There’s nothing like being an American, right? I mean, we’re only 5% of the population and enjoy 25% of the world’s GDP (while consuming 25% of the world’s energy of course). That aside, in general, you don’t see people from around the world flocking to any country but America. We have a vibrant job market (usually), the best opportunities for startups, education, freedom, and well, all kinds of other good stuff.
So, what would entice someone to renounce their US citizenship? Cold hard cash. That’s what one of the initial founders of Facebook has done, foresaking the US for Singapore (even though he’s Brazilian…long story, but it’s clearly a tax thing). As widely reported in the media in advance of the Facebook IPO, Eduardo Saverin is now a proud citizen of Singapore…
Continue Reading How Much Would it Take For You to Renounce Your Citizenship?
Perhaps it is because Singapore is still a country under the Rule of Law and not the Rule of Men.
The Rule of Law means that your PRIVATE property is not subject to the whims of the current (king) president and his cronies. Too bad that is long gone from the US with the Kelo decision.
Singapore used to have a program that if you parked $10 million in their economy, you could become a full citizen in 5 years.
Me? I’m investing in The Bank of Bigger Mattress, heh.
As long as a few people renounce their citizenship , no harm done , I guess.
But, the last time a few states got together and 9 million US citizens attempted to renounce their citizenship, all hell broke loose.
The Thugacracy will tolerate a few inmates a year escaping, just don’t try to take too many buddies with you.
If you going to leave the Thugacracy, do it one at a time so as not to raise any suspicion… sorta’ nonchalantly ease out the door…whistling to yourself real low seems to divert attention.
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Dawin-New Legislation Coming?
Nailed it! ….some loudmouth has set off the alarm and the exit door has been sealed shut with the price for exiting being placed somewhere north of exorbitant .
http://abcnews.go.com/blogs/politics/2012/05/senators-to-unveil-the-ex-patriot-act-to-respond-to-facebooks-saverins-tax-scheme/
May 17, 2012 7:01am
Senators to Unveil the ‘Ex-Patriot Act’ to Respond to Facebook’s Saverin’s Tax ‘Scheme’
en. Chuck Schumer, D-N.Y., has a status update for Facebook co-founder Eduardo Saverin: Stop attempting to dodge your taxes by renouncing your U.S. citizenship or never come to back to the U.S. again.
In September 2011, Saverin relinquished his U.S. citizenship before the company announced its planned initial public offering of stock, which will debut this week. The move was likely a financial one, as he owns an estimated 4 percent of Facebook and stands to make $4 billion when the company goes public. Saverin would reap the benefit of tax savings by becoming a permanent resident of Singapore, which levies no capital gains taxes.
At a news conference this morning, Sens. Schumer and Bob Casey, D-Pa., will unveil the “Ex-PATRIOT” – “Expatriation Prevention by Abolishing Tax-Related Incentives for Offshore Tenancy” – Act to respond directly to Saverin’s move, which they dub a “scheme” that would “help him duck up to $67 million in taxes.”
Chuckie Schumer is basically Satan’s representative on earth. There’s a lot of vile and repulsive things lurking inside the beltway, but he’s something like the Greater Demon of Slannesh.
I’ve done “some” research on expatriating. For me the biggest hurdle is having a secure income in a new country. The second hurdle is finding a country where I am truly convinced that the rule of law and civil liberties are respected and will be respected into the future. Canada looks great peering across the border, but you talk to Canadians and to US expats living there and they ALL report that it’s just like the US in all the bad ways, plus higher taxes. New Zealand looks interesting from afar, but it’s damn isolated, has some significant racial tension, and most reports are that it’s quite provincial as well. Singapore might be one of the better bets if you can afford it and are willing to comply with its fairly strict laws.
King and his cronies, told ya’ so.
‘Course this still needs to get through Congress. Doubt Obama will touch it for fear of pissing off even more big donors, especially since his fund raising is a bit off, but you never know, he is such a psychopathic narcissist.
