Eduardo Saverin A Real American Hero!

Indeed, Saverin’s U.S. “de-friend” is great for economic growth on its face, and then the political implications of his move will hopefully pay future taxation dividends that accrue to entrepreneurialism and advancement. Media members will vilify Saverin, but hysteria from that quarter is to be expected.Saverin’s essential maneuver will at first glance hopefully get Americans thinking once again about our wrongheaded system of taxation. As it stands now, Americans, through taxes levied on income and capital gains, are explicitly forced to “prove” their income to the IRS.

Turns out, changing your citizenship is not illegal. People, especially rich people, are mobile and so is their money. If you want capital flight, the surest thing is to raise capital gains.

Of course, the US also has an exit tax.

http://renunciationguide.com/Exit...iants.html

Turns out, changing your citizenship is not illegal.

Do you find any sense of disconnect between the same people yelling unAmericanism if you protest military adventurism and those same people taking the first opportunity to avail themselves of capital flight?

Patriotism is only a good thing in war, not in economic security for the country?
Then again, those people really aren't paying for the wars in either blood or treasure, they just talk a big game and do an even worse job of supporting those who DID pay with blood and treasure.

Kind of like those that come here and take advantage of our college education system and then go back home. We need to do a better job of incentivizing these people to stay here if we want them.

Here is why: The Facebook FB +0.61% co-founder holds 2% of the company's stock, worth more than $2 billion at $38 a share. By renouncing his citizenship last September, before the public offering, he limited his 15% "exit tax" to the gains in his shares and other assets up to that point. Appreciation in the shares after that escapes the tax

If those two moves shaved even $10 a share from the IPO price of $38, then Mr. Saverin's early exit saved him more than $80 million; likely it was more, says independent tax expert Robert Willens.

Mr. Saverin didn't need to move to Singapore for income-tax reasons, says David Miller, a lawyer at Cadwalader, Wickersham & Taft in New York. That's because there are legal techniques for tapping investments without paying tax, such as borrowing and hedging against them, Mr. Miller says. And under current law, no capital-gains tax is due at death.

Mr. Miller says the Facebook co-founder's real tax worry should have been estate and gift taxes—even though Mr. Saverin is only 30 years old. That's because the top rate is 35% and is set to rise next year to 55%, more than twice the 15% exit tax on appreciation. On a net worth of $2 billion, that tax would amount to $700 million. Singapore has no estate tax.

We should just get rid of taxes all together, dismantle all environmental laws, workers rights, and let the good times roll with REAL CAPITALISM not this fake shit!

There’s a larger hypocrisy in Schilling's failing video game venture, the one that Rhode Island state officials giddily backed to the tune of $75 million in loan guarantees, which seems to be a fancy financial term for taking $75 million in hard-earned taxpayer cash and tossing it in the Providence River.

Schilling spent no small amount of time in his career preaching the Republican mantra of smaller government and personal responsibility. He did this fresh off the historic Red Sox World Series win when he backed George W. Bush in the 2004 campaign. He did it on the stump on behalf of John McCain in 2008.

He did it for Scott Brown in January 2010, when he wrote in his blog, “He’s for smaller government,’’ and lauding Brown’s opposition to “creating a new government insurance program.’’

Smaller government? Call me crazy, but I’m betting that wasn’t exactly what Schilling was extolling when he sat behind closed doors on Wednesday pleading with the members of the Rhode Island Economic Development Corp. to put more public money behind his fantasy video game venture. And insurance? It seems like that’s precisely what he got.

Apparently smaller government, in Schilling’s world, applies to other people, maybe city kids stuck in underperforming schools or disabled adults looking for help back and forth to medical appointments.

Yep, 15% capital gains is just WAY too much to repay the United States for taking him in and saving his punk ass from extinction in his native Brazil.

We should have done it for free.
Oh, that's right, we DID do it - not only for free but at additional cost to the taxpayers of America, & gave him the opportunity to grow into the selfish, ingrate, PRICK he is today.
Another American success story.

We should just get rid of taxes all together, dismantle all environmental laws, workers rights, and let the good times roll with REAL CAPITALISM not this fake shit!