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Tax-Arbitrage Of The Year - Facebook Founder Renounces US Citizenship
We can only guess at his reasons. Perhaps it is the cost of real estate in Palo Alto, the price of Starbucks in Silicon Valley, or the lack of Bugatti dealerships but Eduardo Saverin - co-founder of Facebook - just renounced his US citizenship. Via Bloomberg,
- FACEBOOK CO-FOUNDER SAVERIN GIVES UP U.S. CITIZENSHIP PRE-IPO
- FACEBOOK CO-FOUNDER SAVERIN PLANS TO INVEST IN BRAZIL COMPANIES
Or maybe the always pioneering entrepreneurs from Facebook just gave us a preview of US tax policy, or rather the popular response to it, in 2013. Like!
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Everyone is going Galt.
The American dream 2.0
Hit the big time, then hit the road.
he can renounce all he wants but until the government approves he is an american slave....
bill gates renounces citizenship -- oh wait, too late now.
Take the money and run. When you've got $20 billion, you get treated like a king wherever you go. And that's all that matters to these folks.
FWIW:
Does this fellow understand that when the IRS sees that his renunciation has a motive linked to his tax situation, he will be liable to 10 years of US taxes in advance?
Amerika.............fuck yeah!!!!!!!!!!!
wonder if he knows that he can be denied his denial.
Obama is also planning to renouce his U.S. citzenship after his work for Wall Street is complete...Actually he doesn't have to go through all the formalities. He's just going to get on Airforce One and tell everyone they've just been punked right before he slams the door shut and flees.
Some of you will not agree with me on this issue - but so be it.
Despite our problems with the evolution of our government, it is a previlage and honor to hold US citizenship. We may urgue among ourselves at what needs to be done for the betterment of our country, but to renounse citizenship, while living under the international protections that the US provides, is the height of hypocricy.
Let him take his billions and buy himself whatever citizenship he wants. We dont need his brand of citizenship.
Wow.
but to renounse citizenship, while living under the international protections that the US provides, is the height of hypocricy.
Like the kind of protection a battered housewife gets from her jealous, abusive husband?
2 junks already - Thank you, I accept them with all the pride that I have in my US Citizenship.
spend 5 minutes of your time on his current wiki page, clicking on the embedded links - hint: start with Yuri Milner - it shouldn't take you very long to understand that Ed was gifted with a family tie to a global mafia of money handlers.
"renouncing citizenship" means about as much as "he's moving from Florida to California" - there are no "national boundaries" for these peoples, simply "legal" formalities, of which their Harvard fraternising has them fully appraised.
Let's put it this way. He's been sexually molested once or twice by the government and now his molesters want him to go with them to the back room. He observes the smiles on their faces and the bulges in their trousers. What would you do?
He's trying to avoid a gang rape, not by the country he was born in but by the people in power. See, that constitution and bill of rights thing only works anymore, if you are one of them. It's no longer for the average citizen. They've replaced constitutional provisions and rights with unconstitutional. statutes and regulations. All to a redition of "that's right" sung by their judges and their media.
You're a complete fucking moron. The "international protections that the US provides"?
I love when my country (a legal fiction) commits a false flag attack on itself, murders it's citizenry, then goes and picks fights with other countries over it.
You have the OPPOSITE of protection inside the USA.
Where is OWS on this? Or do they LIKE facebook?
If his potential taxes post IPO are a lot less in whatever country is his new home country, then giving up US citizenship makes sense. To do this after the IPO, he would have to pay a 30% mark to market tax on all gains which would include paying 30% on nearly his entire stake in Facebook.
I'm about to post something outrageous and extremely unusual for this blog:
Congratulations on your success Mr. Saverin and best of luck with your future endevours!
Signed,
A Non-Jealous/Racist/Bigoted/Spiteful/Hate-Filled/ Person
lol, yeah, he did it all from his own genius and entrepreneurial spirit!! all hail the smart, independent kids!! you too can be president if you work hard!!
Does Timmy know about this?
He may start a fad.....what's Singapore like?
Anybody?
Timmy gets the best deal there is by filling his taxes in the US of A...
Let's see.
Either you climb a rock and stay there or you splash into the water and stay there.
Nothing in between.
I'll take the rock.
Bad traffic,humid weather,very pushy people.
A very sad moment for the United States, the land of tax and debt servitude. The next Facebook will not be domiciled in the US and other peoples will get the resulting jobs and wealth.
HE IS JOHN GAULT!
LOL Now for second imagine if all the wealthy poeple in the U.S. SUDDENLY RENOUNCED at the same time. 24 hours before the economic and banking collapse. oh and they lift their homes in the US weeks before.
I call it a flight of capital.
Now i wonder whats going to happen to average people when they try to leave?
Send in the DRONES!!!!
He's evil. He should be forced to pay his fair share. /sarc
You can check out but you can never leave.
My pet parakeet just upped & skeddaddled, flew right out the freekin window - without so much as a tip o' the wing in my direction!
Made the mistake of using the lastest copy of Simon Black's Sovereign Individual as birdcage liner - didnt know the little perisher could read! Anyhow, after scrapiing away the birdsh!t I was able to make out that the lead article was about citizenship in Brazil - so I guess my little feathered friend is headed in a southerly direction (probably stop off in Mehhico for a few days R&R on the way...)
I'll miss Bluey - (though he just hasnt been his old self since NDAA was passed and I can tell he's had a beakful of this Wall St sh!t ) - but I wish him well... a boyd's gotta do what a boyd's gotta do and I guess he's now Free at Last! :/
Alleycat will eat him.
Especially with those clipped wings.
the guys that did the great train robbery - hide in non-extradition vacation
the guys that do the great social media robbery - ditto
Hey Jamie.....
Tax Arbitrageur of the century
America is dead
America is dead
Suicide
America is dead
Okay, maybe an accidental overdose of credit.
America is dead
amrka was a figment of your imagination, a (corrupted) file installed at birth that could be deleted at any time, as soon as this was re-cognised. . .
Continents can't "die," you big silly.
Let him go. We can fix this shit on the backs of the poor, sick, elderly and the New Lower middle class because they ain't going nowhere.
Everybody take one step down. God Bless America.
roadhazard,Agree.once fiat is cancelled,no loss.let the fucking vultures go.
Take the money and run and hide.
I ask you all you Facebook investor wannabes; is this the management team you are buying into, or the management team you are buying out to be replaced by a bunch of Wall Street hedge funds and investment banks? Either way, I think you’re going to end up you know what in the Face.
Wasn't there a ZH posting about Brazil's non-extradition treaty for citizens?
HMmmm
So now the senate is mulling an expat bill.
The fence is to keep us in.