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Facebook's Saverin...'American Hero' or Scumbag?

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  • Facebook's Saverin...'American Hero' or Scumbag?

    Facebook's Saverin: Hero or traitor?
    The website's co-founder has moved to Singapore, a country with no capital gains tax.
    By Kim Peterson 24 hours ago

    Ditching the U.S. to save a boatload on taxes. Is it the new American ideal?

    I am referring, of course, to the case of Facebook co-founder Eduardo Saverin. We recently learned that the 30-year-old has renounced his U.S. citizenship and now lives in tax-friendly Singapore. While Saverin undoubtedly likes Singapore -- he certainly seems to enjoy the country's nightclubs and supermodels -- there's little doubt that tax considerations also spurred the move.

    . . .

    Firmly in the hero camp is Forbes, which cheers Saverin's relocation and shakes its finger at the American tax system. Saverin shouldn't support our bloated, wasteful government, writes John Tamny.

    "Saverin's decision will starve the feds of revenue they would almost certainly waste, it will force a rethink of a tax code that penalizes income and investment success, and the unconsumed dollars kept from the hands of government will reach today's and tomorrow's businesses," Tamny writes.

    I don't know, the odds that Saverin's actions will change the federal tax code seems pretty slim. And more Saverin's dollars seem to be going to bottles of Cristal than to businesses -- at least at this point.

    On the other side of the debate is Farhad Manjoo at Pando Daily, who writes that Saverin owes America for nearly all of his success. Saverin reportedly moved to Miami at age 13 to escape Brazilian gangs who planned to kidnap him. If he hadn't come here, Manjoo argues, he wouldn't have lived a safe life, he wouldn't have met Facebook CEO Mark Zuckerberg, and he wouldn't have been able to use our legal system to sue Facebook when the company tried to shut him out.

    After all that America has given him, it's not really right for Saverin to take the money and run, Manjoo writes.

    "Is this fair? No," Manjoo writes. "It's worse than that, though. It's ungrateful and it's indecent. Saverin's decision to decamp the U.S. suggests he's got no idea how much America has helped him out."

    So what do you think, readers? Is Saverin a hero or a zero for renouncing his citizenship and moving to Singapore?
    Facebook's Saverin: Hero or traitor?- MSN Money

    Personally, I think Forbes owes the public an apology for even publicising that article and should take a hard look in the mirror reflecting about the essential duties towards the nation. If not, the public ought to remind them of these duties on the very thing they seem to value more...their pockets. "American hero?" It's offensive as it gets to renounce your citizenship and call that an act of being an "American hero" for any reason.

    And here, it's the most offensive reasons as to why. The US took this filthy maggot into the country from Brazil because his life was threatened by gangs. This nation made him a billionaire giving him all the opportunites besides his life itself. And this is how he repays it? Fuck him.

    Beyond the sheer offensiveness of Forbes ever calling renunciation of US citizenship the act of an 'American hero', the supposed logic as explained above shows one of the most hollow reasons why. What he paid versus what he got was more than reasonable....exceptionally reasonable...and given the wealth the US system of opportunities created for him, it was less than a scratch off his arse to pay those taxes and makes no damn difference whatsoever to the quality of life he has.

    I'm surprised the State Department ever accepted his renunciation if that's accurate. If it already hasn't, then it ought to be rejected so he's taxed accordingly. And those in government ought to teach the fucker a little bit about respecting the country that saved his ass and made him who he was by coming up with ways to tax the living shit out of him in any ways possible personally, against his stock, etc, and assure, if his citizenship is formally renounced, that he never sets foot on US soil again, and pretty much anything else they can do to make his ungrateful, selfish, unduly greedy life miserable.



  • #2
    Re: Facebook's Saverin...'American Hero' or Scumbag?

    Saverin comes from a wealthy family, received his education and came to the US to further his education and found a brilliant guy to invest in.
    He didn't tell Zuckerman not to get the best engineers and developers, in fact, he encouraged it.
    It's his business what he does.
    You should always have an informed opinion, so after I inform you, please feel free to express my opinion...USCitizen

    מה מכילות החדשות?


    • #3
      Re: Facebook's Saverin...'American Hero' or Scumbag?

      Name:  ce05c94c4c1a06abe55ad69e5914cd2e.jpg
Views: 1
Size:  33.2 KB

      This guy doesn't "owe" America a damned thing. He was afforded an opportunity and took advantage of that opportunity. His success wasn't of my making and he owes me nothing for it. In fact, I commend him for his success and wish him all the best.

