Quantcast

FACEBOOK FOUNDER GIVES UP U.S. CITIZENSHIP TO SAVE $600 MILLION!

Old Salt 2012/05/15 21:43:20
HIGH TAXES, EVEN ON LIBERALS WILL DRIVE MONEY AWAY!
WE NEED TO ARREST HIM AND FORCE HIM TO STAY AND PAY FOR OUR POOR!
Undecided
You!
Add Photos & Videos

Eduardo Saverin, 30, joins a growing number of people giving up U.S. citizenship ahead of a possible increase in tax rates for top earners. The Brazilian-born resident of Singapore is one of several people who helped Mark Zuckerberg start Facebook in a Harvard University dormitory and stand to reap billions of dollars after the world’s largest social network holds its IPO.

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 whoownsfacebook.com. At the high end of the proposed IPO market capitalization, that would be worth about $3.84 billion. His holdings aren’t listed in Facebook’s regulatory filings.

Will the 99% OWS people along with TAX & SPEND Democrats continue to chase off Liberal Harvard graduates with the highest Taxes on the rich in the world???




margret thatcher on socialism

Read More: http://www.businessweek.com/news/2012-05-11/facebo...

Add a comment above

Top Opinion

  • kaZappoo 2012/05/15 22:14:13
    HIGH TAXES, EVEN ON LIBERALS WILL DRIVE MONEY AWAY!
    kaZappoo
    +13
    well what did any one expect ....

    socialism / communism at it's best ,,,,tax the weathy and we'll alive off them ..

    I'd rather work for my wages ......it does instill pride / and work ethics .....something the liberals just dont understand ...

Sort By
  • Most Raves
  • Least Raves
  • Oldest
  • Newest
Opinions

  • Super_Doodles 2012/07/01 21:08:57
    Undecided
    Super_Doodles
    There's a little more to the story. I can't say he is right for avoiding the capital gains tax, but there are regulations that cause concern for foreign business dealings
    http://emergingmoney.com/poli...
  • HarleyCharley 2012/06/06 18:01:14
    HIGH TAXES, EVEN ON LIBERALS WILL DRIVE MONEY AWAY!
    HarleyCharley
    I don't blame him....
  • beach bum 2012/05/20 03:22:03
    Undecided
    beach bum
    joker
  • Tin Man 2012/05/19 01:13:32 (edited)
    Undecided
    Tin Man
    Not surprising the rich would choose to spend their part of the American dream elsewhere. (Clicked the wrong box.) Just another example of the exodus of money when the rich are highly taxed.
  • JERSEYDUDE 2012/05/17 16:25:18
    Undecided
    JERSEYDUDE
    he should leave and never be allowed back in the country
  • Rodney 2012/05/17 04:55:27
    HIGH TAXES, EVEN ON LIBERALS WILL DRIVE MONEY AWAY!
    Rodney
    +1
    When will the left learn that all they are accomplishing is to diminish and lower revenues. This young fella isn't the first and won't be the last. That's the option the wealthy have, they can move. Why do you think Europe now has the fewest Millionaires and Billionaires in the world?
  • D.C. Willis 2012/05/17 02:44:53
    Undecided
    D.C. Willis
  • HiddenDVS1027 2012/05/16 21:01:40
    HIGH TAXES, EVEN ON LIBERALS WILL DRIVE MONEY AWAY!
    HiddenDVS1027
    +2
    He is just the first of many, who come here to make a dollar.... And go off to another country that is cheap. First out sourcing companies now this. Wtf?!
  • Old Salt HiddenD... 2012/05/17 01:34:29
  • HiddenD... Old Salt 2012/05/17 04:49:54
    HiddenDVS1027
    +2
    Agreed. I'm Hispanic/native American. I'm against illegally coming to this Country. My Mother has worked so hard all her life, and had suffered a stroke last year. And we had a hard time getting her help. Because, they were no funds. Crack heads, drunks, illegal immigrants, women with a outrageous number of kids were on the top of the list. I was like wtf, seriously?! I don't think it is right at all. I say do for our own born in this Country than others that are not.
  • Old Salt HiddenD... 2012/05/17 15:05:08
  • HiddenD... Old Salt 2012/05/17 15:12:37
    HiddenDVS1027
    +1
    I know we are all immigrants. My family line is from Spain and different Native tribes.
    I didnt mean to sound harsh but I agree with you I don't think we should take care of everyone's medical and living expenses. Because finically we are in a bind.
    I see it this way. . . People come here because we offer them assistance. If we take that away, maybe it will help with our debt.
  • Super_D... Old Salt 2012/07/01 21:10:57
    Super_Doodles
    RON PAUL 2012!!! The more the merrier for the r3VOLution
  • voice_m... HiddenD... 2012/05/17 19:15:14
    voice_matters
    he is allowed to move to any country he wants. he is allowed to denounce his citizenship. he is allowed to take his money with him. maybe you can tell me why you think he sbhouldn't?
  • HiddenD... voice_m... 2012/05/19 02:35:45
    HiddenDVS1027
    For one reason. I think Americans should be the only ones in America to work in America.
  • voice_m... HiddenD... 2012/05/19 12:21:49
    voice_matters
    libby he was an american when he co-created facebook
  • Michaelene 2012/05/16 19:16:00
    HIGH TAXES, EVEN ON LIBERALS WILL DRIVE MONEY AWAY!
    Michaelene
    +1
    Interesting, he left the socialist and communist led nation of Brazil and now is leaving the "progressive" USA. What does he know that we don't?

