Anyone notice the tone of the comments? Financial berlin wall being the most frequent.<p>Sheer lunancy. Saverin is a world citizen who lived in the US for a time while it was prudent and now longer does. The policies that cause this should be looked at rather than creating more broken policies.
What happens under this law if you are already living in the US and renounce your citizenship for tax reasons and have no other country of which you are a resident? Do you get deported to NULL?
I wonder what would happen if it wasn't such a waste of money to give it to the government. Would people be
more inclined to stick around and do so? I don't blame him one bit, seems like most of his money would end up bailing out a bank or something equally disagreeable.
Will this also include corporations that use foreign incorporation to reduce US taxes?<p>And I can't connect <i>…owns an estimated 4 percent of Facebook and stands to make $4 billion…</i>
with <i>…help him duck up to $67 million in taxes</i>.<p>He is allegedly avoiding a 1.7% tax on his projected $4000 million? It sounds a bit of a stretch to say he'd renounce citizenship just to save what amounts to trading noise. (e.g. AAPL and GOOG each moved more than that in the last 3 hours, in opposite directions.)
Wow, it is incredible how the US is becoming more and more of a police state day after day. The currency devaluation by the Fed, the TSA, the patriot act, the bail outs, and now trying to prevent by force of the law citizens escaping the country.
I really wish politicians were willing to sit back and do nothing for one-off non-problems. I can't say I approve of Saverin's maneuvering, and dodging taxes by renouncing citizenship is in poor taste, but do we really need a law just for this one guy?