGO said:
http://economy.money.cnn.com/2012/05/17/senators-to-saverin-dont-come-back-ever/


This is with regards to the Eduardo Saverin renouncing American citizenship presumably to avoid capital gains taxes from his Facebook shares. From the article:

The proposal says that if a wealthy American seeks to renounce their citizenship, it will be presumed they have done so for tax purposes, unless the individual can convince the IRS otherwise.

If the person is unable to convince the IRS, they will be subject to 30% capital gains tax on future U.S. investments no matter where they live. Furthermore, they will not be allowed back into the United States. "Period," Schumer said. "They could not set foot in this country again."

The part about not being able to set foot in the country again seems rather extreme to me.
Click to expand...

F*ck 'em. Behind this 200%. If you're looking for a way to actually enforce "trickle-down," then this is certainly a start.

I rooted against Saverin in the movie, too, so this makes me feel better about that decision.
 
Seems a bit draconian to me as the billions after the 30% tax would never be allowed back in the US for circulation/investment, right?
 
Don't let him take it out in the first place....when he sells his stock, take the tax then distribute the money.

Us the 90% for deficit reduction. :)

If you were an American and don't want to be any more, you shouldn't want our dirty, stinking money anyway :)
 
Welfare states are always afraid of poor people getting in and rich people getting out.
 
If you don't want to pay dues to be an American, you shouldn't get the benefits of being an American.
 
The US has more millionaires and billionaires per capita than any industrialized nation. Wealthy people want to do business in the US.

I am constantly amazed at your brainwashed ignorance.
 
The other "industrialized" countries tax people even more than the US, don't they? That is why a lot of people, like Saverin, try move their money to places outside the reach of greedy socialists.

I am constantly amazed at your brainwashed ignorance.
 
DreamOnDemOn said:
The other "industrialized" countries tax people even more than the US, don't they? That is why a lot of people, like Saverin, try move their money to places outside the reach of greedy socialists.

I am constantly amazed at your brainwashed ignorance.
Click to expand...

Are you Stephen Colbert?
 
DreamOnDemOn said:
The other "industrialized" countries tax people even more than the US, don't they? That is why a lot of people, like Saverin, try move their money to places outside the reach of greedy socialists.
Click to expand...

Are you familiar with how taxes work in Singapore? Saverin's motives for moving there aren't, IMO, as much rooted in tax avoidance as they are in cultural familiarities.
 
You must log in or register to reply here.
Back
Top