    He's not the only one, many liberal billionaires have left America but their money still stays safe elsewhere. New Zealand is another hot spot for those who can afford to leave.

    More taxes, fees, tolls, service charges etc are nickel and diming the rest of us to death both middle class and the working poor.
  • Kate 2012/05/16 19:08:53
    Undecided
    Kate
    OK, I'm officially confused! The guy is Brizillian born, living in Singapore for the past 2 year. The info I've found on him lists his citizenship as Brazilian, so how is he giving us his US citizen ship? When did he become a US citizen?
  • voice_m... Kate 2012/05/16 20:34:39
    voice_matters
    +1
    too bad seeing he has applied for citizenship of singapore
  • Rodney Kate 2012/05/17 05:03:08
    Rodney
    +2
    He has held dual citizenship since 1993 when his father and the family moved here to escape the criminals there who had several family members on a Kidnap List. He gave up his US citizenship, but still maintains his Brazilian citizenship.
  • Old Salt Rodney 2012/05/17 15:06:36
  • Kate Rodney 2012/05/17 15:51:04
    Kate
    +2
    Thanks. I did finally find that info.
  • Rodney Kate 2012/05/18 18:25:14
    Rodney
    +2
    This is all much ado about nothing.
  • BurntOffering 2012/05/16 19:08:28
    Undecided
    BurntOffering
    I hope someone kidnapps him, wants a ransome in American currency.
  • HiddenD... BurntOf... 2012/05/17 04:51:46
    HiddenDVS1027
    Lol! And puts a tax for the time he was kept. Inflation is a bitch. Lol
  • A Founding Father 2012/05/16 18:32:24
    Undecided
    A Founding Father
    Hey, Salty, isn't this just a wonderful thing - another example of the rape, pillage and plunder, then go away and leave the victims without their money? The GWB Administration made it perfectly legal and preferable to leave all "earnings" from "offshore"
    sources in "offshore" bank accounts to be reinvested "offshore" where another industry
    could be had to make the "offshore" havens the economies of the future. So, this is just
    another small step in the lunacy that possesses us to encourage someone, anyone, everyone to take our money and make themselves rich, while we work harder to have more with which to continue and expand this sort of "economic suicide".

    Now, even two wage earners per family is hardly enough to survive. And, we are so very proud of those to whom we have provided "auto elevators" to keep their cars near their bedrooms on the third floor. We are winning, Salty, and soon will have given all we have and indebted ourselves to a degree without hope of ever repaying, and we will win the November election and cement the certainty of our personal bankruptcies.

    You are on top of this phenomena, Salty, keep the good news flowing.
  • Old Salt A Found... 2012/05/17 01:37:54
  • cynsity 2012/05/16 16:52:06
    HIGH TAXES, EVEN ON LIBERALS WILL DRIVE MONEY AWAY!
    cynsity
    +1
    Good! I mean GREAT! taht is what everyone who has teh means to do so should do. I hope the rich in the USA and teh rich in France and teh rich in GB and anywhere else where the government can't get their people to stand on their own leave. I hope they not only leave I hope they buy their own set o private isleands set up their own nation and remove all their money from any and all taxing systems.
    Let them only have to pay sales tax when they have to buy things.... lets see how long it take for those who like to tax and spend with the RICH peoples money like to do it when they are teh rich people....
  • LaurenGirl594 2012/05/16 16:49:16
    Undecided
    LaurenGirl594
    +4
    You have to love Liberals. They support taxing the rich, but them find a loop hole and leave the country.
  • COCO LaurenG... 2012/05/16 17:15:04
    COCO
    +4
    They are hypocrites.
  • voice_m... LaurenG... 2012/05/16 23:16:20
    voice_matters
    typical lib ignorance. the guy already paid all the taxes on the money and the investments. if he pulls the money out of american accounts he will still pay the taxes on that money.
  • LaurenG... voice_m... 2012/05/23 16:34:47
    LaurenGirl594
    He could not have paid taxes on an income that he had not earned. Remember FaceBook IPO was last Friday which means that his payday wold also be that same Friday.
  • voice_m... LaurenG... 2012/05/23 17:16:00
    voice_matters
    already paid taxes on every cent.
  • LaurenG... voice_m... 2012/05/23 17:19:35
    LaurenGirl594
    How, I really mean how. That is like saying that your pay next year you have already paid taxes on.
  • voice_m... LaurenG... 2012/05/23 17:33:10
    voice_matters
    he made money at facebook and paid his taxes. if the stocks ar in a us account when he sells them he pays the taxes. so tell me how he didn't pay the taxes he owed
  • LaurenG... voice_m... 2012/05/23 18:32:04
    LaurenGirl594
    As a non American Citizen, if he sells his stock in FaceBook through a foreign broker. He would not pay US federal income taxes.

