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So Chucky Schoomer is pissed off at some Brazilian guy who was a co-founder of FB. He was ranting on TV today that because the guy renounced his citizenship to avoid a petty little $67 million tax bite on the IPO that he's not welcome any longer in Schoomerica.

Except - the guy lives in Singapore, renounced his citizenship a year ago and is probably laughing his rich Brazilian ass off at what a complete fucktard Schoomer is. Frankly, if I was him and stood to gain $67 million extra bucks by not being an American I'd sign up for that program. I'm pretty sure if Dear Leader gets his bid for election to the Office Of Perpetual Hope & Change there will be a lot of people haulin' ass to Singapore, regardless of where they were born. Taxmeggedon will pretty much trump the support a lot of those big earning Libs currently have for Dear leader.

Thanks Schoomy, for the laugh.
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If they pass the law I have little sympathy for Saverin. The U.S. was good enough for his family to flee to for safety. It was good enough for him to get a top notch education in the relative safety of our borders. It was good enough for him to become an entrepenuer and built a multi-billion dollar business on within the framework we all built and maintained. But it's not good enough for him to help support the system that helped him. Yeah, I say ban the shmuck. You pay to play or you're not allowed in our club.

I don't buy the "Global Citizen" BS either. You can still globetrot spending money and investing all across the world while retaining your U.S. citizenship. Let's see how far he gets as a "world citizen" when he on business in Russia and he gets indefinitely jailed for a minor crime or while in Mexico he gets kidnapped by some cartel for ransom. Whose State department is going to come save him then? Dirt bag.
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I don't know who this Schoomer guys is, but my own personal opinion is that if Saverin wants to denounce his citizenship, then so be it. We have that right in this country. More to him.

He made his money, not in an "American Market" as the 'mericans like to say(takin' our jorbs!), but a free market society. And in this global economy stating that he made ALL his money off the American People is just naive.

That said however, I'd say good fucking luck if he ever wants to get it back. *REJECTED*
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bjlillo wrote:
I thought the rich didn't pay taxes.


I guess this guy thought it was cheaper to renounce his citizenship than get some ace lawyer/accountant to push his money through loopholes and hide most of it from the IRS.
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MWChapel wrote:

He made his money, not in an "American Market" as the 'mericans like to say(takin' our jorbs!), but a free market society. And in this global economy stating that he made ALL his money off the American People is just naive.


Had he not started in the U.S., the most connected country, then it's hard to imagine facebook would have taken off starting somewhere like Singapore or Brazil. It might never have competed and won against MySpace. So, I think the opposite, if wasn't for the infrastructure and business climate in the U.S., he would never had been successful, at this venture.

Quote:
That said however, I'd say good fucking luck if he ever wants to get it back. *REJECTED*

Hopefully that is a provision of the ex-Patriot act they have proposed. I know they are planning on enforcing the law already in place that says if you renounce you aren't allowed back in.
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MWChapel wrote:
He made his money, not in an "American Market" as the 'mericans like to say(takin' our jorbs!), but a free market society. And in this global economy stating that he made ALL his money off the American People is just naive.


If it wasn't for the American judicial system, Saverin would rather pointedly NOT have billions of dollars.
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To bar him from re-entering the country would be nasty, spiteful, petty and very "third world"-ish.

The US is a better country than that ...... i hope.



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Drew1365 wrote:
Keep in mind that once the TV cameras turn off, Chuck Schumer ceases to exist.


Chuck Schumer makes me embarrassed to have a 'D' on my voter registration in so very many ways. Either it's his cozy relationship with banks, or his suggestion to bring back the fairness doctrine, or...
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MWChapel wrote:
I don't know who this Schoomer guys is, but my own personal opinion is that if Saverin wants to denounce his citizenship, then so be it. We have that right in this country. More to him.

He made his money, not in an "American Market" as the 'mericans like to say(takin' our jorbs!), but a free market society. And in this global economy stating that he made ALL his money off the American People is just naive.

That said however, I'd say good fucking luck if he ever wants to get it back. *REJECTED*


This. Mostly to annoy people who hate "This." posts, but still.... this.
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So when somebody leaves the US to dodge the draft, they are yellow commie sypathizers. When they leave to avoid paying taxes to the country where they made their fortune, their....smart. Money really is more important than anyting thing else I guess.
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bippi wrote:
Drew1365 wrote:
Keep in mind that once the TV cameras turn off, Chuck Schumer ceases to exist.