      If he's leaving the US for tax reasons then so be it. If we, as Americans, wish to retain even the slightest shred of liberty then we should not only allow his departure but make it a point to wave fare thee well.

      I must say that I am absolutely aghast at the idea that this guy should owe us anything. We, as a free nation, are built on the principle of mutual benefit and opportunity offered freely. If we are beginning to see that people are looking elsewhere for their opportunities then perhaps we need to do a bit of soul searching and decide if the way we are conducting ourselves really encourages people to willingly participate.

      מה מכילות החדשות?


      • #4
        Re: Facebook's Saverin...'American Hero' or Scumbag?

        Originally posted by lutherf View Post
        Name:  ce05c94c4c1a06abe55ad69e5914cd2e.jpg
Views: 1
Size:  33.2 KB

        This guy doesn't "owe" America a damned thing. He was afforded an opportunity and took advantage of that opportunity. His success wasn't of my making and he owes me nothing for it. In fact, I commend him for his success and wish him all the best.

        If he's leaving the US for tax reasons then so be it. If we, as Americans, wish to retain even the slightest shred of liberty then we should not only allow his departure but make it a point to wave fare thee well.

        I must say that I am absolutely aghast at the idea that this guy should owe us anything. We, as a free nation, are built on the principle of mutual benefit and opportunity offered freely. If we are beginning to see that people are looking elsewhere for their opportunities then perhaps we need to do a bit of soul searching and decide if the way we are conducting ourselves really encourages people to willingly participate.
        Liberty my arse. Liberty has been protected here by honourable people like the soldiers who have defended it, honourably participated in it, etc, and that includes paying your fair share of maintaining it including with taxes and other duties of citizenship. A person does owe duties to their nation, and that includes paying taxes along with registering for selective service and rendering honourable service when called, etc.

        I hope he gets cancer in his asshole and dies a horrible death. Fuck him.


        מה מכילות החדשות?


        • #5
          Re: Facebook's Saverin...'American Hero' or Scumbag?

          Originally posted by USCitizen View Post
          Saverin comes from a wealthy family, received his education and came to the US to further his education and found a brilliant guy to invest in.
          He didn't tell Zuckerman not to get the best engineers and developers, in fact, he encouraged it.
          It's his business what he does.
          He came here because his family was threatened by gangs. He sought the US. We let him in as requested. This is how he 'pays us back.' Fuck him.


          מה מכילות החדשות?


          • #6
            Re: Facebook's Saverin...'American Hero' or Scumbag?

            Did he pay any taxes at all or did some bi-partisan loophole allow him to "escape" unscathed?
            You should always have an informed opinion, so after I inform you, please feel free to express my opinion...USCitizen

            מה מכילות החדשות?


            • #7
              Re: Facebook's Saverin...'American Hero' or Scumbag?

              Originally posted by USCitizen View Post
              Did he pay any taxes at all or did some bi-partisan loophole allow him to "escape" unscathed?
              It's already at a very low rate for him for capital gains. That still wasn't enough....he went for the gusto given Singapore's laws of no capital gains taxes. It wasn't our loophole per se; he forum shopped for another country to avoid our tax laws altogether. To an extent there's a loophole on permitting that, that's where I'd like the government to focus upon to tar and feather the POS and set examples for egregious situations such as him.


              מה מכילות החדשות?


              • #8
                Re: Facebook's Saverin...'American Hero' or Scumbag?

                Originally posted by O'Sullivan Bere View Post
                Facebook's Saverin: Hero or traitor?- MSN Money

                Personally, I think Forbes owes the public an apology for even publicising that article and should take a hard look in the mirror reflecting about the essential duties towards the nation. If not, the public ought to remind them of these duties on the very thing they seem to value more...their pockets. "American hero?" It's offensive as it gets to renounce your citizenship and call that an act of being an "American hero" for any reason.

                And here, it's the most offensive reasons as to why. The US took this filthy maggot into the country from Brazil because his life was threatened by gangs. This nation made him a billionaire giving him all the opportunites besides his life itself. And this is how he repays it? Fuck him.