    If you fall under the non-resident alien category and the only business you have in the U.S. is in investments (stocks, mutual funds, commodities) within a U.S. dollar-denominated brokerage firm or other agent, you are subject to the following tax guidelines. In terms of capital gains, non-resident aliens are subject to no U.S. capital gains tax, and no money will be withheld by the brokerage firm. This does not mean, however, that you can trade tax free - you will likely need to pay capital gains tax in your country of origin. In terms of dividends, non-resident aliens face a dividend tax rate of 30% on dividends paid out by U.S. companies. However, they are excluded from this tax if the dividends are paid by foreign companies or are interest-related dividends or short-term capital gain dividends. This 30% rate can also be lower depending on the treaty between your home country and the U.S., so it is important that you contact your brokerage firm to verify the rate. If you are a resident alien and hold a green card or satisfy the resident rules (183 days), you are subject to the same tax rules as any U.S. citizen.

    For more information, see IRS Publi...











    As a non American Citizen, if he sells his stock in FaceBook through a foreign broker. He would not pay US federal income taxes.

    If you fall under the non-resident alien category and the only business you have in the U.S. is in investments (stocks, mutual funds, commodities) within a U.S. dollar-denominated brokerage firm or other agent, you are subject to the following tax guidelines. In terms of capital gains, non-resident aliens are subject to no U.S. capital gains tax, and no money will be withheld by the brokerage firm. This does not mean, however, that you can trade tax free - you will likely need to pay capital gains tax in your country of origin. In terms of dividends, non-resident aliens face a dividend tax rate of 30% on dividends paid out by U.S. companies. However, they are excluded from this tax if the dividends are paid by foreign companies or are interest-related dividends or short-term capital gain dividends. This 30% rate can also be lower depending on the treaty between your home country and the U.S., so it is important that you contact your brokerage firm to verify the rate. If you are a resident alien and hold a green card or satisfy the resident rules (183 days), you are subject to the same tax rules as any U.S. citizen.

    For more information, see IRS Publication 519: U.S. Tax Guide For Aliens.


    Now if you read this you probably going to say that he will pay his capital gain taxes in Singapore.
    http://www.globalpropertyguid...

    Notice that Singapore has no Capital gains taxes. As for the dividend tax, first you have to understand what is a dividend.

    Dividend :stockholder's share of profit: company profits paid pro rata to stockholders, either in cash or in more shares

    So the question is has he or will he see a dividend, well he could not have a dividend since there is no profit per share during this quarter. That is if FaceBook plans on pay a dividend. Now the board of directors have already stated they will not be paying a dividend but retained earnings. I will explain, they will be re-investing any surplus profit back into the company for growth.

    Now maybe you understand that he is a liberal whom learn the loop hole, move out of country, renounce his citizenship and became a citizen in a country with 0 capital gains tax.
    (more)
  • voice_m... LaurenG... 2012/05/23 18:37:18
    voice_matters
    thanks for showing he has paid his taxes
  • flyingseaturtle BN 2012/05/16 16:41:15
    HIGH TAXES, EVEN ON LIBERALS WILL DRIVE MONEY AWAY!
    flyingseaturtle BN
    +1
    I don't blame him.
  • sammanilla 2012/05/16 16:12:28
    HIGH TAXES, EVEN ON LIBERALS WILL DRIVE MONEY AWAY!
    sammanilla
    +1
    Higher taxes have always driven people away and govt keeps raising taxes in order to make up the difference.

    Just look at California. Corporations leave and Brown says they're billions in debt and have to raise taxes again.

    NY, the same. And it means higher taxes for us who stay.
  • nightcrawler2005 2012/05/16 16:03:05
    HIGH TAXES, EVEN ON LIBERALS WILL DRIVE MONEY AWAY!
    nightcrawler2005
    +3
    Smart Lad. He's Brazilian and living in Singapore which means he already has two other citizenships. If that's what it takes to get rid of the long arm of the IRS then go for it. The more your country penalizes the wealthy the more they will just pack up and move out. Taking their money, property, businesses and jobs with them. Other than direct land everything is transferable.
1 2 3 4 5 6 7 ... 10 Next » Last »

See Votes by State

The map above displays the winning answer by region.

News & Politics

2014/10/20 09:56:05

Hot Questions on SodaHead
More Hot Questions

More Community More Originals