Chuck Schumer makes me embarrassed to have a 'D' on my voter registration in so very many ways. Either it's his cozy relationship with banks, or his suggestion to bring back the fairness doctrine, or...


Yeah, he's powerful, he sometimes uses that power for good, I guess he's better than the alternatives, but he really makes me hold my nose sometimes.
 
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Another rich twat crying about taxes. Or whatever. See ya.
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I don't get why he bothers that much about the tax.
$100M, even, is a minute (2.5% ) proportion of the $4Bn that he is getting today - almost certainly without any effect on his lifestyle.
(OK, if he sold significantly more shares than necessary to pay that tax bill it might seriously impact the share price)

What surprises me is that the bill is so low - is Capital Gains Tax really that low in the USA?
Or that it is so high given that reinvestment (which is where most of the money has/will have gone is typically effectively tax free in practice).

Capital Gain is usually the income tax avoidance mechanism of choice for those who are rich enough for it to matter. As a result of this sensible governments usually tax it at a level that is a fairly high proportion of the basic income tax level (with suitable provisions to only take the tax when the gain becomes cashable and usually to allow for inflation)
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Rulesjd wrote:
So when somebody leaves the US to dodge the draft, they are yellow commie sypathizers. When they leave to avoid paying taxes to the country where they made their fortune, their....smart. Money really is more important than anyting thing else I guess.



You're missing the obvious part. If Paul Ryan or Eric Cantor was leading the charge to "get" Saverin, that first post would be from one of the liberals here, and BJ would have made the same "rich don't pay taxes" joke and point out how the Republicans were the only ones trying to stop this guy from ducking his tax bill.
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andyholt wrote:
I don't get why he bothers that much about the tax.
$100M, even, is a minute (2.5% ) proportion of the $4Bn that he is getting today - almost certainly without any effect on his lifestyle.
(OK, if he sold significantly more shares than necessary to pay that tax bill it might seriously impact the share price)

What surprises me is that the bill is so low - is Capital Gains Tax really that low in the USA?
Or that it is so high given that reinvestment (which is where most of the money has/will have gone is typically effectively tax free in practice).

Capital Gain is usually the income tax avoidance mechanism of choice for those who are rich enough for it to matter. As a result of this sensible governments usually tax it at a level that is a fairly high proportion of the basic income tax level (with suitable provisions to only take the tax when the gain becomes cashable and usually to allow for inflation)


The thing is that if he's not in the US and his money isn't in the US, he's just subject to a giant pile of rules about having money overseas. The US created some pretty annoying laws about reporting money in your foreign bank accounts (to prevent rich people from just sending all their money to Switzerland and calling it good). BUT there is a lot of people renouncing citizenship because of this huge PITA. Even people whose money is so low that they don't actually owe any taxes on their money have to go through a huge song and dance hiring expensive accountants to figure out the pile of paperwork. They have to do all of this reporting (and sometimes paying taxes if you actually have a lot of money) on money that they didn't earn in the US or having any connection the US at all. Some foreign banks are even refusing American citizen ex-pats as customers because it's an annoyance to the bank too.

I tried to find the article from CNN that I read a little while ago (around tax-time I think) but I couldn't find it... here's a NYtimes article that's a bit shorter... http://www.nytimes.com/2010/04/26/us/26expat.html
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bippi wrote:
Drew1365 wrote:
Keep in mind that once the TV cameras turn off, Chuck Schumer ceases to exist.


Chuck Schumer makes me embarrassed to have a 'D' on my voter registration in so very many ways. Either it's his cozy relationship with banks, or his suggestion to bring back the fairness doctrine, or...


Well keep working at it, and someday you will may get a C on your voter registration!

DOn't worry about ever getting an A, only Canadians get those...
 
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DWTripp wrote:
Frankly, if I was him and stood to gain $67 million extra bucks by not being an American I'd sign up for that program.


Do you hate america? If I had a few millions bucks, let alone billions, no sum of additionnal money would make me live away from the place I love, especially if I was convinced it's the absolutely best country in the world.
Quote:

I'm pretty sure if Dear Leader gets his bid for election to the Office Of Perpetual Hope & Change there will be a lot of people haulin' ass to Singapore, regardless of where they were born. Taxmeggedon will pretty much trump the support a lot of those big earning Libs currently have for Dear leader.