                Beyond the sheer offensiveness of Forbes ever calling renunciation of US citizenship the act of an 'American hero', the supposed logic as explained above shows one of the most hollow reasons why. What he paid versus what he got was more than reasonable....exceptionally reasonable...and given the wealth the US system of opportunities created for him, it was less than a scratch off his arse to pay those taxes and makes no damn difference whatsoever to the quality of life he has.

                I'm surprised the State Department ever accepted his renunciation if that's accurate. If it already hasn't, then it ought to be rejected so he's taxed accordingly. And those in government ought to teach the fucker a little bit about respecting the country that saved his ass and made him who he was by coming up with ways to tax the living shit out of him in any ways possible personally, against his stock, etc, and assure, if his citizenship is formally renounced, that he never sets foot on US soil again, and pretty much anything else they can do to make his ungrateful, selfish, unduly greedy life miserable.
                Amen. But this is the new way of thinking, what he thinks, and how he thinks. There is something about this that stinks of what is infecting our nation today. To use america, gain vast wealth, and then to tell america to go fuck herself. Of course he owes america NOTHING. He should have tried to pull this off somewhere else. I imagine he would still be there, and not in the position he is in today. There is no gratitude , there is only a lust for wealth, and it drives a part of society that eats the rest of society in that lust. As others cheer them on. But such is the path of a nation's destruction. Only after great wars do we feel we are all in this together. We need a great war to bring back character, less selfishness, and people again working for a common cause, instead of such fragmentation. A fragmented nation will not endure. The nation becomes diseased.
                The ego, self image, is the creator of all evil. That is its forte and the curse of humanity. BD

                מה מכילות החדשות?


                • #9
                  Re: Facebook's Saverin...'American Hero' or Scumbag?

                  Does not Google pass their gains through about 14 nations to avoid paying taxes?
                  I mean, what's new?
                  You should always have an informed opinion, so after I inform you, please feel free to express my opinion...USCitizen

                  מה מכילות החדשות?


                  • #10
                    Re: Facebook's Saverin...'American Hero' or Scumbag?

                    He still didn't howl the "lazy and stupid American" mantra.
                    You should always have an informed opinion, so after I inform you, please feel free to express my opinion...USCitizen

                    מה מכילות החדשות?


                    • #11
                      Re: Facebook's Saverin...'American Hero' or Scumbag?

                      Originally posted by O'Sullivan Bere View Post
                      It's already at a very low rate for him for capital gains. That still wasn't enough....he went for the gusto given Singapore's laws of no capital gains taxes. It wasn't our loophole per se; he forum shopped for another country to avoid our tax laws altogether. To an extent there's a loophole on permitting that, that's where I'd like the government to focus upon to tar and feather the POS and set examples for egregious situations such as him.
                      But how could the gov't do anything about this? Place an exodus tax on his assets, at a very high rate to discourage it? Of course, given the influence of wealth upon gov't, I can't see this ever happening. We have a multitude of rich americans residing in singapore for this same exact reason. It is easy to create your wealth here, then leave for zero capital gains rates in singapore. I don't think it should be an easy thing to do. It can lead to the US being piss poor, relatively speaking. Is america of no importance anymore? That the individual trumps the nation? That seems rather insane to me. But it is accepted today, or so it seems.
                      The ego, self image, is the creator of all evil. That is its forte and the curse of humanity. BD

                      מה מכילות החדשות?


                      • #12
                        Re: Facebook's Saverin...'American Hero' or Scumbag?

                        Originally posted by USCitizen View Post
                        Does not Google pass their gains through about 14 nations to avoid paying taxes?
                        I mean, what's new?
                        I've long criticised that too by allowing the 'Double Irish with Dutch Sandwich' stuff. Our tax policy is ridiculous in permitting that, just as it's ridiculous that some people who are poor pay zero taxes too. It goes right to the civil obligations of being a citizen and rots the nation's values and undermines it along with other aspects. It's too high on face value but the loopholes in it make it ridiculous in freeriding and syphoning out tax revenue from the rich and poor alike.

                        Here, though, we're talking about a person. Contrary to the same social cancer rot, corporations are not people. They are creations of the state. Its officers have legal obligations to the stockholders where they can be fired and sued for willingly giving away money that they could have saved. That's why laws are necessary to remove that conflict of interest to do the right things. This POS renounced his US citizenship to avoid his obligations to the country for the shallowest of reasons after we gave him the very manner and helping hands to make himself what he is.
                        Last edited by O'Sullivan Bere; 05-16-2012, 03:40 PM.


