Posted 11 May 2012 - 02:32 PM
How much is that "exit tax" on the capital gains? And it doesn't matter if he sells the shares or not? If that's the case, and if the estimated worth of his shares is fairly accurate, doesn't that mean he's going owe something like 570 million dollars in taxes here the day Facebook goes public?
I must be missing something because this looks like the dumbest tax move since Zuckerberg shut him out of his 30 percent share according to "The Social Network." Maybe he can run the 570 million on his VISA card and end up paying another 27 percent in interest fees. That would be a smooth move too.
Come to think of it, his tax bill could have paid off Greece's current debt payment and preserved the European Union with enough left over for to buy baklava for everyone in Germany.
If he has trouble coming up with cash for the tax payment or if it just takes a while, maybe we should seize his entire stake in Facebook for tax evasion and use the interest in the meantime to save the whole world. It's not like he can come back from Singapore to fight us on it (if he thinks getting cheated out of a tiny bit of his 3.8 billion by the government now is stressful, just think how he'll be crying with the entire government itself in his face...book, so to speak). Anyway, this way he wouldn't have to worry about the taxes anymore and he could feel good about himself for helping to save the world and I'm sure somehow he won't starve (he went to Harvard after all).
"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx.
“I spent half my money on gambling, alcohol and wild women. The other half I wasted,” W.C. Fields.