1 Seems the Democrats are seething with anger that one of their serfs, Eduardo Saverin, had the gall to relinquish his citizenship in September thereby skirting some hefty monetary theft by the federal government.
Socialist Democrat Sens. Charles Schumer and Bob Casey have proposed the “Ex-PATRIOT” – “Expatriation Prevention by Abolishing Tax-Related Incentives for Offshore Tenancy” – Act.
This is retaliation for Saverin taking the money and running.
Leviathan is angry. The empire is broke. To keep the party going just a little bit longer they will seek funds wherever they can beg, borrow or steal it. The Western economic decline is going to be long and painful.
How much longer before currency controls are in place in “the land of liberty”?
At a news conference this morning, Sens. Schumer and Bob Casey, D-Pa., will unveil the “Ex-PATRIOT” – “Expatriation Prevention by Abolishing Tax-Related Incentives for Offshore Tenancy” – Act to respond directly to Saverin’s move, which they dub a “scheme” that would “help him duck up to $67 million in taxes.”
The senators will call Saverin’s move an “outrage” and will outline their plan to re-impose taxes on expatriates like Saverin even after they flee the United States and take up residence in a foreign country. Their proposal would also impose a mandatory 30 percent tax on the capital gains of anybody who renounces their U.S. citizenship.
The plan would bar individuals like Saverin from ever reentering the United States again.
“Eduardo recently found it more practical to become a resident of Singapore since he plans to live there for an indefinite period of time,” Tom Goodman, Saverin’s spokesman, told Bloomberg News in an email.
Last year 1,700 people renounced their U.S. citizenship.
Pathetic class warfare by political hacks seeking votes from their zombie serfs. The outrage are these Socialists that have infected the U.S. government. They are destroying freedom. You may not like that this guy made billions and left this country for better opportunities, but he should have the freedom to do whatever he wants. This is -was- America.
Maybe this country should make it so that people like Saverin would want to keep their money here. Instead of an “outrage” press conference maybe these two twits should instead unveil new tax policies that encourage investments and keeping money in the U.S.
But no, our leaders here in Dumfukistan will continue to drive out the brightest and richest.
One Response to “Outrageous – Socialist Sens. Schumer and Casey Unveil Ex-Patriot Act to Punish Expats”
Rwolf
History Repeats?
When German Citizens first began leaving Germany to escape the Nazi government, the Nazis levied taxes on German Citizens’ assets; what was left of assets could be removed from Germany. Then the Nazis upped the price for Citizens to leave Germany—invoking a 100% Tax on their assets. Many Germans to leave Hitler’s Germany left everything they owned behind, except for the cloths on their back.