Senators Unveil the ‘Ex-Patriot Act’ to Respond to Facebook’s Saverin’s Tax ‘Scheme
- Thread starter ayzo
- Start date
So he leaves the country. Renounces his citizenship last year. Senator tells him (now, as in recently told him - not last year when he renounced) to stop trying to dodge taxes.
...and he hasn't lived in the USA since 2009. "Saverin has lived in Singapore since 2009.". Grreeeeeeaaatttttt ...
...and he hasn't lived in the USA since 2009. "Saverin has lived in Singapore since 2009.". Grreeeeeeaaatttttt ...
what the fuck?
"duck" taxes when you don't even live in the country? How does that make any sense?
"duck" taxes when you don't even live in the country? How does that make any sense?
The virtual Berlin Wall is coming to America. It won't be long until you won't be able to leave with your money, maybe not even with your person.
I wired another chunk of my state side monies over yesterday. I better speed up my schedule for moving my money out before the wall goes up.
I wired another chunk of my state side monies over yesterday. I better speed up my schedule for moving my money out before the wall goes up.
I dunno about this kind of thing. He didn't renounce his citizenship until just 6 months ago. In most other scenarios if you did something premeditated 6 months before knowing you would have a large windfall so you didn't have to share that money with whoever was legally entitled to it, it would be pretty cut and dry.
More importantly, why does someone who's about to make 3.5 BILLION give a shit about $67 million in taxes??
More importantly, why does someone who's about to make 3.5 BILLION give a shit about $67 million in taxes??
These politicians are idiots... Never let him come back? Ok, what if Eduardo, said... You know what... fuck these guys altogether.... I'm not going to pay any taxes on it... If you want it, come and get me... I'm sure he could take the 2 billion he was gonna pay in taxes and buy his self some amnesty! Hell, he could buy a small country!
Because he's smart! Why the fuck would you give 67MM to a bunch of fucktards who are only going to waste it...
I wouldn't give them 67 bucks, if I had a choice!
Because he's smart! Why the fuck would you give 67MM to a bunch of fucktards who are only going to waste it...
I wouldn't give them 67 bucks, if I had a choice!
Are you saying someone other than Saverin is entitled to Saverin's money? If so, by what right are they entitled to it?
Fair warning: I'll ignore anything that even hints at "social contract" nonsense or rights given to some by others.
Capital controls are coming boys. Saverin is the poster boy that will kick of all manner of new laws designed to prevent money leaving. Already we have FBAR. Then FATCA goes into effect January 2013. Now we have this proposal to ban people who renounce and confiscate a huge chunk of their money. Next will be controls and confiscation for people who simply expatriate without renouncing.
Lukep and anybody else thinking of expatriating, better get your money out sooner rather than later.
Lukep and anybody else thinking of expatriating, better get your money out sooner rather than later.
Closing the loophole and making sure he pays the full capital gains tax is fine, trying to tax him for years after the fact as well as banning him from the U.S. is a little extreme imo.
The problem is the money has to pass through U.S. banks to reach Eduardo. One call by the right government official and all his U.S. assets can be frozen.
Eduardo had to have realized that this would get picked up by the news. I guess we will find out whether trying to save 67 million ends up being worth it.
The problem is the money has to pass through U.S. banks to reach Eduardo. One call by the right government official and all his U.S. assets can be frozen.
Eduardo had to have realized that this would get picked up by the news. I guess we will find out whether trying to save 67 million ends up being worth it.
Maybe, but that's all speculation. Eduardo is getting shit because he's trying to take his money out of the U.S. before paying U.S. taxes on it. What's the #1 rule? pay yo taxes.
LukeP has paid his taxes, he's free to do whatever he wants with it.
FBAR and FATCA are existing laws. There is also an existing exit tax that is enforced if the IRS determines you are renouncing to avoid taxes - they treat all your assets as if you sold them on the day you renounce and you must pay capital gains even if you did not sell any. Confiscatory in the extreme. This already exists.
Now this grandstanding about banning renouncers is now out there. Sure, it's speculation that something like this would pass, and that more will follow. By then it's too late.
Get out now.
Now this grandstanding about banning renouncers is now out there. Sure, it's speculation that something like this would pass, and that more will follow. By then it's too late.
Get out now.
I'm not going to argue whether or not the IRS is entitled to collect taxes, but yes, as a US citizen he is legally obligated to pay taxes according to the US tax code, just like the rest of us US citizens.
Benefiting from the US in a big way and then trying to not pay taxes you legally owe is pretty lame.
No one likes paying taxes, but rules are rules. If he didn't want to pay a big tax bill when he struck gold he should have stayed in fucking Brazil and tried to create a Facebook there.
Seriously. You don't think there's anything wrong with him becoming a US citizen in 1998, making 3.5 billion dollars over the next 14 or so years, and then giving up his citizenship just before he's about to cash in to try to avoid paying taxes on that money? Seriously?? Seriously????
That fucker should be grateful the US let him in and allowed him to make so much money. Despite all of our problems the US is still a land of opportunity, and anyone who says otherwise is just trying to blame their shortcomings on someone else.
I'd say he owes the US a lot more than $67 million if you really want to get down to it.
Some of ya'll are seriously lunatics...
He's not trying to take his money out without paying taxes... He simply renounced his citizenship before the IPO. It is TOTALLY legal for him to do so.
And these dumbfucks that refuse to address the real issue, would rather alienate smart entrepreneurs... people that create jobs and spend big bucks... then fix the fucking tax system.
Give people a reason to stay... dont force them away with a totally corrupt and broken system.