Proud to be a Filthy Liberal Scum

Loud, Proud and I don't care about hurting a conservative's feelings!

Renouncing US Citizenship Is The New Patriotism!

But only if you do it for money. Eduardo Saverin, the co-founder of Facebook has decided that avoiding capital gains taxes is more important than being an American. The right is very excited about this, apparently.

So just to be clear, renouncing citizenship because you feel that the United States is wrong for killing tens of thousands of children in foreign countries makes you the worst kind of traitor there is but renouncing citizenship because you don’t want to pay the taxes you owe is pure patriotism and very heroic.

To be fair, if you take up arms or incite violence against America you are, indeed, a traitor. On the other hand, if you made your money off the internet, which ONLY exists because of the government, and now you are refusing to give back a fraction of it, you are a scumbag and a perfect example of the greed of the conservative movement.

The right wing motto: “I got mine, screw you.”

Here’s Elizabeth Warren to explain what a worthless worm Saverin is:

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5 thoughts on “Renouncing US Citizenship Is The New Patriotism!

  1. melvin (dwayne) on said:

    Taxes should forced on them that make money from us citizens anyway, and as far as his citizenship that should be limited also, just because your a citizen of another country or none at all, if you make money here you should liable to pay taxes on it ! Im tirecof the conservitive right ripping off this country !

  2. Jimi on said:

    I do not see how this could possibly apply to the money he already made being taxed… really do not see a grandfather clause being applicable here.

  3. Gotta love Elizabeth. I don’t understand the intricate workings of finance, but I know while this may be right wing it isn’t right. Money and Profit truely are the only things that matter to the GOP and the 1%.

  4. Bruce C. Miller on said:

    From the May 12, 2012 online Forbes Magazine:

    “Now, it is true that there may well be future savings on his tax bills. Any profits or income he makes from the date of citizenship renunciation onwards will obviously be free of US taxation. And by timing his renunciation well before Facebook’s IPO he will also be taxed not on the IPO value of his stock, but on whatever was the value in the private, secondary, markets for Facebook stock at that time. But his tax bill will be based upon a calculation of his selling his entire estate and booking the profits. This obviously includes his entire Facebook stake: something that it doesn’t appear that he is selling in the IPO.

    “So, in current terms, the net effect of his citizenship renunciation on his immediate tax bill is to increase it, hugely. For it will, at minimum, start with the idea that he’s just made a $3.5 billion or so profit (adjusted downwards for the difference between the private market value of Facebook last fall and the IPO price) on his Facebook stock which he got originally for minimal amounts of money. At the standard 15% long term capital gains rate that’s near $500 million right there. In the long term, yes, almost certainly a reduction in his tax bills, but at the cost of pushing up his current tax payment.”

    So, I guess he’s not the grandchild of Ayn Rand, after all…

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