27 replies to this topic

[selecto]

"Think about how many government jobs the prison system creates."

A large portion of which are a consequence of the "war on drugs" which is actually an industry, not a war. Every American should have the patriotic duty to smoke a little weed and thus contribute to job creation.

Edited by selecto, 12 May 2012 - 08:45 AM.

[OEXCHAOS]

It is perfectly moral and good to "shrug" if you see fit. He made US better off and WE are the worse for him leaving. You can pretend otherwise but the economics are pretty clear. If you don't like it, elect someone who won't cater to parasites and control freaks and who won't penalize productivity for political gain. It's just that simple. M

[SemiBizz]

This is all about personal choice.

This fellow obviously is an "International". While we may be citizens of a particular country, we live on a diverse landscape (thankfully) on the Earth, and there are choices available to us that include the location, laws, geographics, demongraphics etc. that we feel comfortable in... We are also increasingly mobile. We can assume that in addition to having lived in another country and been a citizen of another country, that his loyalties are negotiable. He's already proven that. It may have a business decision, he either didn't think it was worth it or had other reasons for migrating... Let's all rejoice in the fact he still has a choice... outside of that -

Not really newsworthy unless you want to find things to divert attention from the real issues like the debt, the job market and the economy.

Sorry can't be of any assistance here, this discussion adds nothing to fixing our problems.

News really sucks.


But HAVE A GREAT WEEKEND - I'm busy charting

[Dex]

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.

The shar valuation is when he renounced - last Sept. So, if his accountants can make the case the shares value is less then the IPO; he would pay less taxes.

Also, USA taxes wolrd income - Singapore, income earned there.

He'll be paying much lower taxes in the future.

[Mike McCarthy]

FACEBOOK CO-FOUNDER GIVES UP U.S. CITIZENSHIP BEFORE IPO

Eduardo Saverin, the billionaire co- founder of Facebook Inc. (FB), renounced his U.S. citizenship before an initial public offering that values the social network at as much as $96 billion, a move that may reduce his tax bill.
Saverin, 30, joins a growing number of people giving up U.S. citizenship, a move that can trim their tax liabilities in that country.


Kinda reminds my of one of my clients: A doctor with one foot out the door and a 2nd home in Costa Rica.
LINK

Where is there ANY reporting -- actual sourced and verified information -- regarding Saverin's motives to renounce his citizenship?

There is not a single word in the entire article indicating that he ever said it had anything to do with taxes. Or that his associates even suggested that it had anything to do with taxes.

We have no idea why he's moving. Certainly not from this article.

This article is pure journalism. Waste of electrons.

[Lee48]

OK, the main reason wealthy Americans are leaving the country or have one foot out the door is not about taxes, it's just the heavy hand of the US govt to spy on, control, hold you in prison without trial, freeze your bank accounts and seize your property and assets. If the local govt wants your property al they have to do is find or plant some weed growing on it. And it's gone. It's getting scary in the US for the average Joe and wealthy people. We no longer have any privacy. A new exposé in Wired Magazine reveals details about how the National Security Agency is quietly building the largest spy center in the country in Bluffdale, Utah, as part of a secret NSA surveillance program codenamed "Stellar Wind." We speak with investigative reporter James Bamford, who says the NSA has established listening posts throughout the nation to collect and sift through billions of email messages and phone calls, whether they originate within the country or overseas. The Utah spy center will contain near-bottomless databases to store all forms of communication collected by the agency. This includes the complete contents of private emails, cell phone calls and Google searches, as well as all sorts of personal data trails — parking receipts, travel itineraries, bookstore purchases and other digital "pocket litter." "The NSA has constantly denied that they’re doing things, and then it turns out they are doing these things," Bamford says in response to NSA Director General Keith Alexander’s denial yesterday that U.S. citizens’ phone calls and emails are being intercepted. "A few years ago, President Bush said before camera that the United States is not eavesdropping on anybody without a warrant, and then it turns out that we had this exposure to all the warrantless eavesdropping in the New York Times article. And so, you have this constant denial and parsing of words."

[Dex]

We speak with investigative reporter James Bamford, who says the NSA has established listening posts throughout the nation to collect and sift through billions of email messages and phone calls, whether they originate within the country or overseas.

It should be interesting when the terrorist start to use the US Mail.

Did you ever read "Spy Vs Spy" in Mad magazine - it comes to mind about now.

[diogenes227]

The numbers become clearer as the day approaches:

BAT-OUT-OF-HELL'S TAX AVOIDANCE

Saving at least $67 million in taxes by flipping off the good old USA on an estimated $2.8 billion take from having the talent (that is to say, family money and privilege) to do nothing more than be accidentally assigned as Mark Zuckerberg's Harvard roommate. Yes, we will miss him.