Thanks Schoomy, for the laugh.


There are an awful lot of people who do not understand the nature of taxes.
Does a waitress in a restaurant gets to keep the money she collects at the tables?
In a modern country we are all in that position; the money we collect is not ours, only a part of it is; we use an infrastructure and only that infrastructure allows us to make money, and the more money we make, the bigger use of the infrastructure we make.
Those not convinced can start a business in the middle of sahara (without a satellite phone) if they need to be convinced.

But then they are also a lot of "patriots" who understand that fairly well but do their best to keep all they can get their hands on. They are nothing but thieves; it's not a very abstract "country" or "nation" they steal, it's from your very pocket Tripp, unless you are also one of these "entrepreneurs" who makes millions each time they fart.
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HavocIsHere wrote:



In a modern country we are all in that position; the money we collect is not ours, only a part of it is; we use an infrastructure and only that infrastructure allows us to make money, and the more money we make, the bigger use of the infrastructure we make.
Those not convinced can start a business in the middle of sahara (without a satellite phone) if they need to be convinced.


It's amazingly obtuse "understandings" like this that are an excellent reminder of how low an entire society can sink. Why not just lecture me on the clear fact that a King or Lord owns your production and allows you to keep what he determines you need in order to survive and breed a new generation of good little serfs.

Europeans must enjoy their humble pie and worship King Infrastructure because without the Lord they would have naught but their own ineffectual and meaningless existence. Just remember, the penalty for hunting in the Kings forest is death. He owns the infrastructure, he owns the serf's toil and it is only at his whim that they are allowed to keep anything.

Quote:
But then they are also a lot of "patriots" who understand that fairly well but do their best to keep all they can get their hands on. They are nothing but thieves; it's not a very abstract "country" or "nation" they steal, it's from your very pocket Tripp, unless you are also one of these "entrepreneurs" who makes millions each time they fart.


I owe nothing to a government. You Europeans seem to have had trouble with that concept for centuries and I can't really blame you. It's in the cultural DNA to be subservient to a parasitic bureaucracy that demands it's share first and after robbing one of their toil returns a meager amount along with the message that it's the employer, not the government that is the thief. such people have been bred to accept and to serve and to meekly accept what the faceless Lords of Infrastructure allow them to have.

That ilk, with that cultural DNA is not genetically capable of being anything but in servitude to an all-encompassing government master. From the earliest agrarian communities where one chief said when to plant, when to harvest and who got to keep what, you've been bred to serve for thousands of years. And while generations of ancestors were breaking your backs and laying face-down in supplication to the great chiefs and kings who "allowed" them to build "their" road, one found one's own self a lucky man indeed to be privileged to use the very road his sweat and his back built.

So while ya'll were letting a few rule you for centuries, my ancestors were telling them to fuck off and were exploring, adventuring, pioneering, settling and kicking ass in a world of their making. I paid my share of taxes that built my roads in this nation. My allegiance isn't to the government of America and anyone who actually understands what patriotism is understands that. Doesn't matter to me what this Brazilian guy does. He's a free man and frankly, if I had the same wealth he did I'd shelter the shit out of it for the simple reason that giving the current American government more and more and more money is like constantly reloading a pistol for a baby and checking in periodically to see who the latest victim was.
 
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Quote:


You, and your ilk, are not genetically capable of being anything but in servitude to an all-encompassing government master.

No. My ilk is just able to understand what a government is. You view it as some sort of evil entity, while I and my ilk view it as a group of people we elect.
As for your ancestors, well they bent their back to the same kings, parasites indeed like that brazilian moron, as my own ancestors. As much as it pains me, it takes only a few generations to get to a common ancestor. But fortunately that DNA stuff found a way to compensate.
 
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bippi wrote:
Drew1365 wrote:
Keep in mind that once the TV cameras turn off, Chuck Schumer ceases to exist.


Chuck Schumer makes me embarrassed to have a 'D' on my voter registration in so very many ways. Either it's his cozy relationship with banks, or his suggestion to bring back the fairness doctrine, or...


Not to mention his offhanded remarks about the public during the Stimulus wrangling. "Those little, porky earmarks? The American people don't care!"

Bullshit.
 
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[q="HavocIsHere"]
Quote:



No. My ilk is just able to understand what a government is.


Of course you do. Your government told you exactly what to think and you followed orders. Which was kind of my point.
 
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