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                        • #13
                          Re: Facebook's Saverin...'American Hero' or Scumbag?

                          Originally posted by Blue Doggy View Post
                          But how could the gov't do anything about this? Place an exodus tax on his assets, at a very high rate to discourage it? Of course, given the influence of wealth upon gov't, I can't see this ever happening. We have a multitude of rich americans residing in singapore for this same exact reason. It is easy to create your wealth here, then leave for zero capital gains rates in singapore. I don't think it should be an easy thing to do. It can lead to the US being piss poor, relatively speaking. Is america of no importance anymore? That the individual trumps the nation? That seems rather insane to me. But it is accepted today, or so it seems.
                          If you want to know how investors view the US read the WSJ.
                          The US is "non-competitive" and has outlived it's usefulness.
                          It's not a joke.
                          It's here, it's now, it's over with.
                          You should always have an informed opinion, so after I inform you, please feel free to express my opinion...USCitizen

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                          • #14
                            Re: Facebook's Saverin...'American Hero' or Scumbag?

                            Originally posted by Blue Doggy View Post
                            But how could the gov't do anything about this? Place an exodus tax on his assets, at a very high rate to discourage it? Of course, given the influence of wealth upon gov't, I can't see this ever happening. We have a multitude of rich americans residing in singapore for this same exact reason. It is easy to create your wealth here, then leave for zero capital gains rates in singapore. I don't think it should be an easy thing to do. It can lead to the US being piss poor, relatively speaking. Is america of no importance anymore? That the individual trumps the nation? That seems rather insane to me. But it is accepted today, or so it seems.
                            The Department of State should never have accepted his renunciation. To my understanding, it still has to be approved by the DOS. He has to pay an 'exit tax' but the fact that it actually rewarded this POS for making that call shows once again why our tax system is entirely dysfunctional. It ought to get what's due and punish those who evade it.

                            It's one thing for people who can show meritorious reasons for renouncing US citizenship, including for tax reasons. For example, if someone was being required to pay taxes but acquired US citizenship by operation of law due to parentage or birth but were never raised here and never really had any substantial personal connections here, etc, I'd be more sympathetic to that. Then again, the tax code should address nominal and/or long expatriated Americans for consideration insofar as paying taxes to avoid that except maybe in national emergencies. I'm also for reforming the tax code to allow expatriates who wind up required to pay US taxes to qualify for exemptions where it's financially understandable given personal circumstances. There's already an income tax exemption up to around $91,000 IIRC for US citizens living abroad.

                            This guy is a naturalised citizen. We let him in and gave him citizenship as he fled from gangs. We therefore protected his life. It was the US and the very system and opportunities here that we let him avail himself that he got such a benefit that you'd think he would be worshipping the US for what it did for protecting him and allowing him to make of himself with a sense of civic obligation to the nation. Instead, he just took a giant shit on us. That kind of guy deserves some serious payback.


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                            • #15
                              Re: Facebook's Saverin...'American Hero' or Scumbag?

                              Originally posted by Blue Doggy View Post
                              Amen. But this is the new way of thinking, what he thinks, and how he thinks. There is something about this that stinks of what is infecting our nation today. To use america, gain vast wealth, and then to tell america to go fuck herself. Of course he owes america NOTHING. He should have tried to pull this off somewhere else. I imagine he would still be there, and not in the position he is in today. There is no gratitude , there is only a lust for wealth, and it drives a part of society that eats the rest of society in that lust. As others cheer them on. But such is the path of a nation's destruction. Only after great wars do we feel we are all in this together. We need a great war to bring back character, less selfishness, and people again working for a common cause, instead of such fragmentation. A fragmented nation will not endure. The nation becomes diseased.
                              Absolutely. When I first read Forbes calling a filthy maggot like him an "American hero" I thought "How the fuck could this ever get into print in this magazine"? Renouncing US citizenship is now an act of an American hero? All by one who we helped save his life and gave him the opportunities and assistance to make himself a multi-billionaire who now doesn't want to pay taxes to the US and renounces us? How paradoxically upside down fucked up it that? Audie Murphy move over...there's a new hero in town...:rolleyes:

                              And yet, seeing the kinds of responses to this in online replies on the websites where people are cheering this guy against the best interest and welfare of the United States--against their own damn country---and whew, we have some social rot in our nets that really needs examination.


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