Facebook Founder renounces US citizenship to duck taxes. Is it time to renounce Facebook citizenship?
Facebook founder Eduardo Saverin has decided to renounce his US citizenship in advance of his anticipated multibillion dollar capital gains windfall from Facebook’s upcoming IPO. Saverin moved to the US in 1992, got his education here, and became a citizen in 1998. He has massively profited from the educational, entrepreneurial, business, social, and networking infrastructure this nation gave him, but he can’t spare even 15% of his windfall to give back to the country that made him rich?
Coming on the heels of the FTC Investigation just launched into Facebook; this is not going to help the IPO. I am going to kill my Facebook account. There’s Myspace, Twitter, Linkedin, Google Groups, and Bing is developing a Social presence as well that will likely help Microsoft’s search platform win some of Google’s popularity.
I know that some will cheer Severing [oops, Saverin] for his move, and warn that all millionaires and billionaires will leave the US unless we offer them a free ride payed for only by us peons who make them so rich. I say good riddance to anyone so selfish, greedy and unpatriotic that they will turn their back on this great nation the moment it hands them what they want. What say you? Is it time to renounce Facebook Citizenship?
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