He lived the American Dream -- and then he packed up and left.

Facebook co-founder Eduardo Saverin, who made billions off the world’s most popular social network, stands to rake in about $3.84 billion from his 4 percent share of Facebook, Bloomberg reported.

American citizens pay several taxes, including taxes on salary and investments. Saverin would be hit with about $600 million in capital gains taxes whenever he sold the Facebook shares (or "realized the income," in financial speak). But Saverin may not have to pay -- he's chosen to renounce his U.S. citizenship for residence in Singapore, Bloomberg reported, where there is no capital gains tax.
Tom Goodman, a spokesman for Saverin, told Bloomberg the move was “practical.”


Keep it up Barry, great job. Thats 600 million less in revenue that U S can count on thanks to your daily drivel about hating the rich.
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Saverin is a Brazilian who lives in Singapore and who spends very little time in the US. This is no different than Michelle Bachmann renouncing her Swiss citizenship. But God forbid Fox, etc, would report such inconvenient details.

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http://bible.cc/1_corinthians/13-11.htm

We are on the path Europe took. We are absolutely fucked. Obama will blame Bush until the end of time. Leftist lemmings will follow him off the cliff until they can't vote for him anymore because they don't have the means to get to the polling stations.

Once there are neocon air jet fighter pilots then they will shoot down non jew usa fighter pilots. They will assume command thrn blame lack of oxygen orsomething similar so they do not go to jail. Then once aquitted they will then move back to israel after thry help destroy america

Perfect example of why it's far better to have low taxes where at least you get some of our White Man's Gold rather than none at all when we just up and leave the country - which we can easily afford to do.

I remmeber reading a report that showed that you actually get more government revenue from lower taxes than you do from higher taxes - as contradictory as that may seem at face value.

Low taxes both fuel economic growth and keep your rich folk happy - hence more income to tax and less tax evasion.

When the taxes are low, we're happy to pay them. When you think we're you're personal piggy banks or some rich prick you can demonize and exploit, then fuck you. We'll just hop on a jet and leave you peasents to wallow in your own filth.

We're also taking our high IQs and our evaaaaaal corporations and businesses with us that employ millions and generate trillions of dollars in both private and public sector funds.

Eat the rich? How about you eat my giant White cock you commi niggers. I'm going Galt!

WashingTone-Locian Wrote:
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> Saverin is a Brazilian who lives in Singapore and
> who spends very little time in the US. This is no
> different than Michelle Bachmann renouncing her
> Swiss citizenship. But God forbid Fox, etc, would
> report such inconvenient details.

You need look no futher than across the Potomac to Maryland. They have been bleeding millionaires since Martin "obama clone" Omalley started the millionaires tax. Actual revenue from this tax was hardly noticeable as millionaires fled the state in droves. Some came to Virginia while lots more located in Florida which has no state income tax.

Many did not really move but simply purchased a second home claiming residency in a more tax friendly state. Unless the government can prove they do not spend the majority of their time there then it is nothing they can do about it. Same with California where the real earners pulled up stakes and claimed residency in Nevada which also has no state income tax. Even worse was those wage earners who racked up billions in deferred compensation then when it came time to withdraw the funds they located outside the socialist state. Although the money was earned in those states it is where it is taken out that subjects it to taxes or not. Cali now has projected 8 billion dollar shortfall btw.

BTW I plan to do the same thing when I retire. My def comp will be taken out in Florida where I will buy a condo in Panama City Beach which I will declare as my primary home.

So Mr hope and change just keep it up while billionaires and millionaires become ex pats.

WashingTone-Locian Wrote:
-------------------------------------------------------
> Saverin is a Brazilian who lives in Singapore and
> who spends very little time in the US. This is no
> different than Michelle Bachmann renouncing her
> Swiss citizenship. But God forbid Fox, etc, would
> report such inconvenient details.


Huh? It's the exact opposite you dumbshit. lmao!

Yucky24. Wrote:
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> I remmeber reading a report that showed that you
> actually get more government revenue from lower
> taxes than you do from higher taxes - as
> contradictory as that may seem at face value.

