How to avoid taxes and bite the hand that cared for you.....

[DiamondDave]

Step 1: Seek political asylum in the US, and be granted citizenship when you're 18.

Step 2: Go to Ivy league school and invent a computer social network and call it Facebook.

Step 3: Move to Singapore (because they don't charge capital gains taxes).

Step 4: After finding out that you're going to be fabulously wealthy from your internet endeavor, renounce your citizenship and remain in Singapore.

EDUARDO Saverin, the billionaire co-founder of Facebook who fled to the US as a teenager to escape the threat of kidnapping, has renounced American citizenship to avoid millions of dollars in taxes when the company goes public this week.

The Brazilian-born Mr Saverin, 30, who has lived in Singapore since 2009, joins a growing number of people giving up US citizenship before a possible increase in tax rates for top earners, putting fresh pressure on President Obama to extend expiring tax breaks for the wealthy.

Mr Saverin appeared in a document published by the Internal Revenue Service on Friday listing Americans who had renounced their citizenship. His spokesman said that he made the move last September.

Mr Saverin is one of several students who helped Mark Zuckerberg to start Facebook at Harvard University ten years ago, putting up the cash to launch the fledgling social network. He acted as its first chief financial officer but was squeezed out of the company after an escalating fallout with Mr Zuckerberg.

His original wealth came from his father, an industrialist who fled to Miami with his family in 1993 after discovering that his son's name had appeared on a list of targets for gangs specialising in kidnap for ransom. Eduardo was granted US citizenship at the age of 18.

Facebook's offering values the company at $US96 billion. Mr Saverin's stake stands at 4 per cent, making it worth nearly $US4 billion and leaving him liable for as much as $US600 million in capital gains tax were he to remain a US citizen.

Mr Saverin's spokesman played down the timing of the move, suggesting that it had more to do with geography than any efforts to dodge taxes. Singapore has no capital gains tax, although US citizens are liable for the levy wherever they live.

Cookies must be enabled. | The Australian

Not to mention, the other co-founder of Facebook, Mark Zuckerberg is already working out a way to ALSO avoid paying his fair share of taxes.

And all this is happening just before Facebook goes public with it's IPO.

Yawn... another lefty and the use of SUBJECTIVE 'FAIRNESS'

Seems that fair is always someone else having more taken to get you what you want

 

[DiamondDave]

Yup.

Saverin is a perfect example what's wrong with the world, today.


These people want the benefits of a free society, but object to paying their share for it.

Hang em all.

What about those who want their benefits and don't pay a dime in income taxes?? Same does not apply to them??

Or maybe those who are not paying income taxes should just not receive any benefits or entitlements??

 

[wjmacguffin]

Yup.

Saverin is a perfect example what's wrong with the world, today.


These people want the benefits of a free society, but object to paying their share for it.

Hang em all.

What about those who want their benefits and don't pay a dime in income taxes?? Same does not apply to them??

Or maybe those who are not paying income taxes should just not receive any benefits or entitlements??

As far as I can tell, Saverin wants to avoid paying ALL taxes. The very poor don't pay income taxes but still pay FICA (social security & medicare) and unemployment insurance. And they don't pay income taxes because their income is so low. False equivalence.

 

[DiamondDave]

Yup.

Saverin is a perfect example what's wrong with the world, today.


These people want the benefits of a free society, but object to paying their share for it.

Hang em all.

What about those who want their benefits and don't pay a dime in income taxes?? Same does not apply to them??

Or maybe those who are not paying income taxes should just not receive any benefits or entitlements??

As far as I can tell, Saverin wants to avoid paying ALL taxes. The very poor don't pay income taxes but still pay FICA (social security & medicare) and unemployment insurance. And they don't pay income taxes because their income is so low. False equivalence.

Uhhh.. so does everyone else

It is not a false equivalence... it is the very example of subjective equal treatment when it benefits you or your cause.. and subjective unequal treatment of others when it benefits you or your cause... it goes against the entire concept of equality in treatment

They want and receive benefits without a stake in the game that everyone else puts in... it is EXACTLY wanting benefit at the expense of others

 

[Mr Natural]

"Greed is God."

