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The poor shall inherit the earth....my ass.
You may have heard about the co-founder of Facebook, Eduardo Saverin, renouncing his U.S. citizenship last week. Facebook is about to launch it's IPO and Saverin owns 4% of the company's stock which is valued at somewhere between $77 billion and $96 billion. That's billions, not millions. Saverin has decided to settle in Singapore.....that is, he and all that money.
Renouncing U.S. citizenship, loading up all those billions and moving his ass and his money to Singapore will "reduce his tax burdens." Saverin's case is unique in that most U.S. citizens who renounce their U.S. citizenship hold dual citizenships and renounce their U.S. citizenship status to return to their home in another country. So, Saverin's renouncing of U.S. citizenship is not the rule. But that doesn't stop the creatures who work for Forbes magazine from trying to lift up Saverin's renouncing of his U.S. citizenship as yet another potential hostage taking situation for the benefit of the top .1%. Tell me if you have the same reaction to these words as I did...
"Saverin's departure is also a reminder to politicians that while they can obnoxiously decree what percentage of our income we'll hand them in taxes, what they vote for won't necessarily reflect reality. Indeed, as evidenced by Saverin's renunciation, tax rates and collection of monies on those rates are two different things. Assuming nosebleed rates of taxation were a driver of Saverin;s decision, politicians will hopefully see that if too greedy about collecting the money of others, they'll eventually collect nothing."
Clear, no? By god, Forbes magazine says, if the U.S. government continues to dare to tax obscenely rich Americans.......all those obscenely rich Americans will simply do as young Severin has done.....toss his U.S. citizenship in the trash because it's just a "goddamn piece of paper" anyway (apologies to G.W. Bush) and relocate themselves, and their billions, to some country that they can really own.
Forbes magazine is a product of the freak and former GOP presidential freak-candidate, Steve Forbes. Forbes, a billionaire, is a champion of the "flat tax" which would act regressively in favor of people like, well, himself. I find it strange that the filthiest of rich in the U.S.are often the folks who want even more.....and think that other....less fortunate....people than themselves should pay for it...kind of like the Ryan budget plan endorsed and championed by Barber Willard Romney.
But please...."nosebleed rates of taxation." The income tax rates in America are currently perched on 50-60 year lows. The same is true with capital gains and dividend rates as well as the estate tax rate. Rates that billionaires like Forbes pay have never been so low.....but by jimminy, those 60 year low rates are in "nosebleed" territory...and if those goddamn Democrats and their Dark Knight Leader aren't careful about those record low "nosebleed" rates, why, they just won't have any money to pay for all their communist policies...."they'll eventually collect nothing."
Let me be clear. Eduardo Saverin can kiss my ass. I hope the door does hit his billionaire ass on the way out. And that brings me to the great and mighty patriotism of the only patriots left in America....conservative Republicans. Never has there been such a band of patriots in all of the world. They alone, we are told, walk in the footsteps of the Founding Gods. And yet, at the drop of the hat of higher tax rates, these mighty patriots are ready to head for the exits. 'Sure, we're the most patriotic patriots ever witnessed in history, but if those nominal rates go up a percent, we're the f*ck out of here.'
The most audacious hostage taking threat ever is found in the words of the Forbes article. If obscenely rich Americans are forced to pay any higher tax rates, they will gather up their hundreds of billions, like Facebook's Saverin, and just find citizenship somewhere else. A more loyal and deeply felt patriotic love for country is rarely heard.
The gutter snipes at Forbes had the nerve to call Eduardo Saverin an "American Hero." American heroes are billionaires who renounce their U.S. citizenship in order to dodge paying taxes. Did you get that? A United States citizen becomes an American hero by amassing a fortune and then renouncing his U.S. citizenship and becoming a citizen of another country.
That's the definition by conservatives of an American hero in the 21st century. And if the U.S government, or any of you Occupy commies out there don't like it, you had better shut the hell up or all us patriots will take our low-tax-rated fortunes to some other country and then, "you'll eventually collect nothing."
After the owners of our U.S. government, bankers, removed $7 trillion of worth from average American families through very-responsible-gambling games, I thought that low-tax-rate paying, obscenely rich Americans would have the sense to keep their mouths shut over the potential of paying higher tax rates to fix the goddamn mess their compatriots made. But I was way wrong. You see, in the end, the Wall Street thieves are our greatest American heroes. Without them, the other 300 million of us are, alas, nothing.
Make no mistake, a vote in November for Barber Mitt, is a vote for lower and lower tax rates for people like the outgoing Eduardo Saverin, people like the repulsive Steve Forbes.....people who think American Heroes are those who amass a fortune while citizens of the U.S. and then renounce their U.S. citizenships and become loyal citizens of some other country, rather than subject themselves to the humiliation of paying the lowest tax rates in the U.S. in the last 60 years.