You are probably thinking of the Laffer Curve. It doesn't actually say that revenues always go up as taxes increase, but rather that there exists an optimal tax rate at which revenues are maximized. In other words, there are going to be diminishing returns at some point -- we can't expect increased revenues if the tax rate is 0%.

I'M A FIVE-STAR MAN!!

WashingTone-Locian Wrote:
-------------------------------------------------------
> This is no different than Michelle Bachmann renouncing her
> Swiss citizenship.

It is completely different. Savering was not born a US Citizen and Bachmann was. He actually took the steps to acquire citizenship here and now sees it as a place he no longer wishes to be connected to.

Take off the blinders.

huh???? Wrote:
-------------------------------------------------------
> WashingTone-Locian Wrote:
> --------------------------------------------------
> -----
> > This is no different than Michelle Bachmann
> renouncing her
> > Swiss citizenship.
>
> It is completely different. Savering was not born
> a US Citizen and Bachmann was. He actually took
> the steps to acquire citizenship here and now sees
> it as a place he no longer wishes to be connected
> to.
>
> Take off the blinders.

It's exactly the same. Bachmann got rid of her Swiss citizenship because there was no value to it. Saverin did the same thing.

Besides, my point is that the OP and right wing media are trying to dupe stupid people into believing that Saverin is a natural born American who gave up his citizenship to avoid taxes. That's not what happened. He is a Brazilian who has U.S. citizenship. If he lived and worked in the U.S., he may not have done it. But he doesn't. He lives in Asia.

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http://bible.cc/1_corinthians/13-11.htm

WashingTone-Locian Wrote:
-------------------------------------------------------
> huh???? Wrote:
> --------------------------------------------------
> -----
> > WashingTone-Locian Wrote:
> >
> --------------------------------------------------
>
> > -----
> > > This is no different than Michelle Bachmann
> > renouncing her
> > > Swiss citizenship.
> >
> > It is completely different. Savering was not
> born
> > a US Citizen and Bachmann was. He actually
> took
> > the steps to acquire citizenship here and now
> sees
> > it as a place he no longer wishes to be
> connected
> > to.
> >
> > Take off the blinders.
>
> It's exactly the same. Bachmann got rid of her
> Swiss citizenship because there was no value to
> it. Saverin did the same thing.

You can keep saying it is the same, but that doesn't make it so. Saverin went through the lenghty and arduous process to acquire US citizenship. Bachmann got hers automatically after marrying a Swiss citizen. Saverin now sees no value in it. US Citizenship was once a highly sought after asset. It is now viewed as a liability. In 2008, 226 people renounced US citizenship. Last year that number was 1,780.

> Besides, my point is that the OP and right wing
> media are trying to dupe stupid people into
> believing that Saverin is a natural born American
> who gave up his citizenship to avoid taxes.

I haven't seen that anywhere. Besides, I honestly believe it is more telling that someone is willing to give up US citizenship after going through the difficult process of getting it.

huh?????? Wrote:
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> ...I honestly believe it is more telling that someone is willing
> to give up US citizenship after going through the difficult
> process of getting it.

Billionaires don't need citizenship anywhere - they wield considerably more influence with their monetary power than any thousand of us out here will wield with our votes; this is a nonstory.

He decided to save some significant IPO bucks by changing his citizenship to a country where the IPO is almost a nonissue, tax-wise, unlike in the US where HUNDREDS of millions of dollars of value would go to the taxman.

Makes total financial sense.

========

The "Bachmann Story" is only marginally interesting because SHE made a big deal about GETTING dual citizenship, then after some major shit hit the fan she denounced her newly-minted Swiss citizenship to LITERALLY be politically correct.

