In response to:

Gee, Thanks, Tax Code: Facebook Co-Founder Renouncing U.S. Citizenship Before IPO

John338 Wrote: May 12, 2012 11:39 AM
another Obama commie avoiding taxes, it pretty typical for left wing trolls.
neoreconstructionist Wrote: May 12, 2012 11:41 AM
do u feel the same about Romneys off shore accounts?
far2right Wrote: May 12, 2012 11:48 AM
Hello, Romney is a U.S. citizen.

So is Buffy.
restoreliberty Wrote: May 12, 2012 1:20 PM
I have no problem with offshore accounts. If that is the only way that Americans can protect what they work for and earn then expect to see more of it in the future. Even everyday Americans with money to invest are finding it worthwhile to invest overseas, go there for vacations, and spend that money where it is appreciated. There is nothing honorable about enabling the lazy to further self destruct.
John3138 Wrote: May 13, 2012 8:50 AM
What? How is moving money offshore "the only way to protect what you work for?" It's one thing to invest overseas, but Mitt Romney banks overseas--that's the MO of tax cheats and people with something to hide. I don't know why Governor Romney banks overseas, but it makes little sense. . .
FlaCracker Wrote: May 13, 2012 9:08 AM
Offshore accounts pay higher interest and dividends. If you are an American citizen, you pay tax on all of your income, regardless of where it was made. Also, if you are in international business, it is easier to move money around when you are not using an American bank. If you LIVE and work offshore (an expatriot) you still have to pay taxes, but you get a $80,000, or so, exemption, because it costs a lot more for a US citizen to live most places overseas, and you have to pay taxes where you live.

It would take a heck of a lot for me to even consider giving up my citizenship with America -- since it is most certainly The Greatest, Most Exceptional, Freest, and Just Downright Bad*ss Nation on Planet Earth -- but... the prospect of losing millions and millions of my well-earned dollars, might at least have me thinking twice about it. Bloomberg reports:

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...