The press is reporting that Facebook Co-Founder, Eduardo Saverin has renounced his U.S. Citizenship before the huge IPO for the social media giant.
Singapore currently has no income tax on investments.
The already-billionaire is obviously doing this to avoid taxes in the United States. According to the IRS, Saverin joins a long list of others who’ve done the same thing to save money.
In Gov. Palin’s Indianola speech, she emphasized the importance of energy development as well as making the United States a more business-friendly environment. She proposed many solutions including eliminating corporate income taxes so that companies would keep their money here in the United States as well as investors like Saverin.
While it’s true the Governor made no specific mention of Capital Gains tax in that speech, I think it’s fair to say based on her call to get Government out of the lives and the way of business owners and investors, she’d have policies in place for all aspects of tax and regulation which mirror her specific mentions.
To our candidates: Please quit talking about gay marriage. Please stop apologizing for incidents which may have occured 40 years ago. Talk about the issues surrounding our economy. our jobs, and our economic freedoms on which all of our other freedoms depend.