http://video.search.yahoo.com/video/play;_ylt=A2KLqILY8bBPaQsA34D7w8QF;_ylu=X3oDMTBvbnA1cmZmBHNlYwNzcgRzbGsDdmlkBHZ0aWQDVjEyNQ--?p=john+perkins&vid=8D6694C2F944A28579F58D6694C2F944A28579F5&l=&turl=http%3A%2F%2Fts4.mm.bing.net%2Fvideos%2Fthumbnail.aspx%3Fq%3D4630928800743491%26id%3D99aeda3efec9eb1effa4ec85696241ca%26bid%3D9XmFokT5wpRmjQ%26bn%3DLargeThumb%26url%3Dhttp%253a%252f%252fwww.youtube.com%252fwatch%253fv%253dTFC18pFvo1g&rurl=http%3A%2F%2Fwww.youtube.com%2Fwatch%3Fv%3DTFC18pFvo1g&tit=John+Perkins+on+Globalization&c=0&sigr=11ackvi6khttp%3A%2F%2Fvideo.search.yahoo.com%2Fsearch%2Fvideo%3B_ylt%3DAg_DBxm7tBeldSqbT8TeZ.ObvZx4%3Fp%3Djohn%2Bperkins%26toggle%3D1%26cop%3Dmss%26ei%3DUTF-8%26fr%3Dyfp-t-701_;_;http%3A%2F%2Fvideo.search.yahoo.com


The above link proves its the IMF's fault. Part of the Global empire building that George Bush called the NEW WORLD ORDER.

Yes Obama is party to it as well.

The OP of this thread is an idiot.

As the OP I am only stating the facts. The man would be a total fool to hand over 600 million in taxes so Obama can redistribute it to the much deserving welfare cases and unions.

With his money citizenship means only how much taxes he will pay. He is a man with clout who will get what he wants no matter what country he calls home. Call Savarin a citizen of Singapore if you wish but he is 600 million more dollars richer by doing so. The rich do not care to subject themselvess to name calling by Obama and then hand over their wealth to the same guy.

You can call me whatever names you want the truth is what it is. With just a little fact checking you will find many middle and upper income Americans relocating to others states which treat them better and respect the wealth they bring with them. Such people are not a drain on a local or state government the same way illegals or welfare cases will be.

Then why are peopel flooding maryland?
Maryland is a ccess pool now of new york and florida drivers and they have turned the MD/DC/VA roads to pure shit.

WashingTone-Locian Wrote:
-------------------------------------------------------
> Besides, my point is that the OP and right wing
> media are trying to dupe stupid people into
> believing that Saverin is a natural born American
> who gave up his citizenship to avoid taxes. That's
> not what happened. He is a Brazilian who has U.S.
> citizenship. If he lived and worked in the U.S.,
> he may not have done it. But he doesn't. He lives
> in Asia.


As the OP I am not a member of either the right or left. I am trying to dupe no one. Do you dispute the fact the man is going to save 600 million dollars by becoming an expat? I doubt you can say Savarin lives anywhere. With his money the world is his home. He doesnt commute to work the way we do. What he does do is protect his wealth and I see nothing wrong with that. You do the same thing when you file your taxes I am sure by taking advantage of the deductions and credits allowed.

My point is if Obama is going to demonize the rich and threaten them will extra harsh taxes as he does then why stay in such a country.

WTL you are welcome to refute anything in my original post so have at it.

good work barry Wrote:
-------------------------------------------------------
> As the OP I am only stating the facts. The man
> would be a total fool to hand over 600 million in
> taxes so Obama can redistribute it to the much
> deserving welfare cases and unions.

You cannot post up something without facts. Show me how money was distributed. I believe you have NO idea where it goes. It kills me how people talk down on welfare, but happily accept their social security checks. GTFO.

> With his money citizenship means only how much
> taxes he will pay. He is a man with clout who will
> get what he wants no matter what country he calls
> home. Call Savarin a citizen of Singapore if you
> wish but he is 600 million more dollars richer by
> doing so. The rich do not care to subject
> themselvess to name calling by Obama and then hand
> over their wealth to the same guy.

You just know how everybody works, don't ya?

> You can call me whatever names you want the truth
> is what it is. With just a little fact checking
> you will find many middle and upper income
> Americans relocating to others states which treat
> them better and respect the wealth they bring with
> them. Such people are not a drain on a local or
> state government the same way illegals or welfare
> cases will be.

