Today New York Democrat Senator Chuck Schumer and Pennsylvania Democrat Senator Bob Casey had a hysterical news conference to whine about Eduardo Saverin, the co-founder of Facebook renouncing his American citizenship to avoid the taxes he would have to pay for his share of the IPO of Facebook. By renouncing his citizenship, sources project he will save at least $104 million in taxes.
Schumer and Casey have introduced a bill in the Senate to address this issue.
What is going on and what is wrong?
Schumer and Casey want to allow the IRS to impose a 30% capital gains tax on anyone it “believes” is renouncing their American citizenship to avoid taxes.
Unfortunately there are two problems here. First, America has become such a high tax nation that people are now fleeing America with their wealth. Instead of realizing the problem is high taxes, like socialist everywhere, they simply wish to imprison people in failed, high tax economic systems.
Instead of doing the logical thing, which would be to lower taxes to attract wealth to the nation, Schumer, Casey and the other members of the Party of Treason want to penalize people.
There is a second much more disturbing part to this story. That is the attitude liberals now have towards people, freedom and the role of the state.
Our founding fathers understood something very important. In order for there to be liberty, the people had to be the masters of the state. As long as the people are the masters of the state, tyranny is held at bay and freedom can thrive.
Unfortunately the Democrats have adopted the philosophy of socialism. Under socialism, people do not rule the state. The state rules the people. Under the philosophy of socialism, people exist to serve the state.
This is the belief system that Chuck Schumer and Bob Casey are expressing. People like Saverin do not exist to exercise their inalienable rights to life, liberty and the pursuit of happiness. They exist to pay taxes to serve the state.
This is the antithesis of what our founding fathers thought when they brought this nation into being. When leaders of one of the parties start to view American citizens as simply chattel of the state, we are all in trouble.
If this belief is allowed to go unchecked, freedom in this great nation will be lost and we will go the way of other states that have slid into the dark night of tyranny.
There are lots of dangerous fools like Schumer and Michael Moore who, for some reason, think they should have first say on what happens to all money, no matter who earned it. The best way to show them the error of that suppostion is to vote them out of office and ridicule them at every opportunity.
And they want to ignore the Ex Post Facto provisions of the Constitution and make this retro-active 10 years. These marxist morons are just incredible. I saw the news conference and tried to discern whether these guys believe what they say or are just saying it because they think it will sell and get them re-elected. They look like they've drank the Kool-Aid.
I am noticing that everywhere there are Democrats in power even in local governments their first duty is to dream up grand schemes to collect money. Where I am now there is a county referendum coming up whether to legalize alcohol. This county has been dry to legal alcohol sales since forever I guess. The reason one side of the argument wants it legalized is so they can TAX it.
I bet if these legislators were Savarin, they would do exactly the SAME THING! And I wouldnt doubt they have fudged the amount of taxes they owe. They cant stand it that someone OUTSMARTED THEM!!! And they should realize they need to STOP SPENDING and REDUCE TAXES, but you have to be analytical and have some common sense ,to realize THAT, and they are too thick headed for that revelation to occur!
This new Bill that Up-Chuck Schumer and Bob Casey want would allow the IRS to do more things based on suspicion and not facts of evidence. Where does that put due process under the law? It would be un-Constitutional on its face. But, the Constitution doesn't seem to matter to these guys anyway.
The flip side is, I'm glad that wealthy men like Washington and Jefferson didn't just bail to other countries when the then British government got crazy with the taxes and the laws. Saverin should stay and fight if he really loves the country that gave him the opportunities that America has, to earn all that wealth.
The mentality of the left has gone beyond the Twilight Zone! It’s hard to believe that so many people accept this down right crazy behavior without question.
I think we need a massif effort by Tea Parties from coast to coast to pick a day to make our voices heard. We all see what’s happening because we have made the effort to get informed. We need to talk to the uninformed. We need to get messages out in ways that will hit home with people so they can see how they will be affected if they don’t take action. We are all in a fight for our freedom.
Columbus Day is my suggestion. Also known for its ties to our Pledge of Allegiance. And its proximity to the election.
If it was me I'd save the money and really enjoy watching Chucke and Bobby whine about the one that got away. Go Eduardo!!!
It is truly hard to understand how voters could elect, let alone re-elect, either of those two Senators. However, that such folks ARE not only elected, but also re-elected, demonstrates our dilemma with crystal clarity. We have literally millions of folks who need informed, educated, and persuaded to return to values and principles most declare they support when asked. We need to clearly expose how folks such as Schumer and Casey and all the "liberal-progressives" Do NOT support the values and principles of the vast majority of our Citizens.
Hard work, Necessary Work!
Thank God for good international tax attorneys.
If I were king, they wouldn't even be necessary, but because of scum like Schumer and Casey, they will continue to prosper.
Everything I have read about the IRS seems to state that it is not really a part of the Federal Government but is in fact a collection agency for the Federal Reserve Bank. Can anyone verify that? Why do we Americans tolerate all the excesses that our 'Representatives' and I use that term as an oxymoron, inflict on us without rising up and taking the power back from those who stole it?
You are So Right Brother !
Anything that we have in "government" we with either "support it or tolerate it" !
If, We The People tolerate any "injustice", at the hand of Our Government, Shame On USA !
There should be "No Agency or Person in Our Government that "We The People" fear.