 

[wjmacguffin]

What about those who want their benefits and don't pay a dime in income taxes?? Same does not apply to them??

Or maybe those who are not paying income taxes should just not receive any benefits or entitlements??

As far as I can tell, Saverin wants to avoid paying ALL taxes. The very poor don't pay income taxes but still pay FICA (social security & medicare) and unemployment insurance. And they don't pay income taxes because their income is so low. False equivalence.

Uhhh.. so does everyone else

It is not a false equivalence... it is the very example of subjective equal treatment when it benefits you or your cause.. and subjective unequal treatment of others when it benefits you or your cause... it goes against the entire concept of equality in treatment

They want and receive benefits without a stake in the game that everyone else puts in... it is EXACTLY wanting benefit at the expense of others

Let me break it down, paraphrase style.

1) editec said, "Sevarin is bad because he wants the benefits of a free society but doesn't want to pay for it. Screw him."

2) You said "editec should feel the same about folks who don't pay income taxes. Maybe they shouldn't get any benefits?"

3) I said, "You cannot compare Sevarin with folks who don't pay income taxes because they still pay FICA while Sevarin wants to avoid paying FICA."

Even if you strip away the FICA argument, you cannot compare people who are too poor to pay income taxes to a millionaire.

 

[Katzndogz]

Yup.

Saverin is a perfect example what's wrong with the world, today.


These people want the benefits of a free society, but object to paying their share for it.

Hang em all.

What about those who want their benefits and don't pay a dime in income taxes?? Same does not apply to them??

Or maybe those who are not paying income taxes should just not receive any benefits or entitlements??

As far as I can tell, Saverin wants to avoid paying ALL taxes. The very poor don't pay income taxes but still pay FICA (social security & medicare) and unemployment insurance. And they don't pay income taxes because their income is so low. False equivalence.

Of course the very poor don't pay FICA, social security or medicare, they don't pay unemployment insurance either. They get. They get welfare or SSI. They exist on the income of others.

 

[peach174]

Severin is not avoiding taxes. He paid 500 million in exit taxes and Schumer and a few other Dem's want him to pay 1 billion and continue to pay more taxes. That is the exact opposite of what we should be doing.

The question should be asked why are so many wealthy moving to Singapore?
Because of their tax system that's why.
Singapore Personal Income Tax - 2012 Guide | Individual Tax in Singapore
I think that America should change the tax system to something similar, so that we have more of the wealthy and companies moving here.
Singapore is growing and moving up because of it.
Singapore now third most
Singapore's 40 Wealthiest - Forbes.com
What we are doing now is punishing those that make it big and they are moving out because of it.
If we want our country to grow and expand we should reform our tax system.
Singapore has 0 capital gains tax, that is bringing in the wealthy and it is expanding their growth.

 

[DiamondDave]

As far as I can tell, Saverin wants to avoid paying ALL taxes. The very poor don't pay income taxes but still pay FICA (social security & medicare) and unemployment insurance. And they don't pay income taxes because their income is so low. False equivalence.

Uhhh.. so does everyone else

It is not a false equivalence... it is the very example of subjective equal treatment when it benefits you or your cause.. and subjective unequal treatment of others when it benefits you or your cause... it goes against the entire concept of equality in treatment

They want and receive benefits without a stake in the game that everyone else puts in... it is EXACTLY wanting benefit at the expense of others

Let me break it down, paraphrase style.

1) editec said, "Sevarin is bad because he wants the benefits of a free society but doesn't want to pay for it. Screw him."

2) You said "editec should feel the same about folks who don't pay income taxes. Maybe they shouldn't get any benefits?"

3) I said, "You cannot compare Sevarin with folks who don't pay income taxes because they still pay FICA while Sevarin wants to avoid paying FICA."

Even if you strip away the FICA argument, you cannot compare people who are too poor to pay income taxes to a millionaire.

