In response to:

Facebook Billionaire Gives Up Citizenship to Escape Bad American Tax Policy

ResistWeMuch Wrote: May 12, 2012 1:51 PM
"Yes, never let him have his citizenship back. He will still live here anyway, they all do; they have houses in Beverly Hills, New York, Palm Beach everywhere. They are not American anyway. He was born in Brazil, so how is he American." He does not reside in the United States. He was a naturalised American. By the way, I say, "more power to him." Oh, I know, you guys will scream "Greedy, selfish, unpatriotic!" but think about it. The United States has the most progressive income tax system in the world. It also has the highest corporate tax. You have a POTUS and an entire political party that does NOTHING but demonise entire groups of people. You have a profligate, corrupt bunch of crooks in Washington. Everyone knows that the
ResistWeMuch Wrote: May 12, 2012 1:57 PM
entitlement programmes are unsustainable and cannot be resolved by simply raising taxes on the "evil rich" and hiking the unemployment age. (The Obama administration, itself, admits that Medicare, "as we know it," will end in 2024. The country's economy is in the dump and what are the chattering class arguing about? Contraception, dogs, and gay marriage.

The Left isn't even happy with what they have. They want the accountant in Wichita, whose kids work to put themselves through state colleges, to subsidise the upper middle class kids, who go to Harvard and take classes like "Understanding the Occupy Wall Street Movement."

I went Galt on 01.20.09 and tell the Left "FUND YOUR UTOPIA WITHOUT ME™".

ResistWeMuch Wrote: May 12, 2012 2:00 PM
In many ways, Eduardo Saverin has Gone Galt. Why would he want to stay in a country where half of the workforce doesn't pay Federal income taxes, tens of millions believe that they are not only entitled to his wealth, but owed it, corrupt politicians will not address severe fundamental problems, the Fed is monetising the debt (Yeah, that went so well for the Weimar Republic and Mugabe's Zimbabwe), etc.

You may say that it was an "unpatriotic" act on the part of Saverin. Maybe it was, but don't you think the Federal government owes the citizens something for which to be patriotic? I think that the Federal government long ago told all of you citizens to go to hell.
ResistWeMuch Wrote: May 12, 2012 2:01 PM
All that Eduardo Saverin did was return the favour by telling the Federal government to "Go to hell. I'll take Singapore."

It is very sad that America’s tax system is so onerous that some rich people feel they have no choice but to give up U.S. citizenship in order to protect their family finances.

I’ve written about this issue before, particularly in the context of Obama’s class-warfare policies leading to an increase in the number of Americans “voting with their feet” for places with less punitive tax regimes.

We now have a very high-profile tax expatriate. One of the founders of Facebook is escaping for...

Related Tags: billionaire Tax