Which states are people moving to? Ones with a strong Democrat presence, or Republican? Because we all know Republican-led states are the ones which take the most from the government, have the most on welfare, etc. It's hard for some to understand, but reality has a liberal bias.

mdguy Wrote:
-------------------------------------------------------
> Then why are peopel flooding maryland?
> Maryland is a ccess pool now of new york and
> florida drivers and they have turned the MD/DC/VA
> roads to pure shit.


Helpful reading: The article is three years old and nothing has changed in fact it has gotten worse


http://online.wsj.com/article/SB124329282377252471.html


Here's a two-minute drill in soak-the-rich economics:

Maryland couldn't balance its budget last year, so the state tried to close the shortfall by fleecing the wealthy. Politicians in Annapolis created a millionaire tax bracket, raising the top marginal income-tax rate to 6.25%. And because cities such as Baltimore and Bethesda also impose income taxes, the state-local tax rate can go as high as 9.45%. Governor Martin O'Malley, a dedicated class warrior, declared that these richest 0.3% of filers were "willing and able to pay their fair share." The Baltimore Sun predicted the rich would "grin and bear it."

One year later, nobody's grinning. One-third of the millionaires have disappeared from Maryland tax rolls. In 2008 roughly 3,000 million-dollar income tax returns were filed by the end of April. This year there were 2,000, which the state comptroller's office concedes is a "substantial decline." On those missing returns, the government collects 6.25% of nothing. Instead of the state coffers gaining the extra $106 million the politicians predicted, millionaires paid $100 million less in taxes than they did last year -- even at higher rates.

No doubt the majority of that loss in millionaire filings results from the recession. However, this is one reason that depending on the rich to finance government is so ill-advised: Progressive tax rates create mountains of cash during good times that vanish during recessions. For evidence, consult California, New York and New Jersey (see here).

The Maryland state revenue office says it's "way too early" to tell how many millionaires moved out of the state when the tax rates rose. But no one disputes that some rich filers did leave. It's easier than the redistributionists think. Christopher Summers, president of the Maryland Public Policy Institute, notes: "Marylanders with high incomes typically own second homes in tax friendlier states like Florida, Delaware, South Carolina and Virginia. So it's easy for them to change their residency."

All of this means that the burden of paying for bloated government in Annapolis will fall on the middle class. Thanks to the futility of soaking the rich, these working families will now pay Mr. O'Malley's "fair share."

The Maryland state revenue office says it's "way too early" to tell how many millionaires moved out of the state when the tax rates rose. But no one disputes that some rich filers did leave. It's easier than the redistributionists think. Christopher Summers, president of the Maryland Public Policy Institute, notes: "Marylanders with high incomes typically own second homes in tax friendlier states like Florida, Delaware, South Carolina and Virginia. So it's easy for them to change their residency."


GET IT?

good work fact man Wrote:
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> Which states are people moving to? Ones with a
> strong Democrat presence, or Republican? Because
> we all know Republican-led states are the ones
> which take the most from the government, have the
> most on welfare, etc. It's hard for some to
> understand, but reality has a liberal bias.

Hey dipshit, if you call Virginia, South Carolina and Florida strong democratic states you havent picked up a newspaper lately. Now go back to collecing your disablility check.

The OP Wrote:
-------------------------------------------------------
> Hey dipshit, if you call Virginia, South Carolina
> and Florida strong democratic states you havent
> picked up a newspaper lately. Now go back to
> collecing your disablility check.

To bad I'm not collecting one you ignorant fuck. People are moving to these states? Did I say they had a strong Democratic presence you moron? Where are your facts dumbass. By the way, Virginia and South Carolina are 10th and 16th in recieving money from the government. In other words, they recieve more than they give back. But surely people don't move to those welfare states you just named..idiot.

Does the government cut you the disability check or is it direct deposit?

Aww look, you lost so you can't argue your retarded point anymore. So now you make jokes which have absolutely nothing to do with me. Grow up buddy, you set yourself up, and lost.

BTW I am not faulting you on collecting welfare and disability I wish I could do it and look myself in the mirror. I guess I just have too much self respect to still live at home as you do in your twenties. Meanwhile your mom keeps trying to find a nice girl for you to marry so maybe some day you will get the fuck out of the basement and into the real world.
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