And it EQUATES.. they also want to (and do) pay nothing and want the benefits of a free society... even MORESO as they get MORE freebies at the expense of others who do pay

NOBODY is too poor to pay taxes in a society that is supposedly based on equal treatment by government under law... your PERSONAL situation is your PERSONAL situation.. if you indeed have to work a second job to get by because you are now paying the same X% as everyone else, so be it

YOU say you cannot compare because of a SUBJECTIVE analysis of their situation and not an OBJECTIVE view of equality in treatment

 

[whitehall]

A way to bite the hand that bites the hand is to quit "facebook". Can't do it? Quit complaining.

 

[Truthmatters]

I say fuck em.

Take you dead ass somewhere else if you love your HUGE FUCKING PILES OF CASH more thasn you love this country

A billionaire who invests in american banks gives those banks the ability to give millions of average joes a car loan, a mortgage or a home equity line.

One of these days you idiots will understand that basic aspect of the economy.

Dear fucking idiot,

there are many who LOVE this country and will stay instead of selling their citizenship for a pile of cash.

When you are unwilling to pay your taxes and would resort to NOT being an American to avoid losing money when you have a MOUNTIAN of money evern after taxes you are willing to SELL you citizenship for that smaller pile of cash.

Fuck the piece of shit and start praising people with mountains of cash who stay and pay their taxes.

 

[Truthmatters]

George Soros - Wikipedia, the free encyclopedia

you know guys like this

 

[Truthmatters]

when business people start threatening to leave if we dont give them tax cuts I say FUCK their threats

 

[wjmacguffin]

Of course the very poor don't pay FICA, social security or medicare, they don't pay unemployment insurance either. They get. They get welfare or SSI. They exist on the income of others.

To correct myself, the poor who work pay FICA and unemployment because that's deducted from every paycheck. The unemployed do not pay those taxes because they have no money coming in to tax.

I just hate the argument that poor people pay no taxes because their income is so low that they avoid income taxes.

 

[Dr.Drock]

I say fuck em.

Take you dead ass somewhere else if you love your HUGE FUCKING PILES OF CASH more thasn you love this country

A billionaire who invests in american banks gives those banks the ability to give millions of average joes a car loan, a mortgage or a home equity line.

One of these days you idiots will understand that basic aspect of the economy.

Dear fucking idiot,

there are many who LOVE this country and will stay instead of selling their citizenship for a pile of cash.

When you are unwilling to pay your taxes and would resort to NOT being an American to avoid losing money when you have a MOUNTIAN of money evern after taxes you are willing to SELL you citizenship for that smaller pile of cash.

Fuck the piece of shit and start praising people with mountains of cash who stay and pay their taxes.

Uh oh, sounds like you're about to use some more racial slurs or more homophobic attacks. Hopefully no minorities or gay people are on this thread for you to attack again.

What you're advocating hurts the average american. Your class envy and hate for the rich hurts the middle class and poor. When a bank stops giving out loans to the little guy cuz they can't get investments from the rich, make you sure you tell lower class and middle class people that your class envy is more important than their ability to get a car loan or buy a home.

Your sworn enemy, the consumers, can easily fix this. If consumers have a problem with what he's doing, they can cancel their facebook page and his income plummets.

 

[Truthmatters]

Patriotic Millionaires For Fiscal Strength


will you praise these millionares ?

 

[DiamondDave]

when business people start threatening to leave if we dont give them tax cuts I say FUCK their threats

Yeah... hell with those who want to be treated equally and not be responsible for the personal responsibilities of others that are handled by an overbloated government using wrongly usurped power.... I mean how DARE they want equality in treatment in their system

 

[Truthmatters]

Now where did I say consumers were the enemy you lying sack of pig shit?

 

[Truthmatters]

when business people start threatening to leave if we dont give them tax cuts I say FUCK their threats

Yeah... hell with those who want to be treated equally and not be responsible for the personal responsibilities of others that are handled by an overbloated government using wrongly usurped power.... I mean how DARE they want equality in treatment in their system

Patriotic Millionaires For Fiscal Strength


these millionaire say the other ones are lying.

Who do you side with , the ones who toss threats at us to get more tax cuts

 

[DiamondDave]

Patriotic Millionaires For Fiscal Strength


will you praise these millionares ?

1) False premises abound in their mission statement
2) Nothing is stopping them from donating as much as they want to causes that speak to them
3) Nothing is stopping them from paying more into the government in taxation if they so choose