[quote=CA renter]
This goes back to the ideas discussed on the “Self-Made Myth” thread. Where would Saverin be without the U.S.? IMHO, the benefits he received from our country and our taxpayers are what enabled him to make this money. He is a filthy, greedy tax evader, and he should lose EVERYTHING if he tries to avoid paying taxes on the wealth he earned almost exclusively because of the legal/social/business environment found in the U.S.[/quote]
But it’s HIS money. This is not a communist country where the money an individual makes belongs to the state. You, the government, police, pensions, unions, politicians, and hell even wall street is not entitled to the money that HE made beyond what is legally required according to the laws of the United States. And he did the follow the law.
We could encourage people like him to stay and spend, invest, and donate his money here but why should he? He and all those other companies hoarding money overseas could have built a new business here, invested, spent money here, but the press, the government, you call them greedy tax evaders and you want them tarred and feathered. For working hard and investing money, they are demonized. For benefiting the world with facebook, he is cast as a person of ill repute.
For all your excitations, you want to _raise_ taxes on him and his “ilk”. If you do, don’t be surprised if this happens more often.
Look at the other side of the coin. Sinapore has NO capital gains taxes. They now get the benefit of that money that he brings to their economy. He will go there, invest, build, and spend HIS money.
So riddle me this economic genius, if we want more money in our economy, which model should we follow? The one where we get more money into our economy? Or the one where we get more money exiting our economy?
Because you can moan and groan about how unfair it is that people are walking out the U.S. with their money but it doesn’t change the fact that it is human nature to only want to keep what you have and protect it from people like you who think that it should be taken away.
[quote=flu]Nope, I’ll just find more legal creative ways pay less taxes, or legally shelter my income/assets…with no remorse…[/quote]