The US is becoming more an more like a fucking totalitarian fascist state. You can’t make any money unless you are connected, you can’t keep what you have (unless you are connected) and you can’t fucking LEAVE with a financial enema.
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Persnickety, I lived in Singapore for three years. It was like living in a Disneyland-on-steroids. If you can stand that for three years, that’s one thing. But the letters that arrived already opened, the way your phone calls were dropped if you said anything negative about the government, the way you were followed when hopping a ferry to Indonesia for the day… I wouldn’t want to live that way again. All the more reason to stop it here, before it becomes like that.
Great food, though.
@Thinker: VERY interesting, thanks. So many places look great from outside but have some underlying issues that don’t get publicized much. I’m all for enforcement of intelligent laws, but the prohibition on chewing gum and similar is probably too much for me to live with. And it sounds like the Stasi just moved instead of going out of business. Yay fun.
Here in the US, if we could just shrink the Federal govt to its original purpose, size, and funding, I think we would again be the best place on earth to live. State governments have their flaws but outside of the corrupt NE and commiefornia are mostly not all that bad.
THE COLLOSAL ASSHOLES
“Give me your tired, your poor, your illegal immigrants yearing to suck the government tit so we can get their votes, but you fucking rich people are not allowed in.”… by Chuck Schumer and Bob Casey
EP ES
Fuck ’em! They are part of the problem. They should be barred from obtaining visas to visit the US as well.
I_S
oops, typo, I got so mad.
I meant to say: “The US is becoming more and more like a fucking totalitarian fascist state. You can’t make any money unless you are connected, you can’t keep what you have (unless you are connected) and you can’t fucking LEAVE withOUT a financial enema.”
It’s been a while, but it needs saying.
Fuckity Fuck Fuck Fuck.
Best place to put this — strike one against NDAA, although I doubt it will be allowed to stand.
Federal Judge: Terror Law Violates 1st Amendment
Everywhere that Humans exist is fucked up. Its still less fucked up in the US than most places. I’m not a quitter, so I’d stay and fight the good fight until there’s no fight left. America was the most marvelous of ideas, and I’m not ready to dump her yet, even though she’s bruised and battered and barely recognizable with the faintest of pulses. I suspect the rest of you malcontent sonofabitches feel deep deep down the same way.
I’ll renounce it when the rest of my fellow Wyomians and Dakota folk do.
What would it take for me to GTFO of this place once and for all? A one way plane ticket back to the beaches and jungles of Queensland, Australia. Since that isn’t going to happen, I’ll stock supplies and stay frosty for when the real fireworks kick off here shortly.
Everybody dies. Die standing up.
Sounds like smart lawyers gave the man some advice.Many rich folks find loopholes all the time.
Heck big companys move overseas then sell stuff here.
I keep reading stuff about people wanting to leave the usa.Ive traveled and when it comes to personal freedoms we have the world beat.If your wealthy you should be living like a king here in the usa.I just hope our country dosent go down the tubes.
It isnt a fact of a buyout, it’s about whether or not there is a better place. The standard of living is likely on a downward trend for the bulk of us but there are no counties like what America used to be.
The ideal would not to be a citizen of any one place, i would live in one, do business in multiple locations and most importantly do my banking in totally different countries.
Countries dont view citizenship as they should, they view it as ownership of people, whuch is why they think they deserve peoples money.
What they should be doing is vying for our tax dollars by how they provide services and not thru coercian.
I think the real question isnt “how much” but “when” to renounce, and thats just before we arent viewed as milk cows any more but are viewed as beef cows.
Renouncing citizenship might not matter anyway, the idea of a nation-state is likely on its way out.
Holy shit – Somewhat tongue-in-cheek, I said some senator would come up with some new bullshit legislation based on the headlines and boom. Next day, some asshole that hasn’t done shit to address the issues orders of magnitude more important proposes nonsense patriot act. Only IN America…