I thought tax rates didnt matter | Facebook Co-Founder Saverin Gives Up U.S. Citizenship Before IPO—
James Pethokoukis (@JimPethokoukis) May 11, 2012
Weird how that works, huh? Words matter and so do tax rates.
Facebook co-founder Eduardo Saverin's decision to renounce his U.S. citizenship is a move likely aimed at reducing his tax bill before IPO.—
Jake Beckman (@jakebeckman) May 11, 2012
More from Bloomberg:
Renouncing citizenship is an option chosen by increasing numbers of Americans. A record 1,780 gave up their U.S. passports last year compared with 235 in 2008, according to government records.
Income-tax rates for top U.S. earners will rise to 39.6 percent from 35 percent next year, and rates on capital gains and dividends also are scheduled to rise unless Congress blocks the increases.
“Galt’s Gulch” coming to fruition? But keep talking about Buffett’s secretary, in between $40,000 per plate dinners, President Obama. That’s so helpful.
Twitter reacts with #TaxedOut.