Tax Delinquents Who Work For IRS Get Big Bonuses



Run, Eduardo, Run: Avoiding Taxes By Renouncing Citizenship Would Be Harder Under Bill

05/18/2012

If you are thinking about it, go now. This may be your last chance. If Obama and the Democrat- led Senate are reelected, it’s over. I mean the good ole USA. I mean, everything that made this country great. The CONSTUTITION and LIBERTY are done, and not coming back. We won’t be able to overcome it with 12-20 million ILLEGALS living in the US with their many anchor babies. Not to mention, the never ending flood running over the border who will vote Democrat for free stuff and amnesty. ILLEGALS have no loyalty to this country. Like many democrats, ILLEGALS don’t know what made America the best country in the entire world…. at one time.  But not anymore. In Obamaland, many more US citizens are deporting themselves to escape high taxes aka Socialism.

Look, he is not the only Eduardo. —> Quarterly Publication of Individuals, Who Have Chosen To Expatriate

Even the liberal media admits it.

(TIME) —some experts say thousands — of applications languishing in various U.S. consulates and embassies around the world, waiting to be processed.

While a small number of Americans hand in their passports each year for political reasons, the new surge in permanent expatriations is mainly because of taxes.

More and more Americans are choosing to stop being citizens. Government records show 1,280 gave their U.S. passports up in 2011 compared with 235 in 2008. READ MORE

Eduardo Saverin is not evading taxes. He is Renouncing his US Citizenship, and playing by the rules. He gave up his U.S. citizenship. Saverin is saying get you’re greedy, lazy, corrupt, and Socialist hands off my money America. Smartest thing he has done yet.

Mail Online:

Eduardo Saverin, the billionaire co-founder of Facebook, has given up his U.S. citizenship ahead of the social network’s initial public offering in a move that could slash his tax bill………………

He moved to the U.S. in 1992 and became a citizen in 1998, his spokesman Tom Goodman said.

‘Eduardo recently found it more practical to become a resident of Singapore since he plans to live there for an indefinite period of time,’ Goodman told Bloomberg. READ MORE

 

Singapore does not have a capital gains tax. Good for Eduardo.

 

The fact people are renouncing their US citizenship because of high taxes should tell Congress that we need:

a simple flat tax of one low rate with no deductions or special interest loopholes. We also want lower taxes at the federal, state, and local levels. We want to keep the Internet free from taxes as well.

 

We need to reverse Socialism in the US everywhere is lurks its ugly head.  The US needs less taxes, not more.

Congress.org:

By Ryan Teague Beckwith
May 18, 2012 – 3:28 p.m.

Should millionaires be allowed to evade taxes by renouncing their citizenship?

Facebook co-founder Eduardo Saverin renounced his citizenship last year. Although he denies it was for tax reasons, he would owe between $67 and $100 million in taxes after Facebook goes public, reports CQ’s Ambreen Ali.

Democratic Sens. Chuck Schumer (N.Y.) and Bob Casey (Penn.) have introduced legislation in response.

The senators plan to introduce legislation Thursday that would require the IRS to assume that individuals who renounce their citizenship and who have a net worth of $2 million — or average annual taxes of at least $148,000 over the past five years — are doing so for tax reasons.

The bill shifts the burden of proof so that every individual meeting that threshold must provide what Schumer described as “a very, very good reason” to the IRS.

A 1996 tax law bars those who renounce citizenship to avoid taxes from returning to the United States.

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