I guess it's just one of those Liberal 1% ploys...
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 his tax bill.
Facebook plans to raise as much as $11.8 billion through the IPO, the biggest in history for an Internet company. Saverin’s stake is about 4 percent, according to the website Who Owns Facebook. At the high end of the IPO valuation, that would be worth about $3.84 billion. His holdings aren’t listed in Facebook’s regulatory filings.
Saverin, 30, joins a growing number of people giving up U.S. citizenship, a move that can trim their tax liabilities in that country. The Brazilian-born resident of Singapore is one of several people who helped Mark Zuckerberg start Facebook in a Harvard University dorm and stand to reap billions of dollars after the world’s largest social network holds its IPO.
“Eduardo recently found it more practical to become a resident of Singapore since he plans to live there for an indefinite period of time,” said Tom Goodman, a spokesman for Saverin, in an e-mailed statement.
“Eduardo recently found it more practical to become a resident of Singapore since he plans to live there for an indefinite period of time,”
Hilarious.
Another top producer headed off to Gault's gultch.
And who could blame him - after all the president has been running his mouth about how high value producers are an evil scurge- and are not paying their "fair" share.
Now the US will miss out on a whole lot of taxes just from this one producer.
The US will also miss out on losts of stuff he would buy here. We need to keep pushing our richest citizens out and replace them with with needy consumers....that should work out well.
The left is angry because they are now being judged by the content of their character and not by the color of their skin.
“Eduardo recently found it more practical to become a resident of Singapore since he plans to live there for an indefinite period of time,”
Hilarious.
Another top producer headed off to Gault's gultch.
And who could blame him - after all the president has been running his mouth about how high value producers are an evil scurge- and are not paying their "fair" share.
Now the US will miss out on a whole lot of taxes just from this one producer.
Here's to LJ- Long live John Gault!
This is a prime example of what makes America great. The two co-founders of Facebook came up from the 99%... and through their own labor... became part of the 1%... a trip that any of us can take. And some of us will achieve everything we ever wanted... and some of us will end up as working stiffs and venting on forums like 285 Bound. I've taken that trip, have had my 15 minutes of actual fame, a few times over, and now I hack from home, programming and occasionally getting a chance to get involved in my first love... live entertainment and writing. Either way, up or down, I'm happy.
And then there is the prime example of what turns the America dream into a nightmare. When you get to that 1%... the liberals want to take it away from you. Bon Voyage Mr. Saverin.
jmc wrote: Slave mentality, "Hope the masters give me a little"
What a bunch of pathetic milksops.
Or the opposing view? The rich are only useful to leach off off, bleed them till they can barely walk. Don't give them any credit for hiring, providing services, providing medical insurance.
Condemn Wal-Mart but neglect to note that by reducing prices it has raised relative wealth.
Thomas Sowell: There are no solutions, just trade-offs.
jmc wrote: Slave mentality, "Hope the masters give me a little"
What a bunch of pathetic milksops.
Or the opposing view? The rich are only useful to leach off off, bleed them till they can barely walk. Don't give them any credit for hiring, providing services, providing medical insurance.
Condemn Wal-Mart but neglect to note that by reducing prices it has raised relative wealth.
I don't know Fred, seems to me the rich are doing very well for themselves in this country.......and have been for decades, even when the tax rates were higher. There will always be the greedy rich who want to keep it all, and not participate in this great nation and that's OK....they are welcome to leave. There are many more that are grateful for the opportunity this country gives them to be entrepreneurs, those are the ones who will create opportunities for others, not the take my money and run kind.
