'Ex-PATRIOT Act' Would Tax Facebook's Eduardo Saverin

Politico:

Sens. Chuck Schumer and Bob Casey have a message for Facebook co-founder Eduardo Saverin: You should pay taxes despite renouncing your American citizenship.

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Comments

[Alpha Trading]

07:20 PM on 05/18/2012

More and more smart and talented people are going to leave the United States because of the high taxes. The U.S. has one of the highest tax rates (corporate and personal) in world and it will keep losing wealth creators to countries like Singapore, Andorra, Monaco, etc. The country is on its way to become more of a communist state than a capitalist one. Just refer to the economic freedom index by the Heritage Foundation to compare where we stand among other nations. The facts are very sad! Hopefully, people wake up before the 2012 election is over!

[Michael7771]

01:15 PM on 05/17/2012

Dumbest idea to come from Congress in years, and that's saying a lot. Let's take away even more freedom from the "land of the free", let's create less incentive for any talented foreign persons to ever become American (b/c it's a pain in the ass if you ever want to leave, they own you now) and more incentive for us natural-born Americans to GTFO now before we have any assets and this place is locked down like a prison.

All this does is make me realize the direction of this country and make me want to leave now. This really is scary stuff.

[mikes97626]

10:35 PM on 05/17/2012

Right, and let's just allow the already filthy rich to use this loophole to avoid paying the taxes on the money they make. I suppose you'd be more than happy to pay higher taxes as all the millionaires renounce citizenship to save a buck. If they aren't loyal to the great country that gave them the freedom to get "rich", then take it from em.

[Tomas v]

04:23 AM on 05/18/2012

I know this is a Liberal website... and you like being liberal. I do too. It's fun...until I started making money. Then I try to vote for the guy who's a friend to the tax payer. How about trying to KEEP him, and his money here. Every time goons raise taxes, people take their money and LEAVE! Businesses go overseas to SAVE MONEY, because of rules like this. Maybe it's time for people to put their parties aside and vote for common sense.

[Robert Nuanes]

12:44 PM on 05/17/2012

This scum can go to hell or back to Brazil where he was going to be killed until the US gave him refuge. Now he owes the US Nothing! I am so sick of all tax cheats not wanting to pay for the infrastructure that is provided for all. Where do you think this all came from? Santa Claus? The tooth fairy? People that have become rich in this country have done so by using the commons provided to do so. All tax hating Libertarians go see how well you do in Somalia where there is no government to bother you !

[Michael7771]

01:48 PM on 05/17/2012

You don't understand it at all. Firstly, he is paying an enormous amount of taxes via the exit tax. This isn't tax cheating at all. Secondly, it wasn't the 'commons', as you say, that made him wealthy. It was his and Facebook's founding team's efforts that created that wealth and value. There isn't a fixed amount of wealth in the world. It's created by hard work, effort, and persistence. It sure wasn't handed to him by the gov't or the 'commons'. And he has paid way more taxes than you ever will. If you think it's the infrastructure that provided for him to create that wealth in a way that you imply he couldn't do so elsewhere, then why would he leave that infrastructure? You're wrong. It wasn't the infrastructure that created the wealth. It was him and his team. He will continue to create business and wealth in the future wherever *he* goes. You should be thankful he ever came, co-founded Facebook in America, created jobs and further wealth.

We should be aiming to *be* one of those countries with policies that *attracts* new entrepreneurs who create businesses. This proposed 'ex-patriot act' is a *horrible* idea b/c it disincentivizes talented individuals from ever coming to America (b/c the US will then own you *for life* even if you ever want to relocate) and incentivizes natural-born Americans to renounce and leave now b/c it will only be harder to do so in the future.

[mikes97626]

10:42 PM on 05/17/2012

So Michael seems to think it's ok to come here to the states, get filthy rich developing a product here, and then renounce citizenship to avoid future taxation. An exit tax is sufficient payment, and he therefore should not pay future tax but continue to make loads of money here. Why not make this an option for every worker paying taxes then??? Hmm, because the government would cease to exist possibly?? Why should this rich man be taxed any differently than someone making $30K per year busting their butt and doing their part?

[Robert Nuanes]

07:53 PM on 05/18/2012

let me just take this point by by point.
1) He is paying exit tax on the wealth already made in the us on facebook.
he is not paying taxes on the Capital gains he just made because he is no longer a us citizen and guess who will take up the slack? you!
Why would you defend this thing so you can pay his bill for him while he is sipping Champange on the Reviera? Do you ever think you will be like him?
3) The rich should pay more taxes because the make more money! Simple 3rd grade math.
4) He does't pay more he most likely pay around 15 to 20 % while you and I pay around 27 to 35 %

Still like this?
He couldn't do so elsewhere the internet was developed by the US Government Defence Dept. Did Brazil. Canada. UK, etc. he had his life on the line in Brazil that is why he ran just like a coward. Hire Security don't run here with an excuse!
What else? just on an on and on with this stuff. Get Real!!