From Patriots to Expatriates
15th July 2012
Eduardo Saverin is the most notable tax expatriate this year. The Facebook cofounder renounced his US citizenship after learning that his earnings on the company’s IPO would be taxed upwards of $67 million. Since Singapore has no capital gains tax, Saverin moved. Now he gets to keep everything he earned. Saverin now seems interested only in Brazilian start-ups looking to get involved in the Asian market, so American companies can forget about any extra investment opportunities his wealth would have provided to them.
This was bad news for American entrepreneurs, but we saw no apologies from DC’s parasitic bureaucrats. Instead of loosening the tax collector’s death grip around our only source of economic growth, maggots such as Senator Chuck Schumer decided it’d be best to prevent wealthy expatriates from ever returning to the country.
Acts of personal sovereignty such as Rich’s and Saverin’s threaten government officials because they imply that individuals will move as they wish. It suggests that successful businessmen really will leave the farm when they’re pushed around for too long.
Used to be, people wanted to move here. Now the government has arranged things so that people want to move elsewhere.
July 16th, 2012 at 08:11
So when are you leaving? I’ll help you pack.
July 16th, 2012 at 11:29
You could save us some trouble by just letting Texas secede. Obama wants to pick up Puerto Rico as a state, so you wouldn’t even have to change the flag. P.R. is an impoverished place, like Michigan, but with a better climate.
July 16th, 2012 at 11:36
Biggest mistake we ever made: When the South seceded, we didn’t just let ’em go…