Welcome to the APBWeb.
Results 1 to 7 of 7
  1. #1
    Jenna's Avatar
    Jenna is offline sheep
    Premium Lifetime Member
    Join Date
    06-11-06
    Posts
    24,143
    Rep Power
    4764592

    Senators propose "Ex-PATRIOT" act to tax former US citizens who renounce US citizenship to avoid paying taxes

    But Saverin renounced that citizenship last year, before the company he helped found announced its intentions to go public. He has lived in Singapore since 2010, according to reports.
    While Saverin's spokesman has maintained that he changed his status in part because he plans to remain in Singapore, it's widely believed that he also wants to take advantage of local laws that specify a personal income tax rate of 20 percent and no capital gains tax.


    The two Democrats unveiled a bill called the Ex-PATRIOT Act, or the "Expatriation Prevention by Abolishing Tax-Related Incentives for Offshore Tenancy" Act. It may never even rise to the level of committee consideration, but if it does pass, it would require Saverin and others who renounce citizenship to pay taxes at a 30 percent rate on any U.S. investment.


    Read more: 'Ex-PATRIOT Act' would tax Facebook's Eduardo Saverin - POLITICO.com

  2. #2
    Captain America's Avatar
    Captain America is offline Reed and Malloy were my FTOs
    Supporting Member Lvl 1
    Verified LEO
    Site Moderator
    Join Date
    05-01-08
    Location
    Louisiana
    Posts
    8,557
    Rep Power
    6514985
    Uncle Obama needs more money
    SI VIS PACEM PARA BELLUM

    "It's a great life. You risk your skin catching killers and the juries turn them loose so they can come back and shoot at you again. If your honest , your poor your whole life. And , In the end , you wind up dying all alone on some dirty street. For what? For nothing. For a tin star."
    -Ex-Sheriff Martin Howe to Will Kane in "High Noon"

    Far from being a handicap to command, compassion is the measure of it. For unless one values the lives of his soldiers and is tormented by their ordeals , he is unfit to command.
    -General Omar Bradley, United States Army

    Renniger-Richards-Griswold-Owens

  3. #3
    Five-0's Avatar
    Five-0 is offline Super Moderator
    Premium Lifetime Member
    Verified LEO
    Super Moderator
    Join Date
    05-15-06
    Posts
    10,982
    Rep Power
    8357004
    How about change the tax code so they don't leave in first place you morons.

    Meanwhile, fishing in Russia:

    http://www.youtube.com/watch?v=SkzV5AIK8iM
    "When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that justifies it." -- Frederic Bastiat

    "Certainly there is no hunting like the hunting of man and those who have hunted armed men long enough and liked it, never really care for anything else thereafter." Ernest Hemingway

    The opinions given in my signatures & threads DO NOT reflect the opinions, views, policies, and/or procedures of my employing agency. They are my personal opinions only, thereby releasing my agency of any liability, or involvement in anything posted under the username "Five-0" on Officerresource.com

  4. #4
    Twan007's Avatar
    Twan007 is offline The People
    Verified LEO
    Join Date
    02-14-07
    Location
    Baton Rouge, Louisiana
    Posts
    1,403
    Rep Power
    821450
    Quote Originally Posted by Five-0 View Post
    How about change the tax code so they don't leave in first place you morons.
    too much like right...
    -=Twan007


    Lack of planning on your part does not constitute an emergency on mine.

    Not one shred of evidence supports the notion that life is serious.





    The opinions expressed by this poster are wholly his own, and should never be construed to even remotely be in alignment with his employer. Matter of fact, the poster will deny any knowledge of any post... this message will self-destruct in 5 seconds...

  5. #5
    KaiGywer's Avatar
    KaiGywer is offline *insert witty remark here*
    Verified LEO
    Join Date
    01-02-06
    Location
    Mandan, ND
    Posts
    2,867
    Rep Power
    2687223
    WTF?! How do they expect to get taxes with someone who no longer has any ties to the US?? If they renounce their citizenship, they no longer have any rights or responsibilities in regards to the US.
    Alpha Phi Sigma Alum - Alpha Delta Chapter
    ΑΦΣ

  6. #6
    Odd's Avatar
    Odd
    Odd is offline Cosmonaut Trainer
    Supporting Member Lvl 3
    Join Date
    10-08-08
    Posts
    2,048
    Rep Power
    2465205
    Gotta love politicians. Saverin is worth billions now, but let's make it sound like he's trying to escape a rounding error of millions in taxes. Just another case of grandstanding without a cause because it will play with the public - and slip in some new regulations few will pay any attention to during the process. Another version of the bill would deny entry to anyone who renounced their citizenship. Makes sense to deny a Brazilian who took up residency in Singapore entry into the country forever, right? All he ever did here was help start a multibillion dollar company. Who wants his kind visiting?

  7. #7
    Xiphos's Avatar
    Xiphos is offline I Void Warranties
    Verified LEO
    Super Moderator
    Join Date
    03-09-08
    Location
    Thermopylae
    Posts
    8,336
    Rep Power
    7688650
    Gotta love class warfare. Five-0 is right, fix the tax code. That would require politicians to actually do their jobs though.
    Pleasing nobody, one person at a time.

    That which does not kill me, better start fucking running.

    If I lived every day like it was my last, the body count would be staggering.

    I intend to go in harm's way. -John Paul Jones

    Hunt the wolf, and bring light to the dark places that others fear to go. LT COL Dave Grossman

 

 

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •