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  1. #1 Eduardo Saverin Renounces U.S. Citizenship Ahead Of Mega Facebook IPO 
    Super Moderator bijou's Avatar
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    Eduardo Saverin, the Facebook co-founder immortalized by his falling out with Mark Zuckerberg in the movie The Social Network, has renounced his U.S. citizenship ahead of the company’s IPO. Saverin, 30, may have made the move for tax reasons, hoping to avoid the highest rates before Facebook goes public. Although born and raised in Brazil before moving to the United States in 1992, he now lives abroad in Singapore. According to a spokeswoman, Saverin actually renounced his citizenship last September, but the information didn’t become public until Bloomberg reported that the IRS released his name on April 30. ...

    http://www.forbes.com/sites/briansol...-facebook-ipo/
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  2. #2  
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    What a surprise:
    We talk of taxing the rich, and one of them just ups and leaves. Singapore has no capital gains tax, and that attracts a lot of the really rich folks who make their money just that way.
    How long will it be before Obama sees you and me as one of "the rich"? Not long, I fear.
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  3. #3  
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    Don't worry, the libs will pin this on greedy rich people that don't want to pay taxes....
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  4. #4  
    Senior Member Janice's Avatar
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    Libs always seem to hate the country (the freedom, the free market) that made them rich. Big surprise eh?
    http://i1220.photobucket.com/albums/dd445/JansGraphix/ConsUndergrd-Sig2.jpg
    Liberalism is just communism sold by the drink.
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  5. #5  
    Senior Member Zeus's Avatar
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    The last President that felt the need to make the rich "Pay their fair Share" raised taxes on everyone making more than 32K/yr.
    The 21st century. The age of Smart phones and Stupid people.

    It is said that branches draw their life from the vine. Each is separate yet all are one as they share one life giving stem . The Bible tells us we are called to a similar union in life, our lives with the life of God. We are incorporated into him; made sharers in his life. Apart from this union we can do nothing.
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  6. #6  
    CU Royalty JB's Avatar
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    Good move on his part. From what I understand, by dodging the capital gains tax, he will pocket $640 million by doing this.
    Be Not Afraid.
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  7. #7  
    CU Royalty JB's Avatar
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    Forgot to add... Apparently he's not the only one:

    Renouncing citizenship is an option chosen by increasing numbers of Americans. A record 1,780 gave up their U.S. passports last year compared with 235 in 2008, according to government records.

    Income-tax rates for top U.S. earners will rise to 39.6 percent from 35 percent next year, and rates on capital gains and dividends also are scheduled to rise unless Congress blocks the increases.
    Keep up the good work Barry.
    Be Not Afraid.
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