(02-11-2016 01:10 PM)Pony94 Wrote:  

(02-11-2016 01:09 PM)john01992 Wrote:  

(02-11-2016 12:35 PM)HeartOfDixie Wrote:  I think it is a very particular type of person that renounces. It isn't the mega rich because they have to do business in the U.S. at some point and not being a citizen makes that more difficult in a number of ways.

One of the Facebook founders did this during the Facebook IPO. I think he saved a quarter to a half billion in taxes in doing so.

Poor guy is complaining he can't get a visa to enter the US now

Saverin was born in Brazil but went to Singapore. He'd only had US citizenship for 14 years so probably not hard for him to drop it especially considering the money he saved. I guess with that kind of money you can go pretty much anywhere.

(02-11-2016 01:10 PM)Pony94 Wrote:  

(02-11-2016 01:09 PM)john01992 Wrote:  

(02-11-2016 12:35 PM)HeartOfDixie Wrote:  I think it is a very particular type of person that renounces. It isn't the mega rich because they have to do business in the U.S. at some point and not being a citizen makes that more difficult in a number of ways.

One of the Facebook founders did this during the Facebook IPO. I think he saved a quarter to a half billion in taxes in doing so.

Poor guy is complaining he can't get a visa to enter the US now

I'm pretty sure he knew full well that he would never be allowed to set foot on US soil again if he did that.

(02-11-2016 01:17 PM)john01992 Wrote:  

(02-11-2016 01:10 PM)Pony94 Wrote:  

(02-11-2016 01:09 PM)john01992 Wrote:  

(02-11-2016 12:35 PM)HeartOfDixie Wrote:  I think it is a very particular type of person that renounces. It isn't the mega rich because they have to do business in the U.S. at some point and not being a citizen makes that more difficult in a number of ways.

One of the Facebook founders did this during the Facebook IPO. I think he saved a quarter to a half billion in taxes in doing so.

Poor guy is complaining he can't get a visa to enter the US now

I'm pretty sure he knew full well that he would never be allowed to set foot on US soil again if he did that.

He'll survive I'm sure. If nothing else, he can just cross the border like all those other people.

(02-11-2016 01:17 PM)john01992 Wrote:  

(02-11-2016 01:10 PM)Pony94 Wrote:  

(02-11-2016 01:09 PM)john01992 Wrote:  

(02-11-2016 12:35 PM)HeartOfDixie Wrote:  I think it is a very particular type of person that renounces. It isn't the mega rich because they have to do business in the U.S. at some point and not being a citizen makes that more difficult in a number of ways.

One of the Facebook founders did this during the Facebook IPO. I think he saved a quarter to a half billion in taxes in doing so.

Poor guy is complaining he can't get a visa to enter the US now

I'm pretty sure he knew full well that he would never be allowed to set foot on US soil again if he did that.

Well hes a liberal. Maybe he really thought that controlling our borders is a bad thing..

(02-11-2016 01:41 PM)Bull_In_Exile Wrote:  

(02-11-2016 01:17 PM)john01992 Wrote:  

(02-11-2016 01:10 PM)Pony94 Wrote:  

(02-11-2016 01:09 PM)john01992 Wrote:  

(02-11-2016 12:35 PM)HeartOfDixie Wrote:  I think it is a very particular type of person that renounces. It isn't the mega rich because they have to do business in the U.S. at some point and not being a citizen makes that more difficult in a number of ways.

One of the Facebook founders did this during the Facebook IPO. I think he saved a quarter to a half billion in taxes in doing so.

Poor guy is complaining he can't get a visa to enter the US now

I'm pretty sure he knew full well that he would never be allowed to set foot on US soil again if he did that.

Well hes a liberal. Maybe he really thought that controlling our borders is a bad thing..

where does it say he's a liberal?

(02-11-2016 01:13 PM)john01992 Wrote:  ITT: Uninformed posters assuming people are leaving this country because they are sick of liberal policies.

Nearly all of these cases are people who have been living outside the US for some time who are struggling to cope with an anti-tax evasion law passed in 2010 that makes it harder for Americans to do banking overseas. Americans living abroad do not have congressional representation so no one is doing anything to fix it.

The BBC had an article about this a day or 2 ago.

But then DC residents also have taxation without representation.

(02-11-2016 01:13 PM)john01992 Wrote:  ITT: Uninformed posters assuming people are leaving this country because they are sick of liberal policies.

Nearly all of these cases are people who have been living outside the US for some time who are struggling to cope with an anti-tax evasion law passed in 2010 that makes it harder for Americans to do banking overseas. Americans living abroad do not have congressional representation so no one is doing anything to fix it.

And that is a liberal policy. FATCA was sponsored by two Dems (Baucus/Rangel), passed through Congress with exclusively Dem support, and was signed into law by a Dem President. Meanwhile, many Reps have called for a repeal.

Quote:The Hiring Incentives to Restore Employment Act (of which FATCA is a part) was passed on party lines: It narrowly passed the House, with no Republican members voting "yes"[20] and passed the Senate with only one Democrat member voting "no".

https://en.wikipedia.org/wiki/Foreign_Ac...liance_Act

It should also be known that FATCA has brought in $13.5 BILLION in revenue, while costing "only" $1 TRILLION (per WSJ). In other words, to Progressives, a tremendous success!

http://www.wsj.com/articles/record-numbe...1454698808