Home › Forums › Other › OT: So much for paying their fair share of taxes…. Facebook co-founder gives up U.S. citizenship…
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May 11, 2012 at 12:37 PM #19786May 11, 2012 at 12:50 PM #743590Diego MamaniParticipant
The title may lead many to believe the article is about Zuckerberg, who is “the” founder that comes to mind, and who is also US born.
Saverin is Brazilian, so he’s just giving back his US citizenship, which many people apply for mostly for convenience. It would be a real scandal if he were US born.
May 11, 2012 at 12:51 PM #743589briansd1GuestI don’t see that as a big deal. Those American citizens live abroad already. Permanent US residents do pay income taxes, the same as US citizens.
What this shows is that a US passport is not as essential as it used to be. Passports of the European Union, and developed Asian nations such as Singapore allow holders to travel just about anywhere without visas. And if you live within ASEAN, then an ASEAN passport is better than a US passport for doing business in the region.
I think of this as no different than foreign nationals coming to America to set roots and becoming American citizens.
May 11, 2012 at 12:55 PM #743591briansd1GuestI don’t see why this would be a scandal if he were US born.
Americans are so neurotic about their identity that then can’t fathom anyone not wanting to be American. Wow, surprise!
Billionaires and celebrities move to America and become US citizens (Murdock for example). In a globalized world, it’s normal to have a give and take. We are drawing more immigrants than we lose, so it’s still a net gain for us.
May 11, 2012 at 12:55 PM #743592CoronitaParticipantSounds like dodging taxes to me…
May 11, 2012 at 1:03 PM #743593briansd1Guest[quote=flu]Sounds like dodging taxes to me…[/quote]
The guy doesn’t live in America. Why does he need to remain an American citizen and pay US taxes?
What he did makes perfect sense to me.
I’m sure millions of foreign nationals who have become US citizens have given up their original citizenships to avoid ties and taxes to their home countries.
May 11, 2012 at 1:05 PM #743594dumbrenterParticipant[quote=flu]Sounds like dodging taxes to me…[/quote]
What could be more patriotic than that these days?
May 11, 2012 at 1:05 PM #743595AKParticipantHe’s on his own if he gets sentenced to caning for possession of chewing gum.
May 11, 2012 at 1:13 PM #743596CoronitaParticipant[quote=briansd1][quote=flu]Sounds like dodging taxes to me…[/quote]
The guy doesn’t live in America. Why does he need to remain an American citizen and pay US taxes?
What he did makes perfect sense to me.
I’m sure millions of foreign nationals who have become US citizens have given up their original citizenships to avoid ties and taxes to their home countries.[/quote]
He co founded an american company on american soil, no?
And if his net worth is $4billion. What’s the deal with paying extra taxes… What happened to all this rhetoric on taxing the rich????Ah yes, because we really don’t want to tax “those rich”. We really just want to tax rich as defined to be gross W2 income above $250k…. Yeah, makes perfect sense to me…
May 11, 2012 at 1:16 PM #743597briansd1Guest[quote=AK]He’s on his own if he gets sentenced to caning for possession of chewing gum.[/quote]
Actually possession is not illegal in Singapore. The import and sale of gum is illegal.
Chewing gum is a nasty, filthy habit. I would like a ban in America. Look at how dirty our streets are because of gum. Some filthy person stuck gum on my building elevator.
In America this begins in elementary school. Look under the students’ desks. Disgusting uncivilized habit!
May 11, 2012 at 1:23 PM #743598earlyretirementParticipantI also don’t see this as a big deal. I think it would be a bigger deal if the guy was actually born here but even then probably not if he doesn’t plan to live in the USA for the foreseeable future.
Sounds like a smart move to me.
Many American companies will take as many legal steps necessary to avoid paying taxes in the USA. And you know what? It’s wise to take advantage of as many legal steps possible. Now if they are breaking the law it’s one thing. But it would be foolish not to take advantage of paying the least amount of taxes as they can get away with.
There is nothing cool or patriotic about paying lots of taxes.
http://www.usatoday.com/tech/news/story/2012-04-29/apple-taxes/54633774/1
May 11, 2012 at 1:25 PM #743600Diego MamaniParticipant[quote=briansd1]Americans are so neurotic about their identity that then can’t fathom anyone not wanting to be American.[/quote] The issue is not about Eduardo not wanting to be an American. The issue here is not wanting to pay taxes on worldwide income. But I would have done the exact same thing in his place.
May 11, 2012 at 1:53 PM #743603Allan from FallbrookParticipant[quote=Diego Mamani][quote=briansd1]Americans are so neurotic about their identity that then can’t fathom anyone not wanting to be American.[/quote] The issue is not about Eduardo not wanting to be an American. The issue here is not wanting to pay taxes on worldwide income. But I would have done the exact same thing in his place.[/quote]
Yup. Tax evasion is a crime. Tax avoidance is a Constitutionally guaranteed right and if I had that kind of jingle coming my way, I’d be figuring out every angle under the sun on how to reduce my tax burden.
May 11, 2012 at 3:09 PM #743611earlyretirementParticipant[quote=Allan from Fallbrook]
Yup. Tax evasion is a crime. Tax avoidance is a Constitutionally guaranteed right and if I had that kind of jingle coming my way, I’d be figuring out every angle under the sun on how to reduce my tax burden.[/quote]EXACTLY. Legal tax avoidance is just plain wise. It’s easy for Monday morning quarterbacks to say they wouldn’t do the same thing but I can guarantee you if you were about ready to come into a windfall of money like this…. you wouldn’t be thrilled about paying billions of dollars in taxes if you could legally avoid it. There are many other better countries to have a passport from.
He won’t get off totally free like the article mentioned. He will still pay a bundle in taxes to the US government.
May 11, 2012 at 4:05 PM #743617poorgradstudentParticipantHopefully they audit him on his way out. He needed to renounce years ago to really save on his taxes, assuming he doesn’t try to cheat.
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