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Two senators want to stop Facebook's Saverin from dodging taxes
Facebook co-founder Eduardo Saverin renounced his U.S. citizenship and is living in Singapore, a country with no capital gains tax. Sens. Charles Schumer and Bob Casey say he's a tax dodger. WASHINGTON — Eduardo Saverin fled Brazil as a boy and lived the American dream by helping found Facebook Inc.
Read more...Schumer Proposes Tax on People Like Facebook’s Severin
Senator Charles Schumer proposed legislation that would impose a 30 percent capital gains tax on people like Facebook co-founder Eduardo Saverin unless they show they didn’t renounce their U.S. citizenship to avoid taxes.
Read more...The Real Facebook Tax Outrage Isn't Eduardo Saverin
Eduardo Saverin (Image credit: via @daylife) Eduardo Saverin, Mark Zuckerberg?s co-founder at Facebook, has sparked outrage by renouncing his U.S. citizenship as an apparent tax-avoidance strategy. Saverin, who lives in Singapore where there is no capital gains tax, stands to save about $67 million by giving up his U.S. citizenship. This is
Read more...Sen. Schumer proposes U.S. tax on people like Facebook's Saverin
Bloomberg News Thursday, May 17, 2012 WASHINGTON — Sen. Charles Schumer, D-N.Y., proposed legislation Thursday that would impose a 30 percent capital gains tax on people such as Facebook co-founder Eduardo Saverin unless they show they didn't renounce their U.S. citizenship to avoid taxes. News that Saverin, 30, had renounced his U.S. citizenship and will call Singapore his official home was ...
Read more...Schumer Proposes Bill to Penalize Tax Dodgers
May 17 (Bloomberg) -- U.S. Senator Charles Schumer, a New York Democrat, talks about legislation he's proposing that would impose a 30- percent capital gains tax on people like Facebook Inc. co-founder Eduardo Saverin, unless they show they didn’t renounce their U.S. citizenship to avoid taxes.
Read more...Think Tax-Efficient Investing Matters Now? Just Wait...
Imagine this scenario: the top tax rate on ordinary income, including interest income, rises 25%. The highest marginal rate on long-term capital gains spikes by 60%. The top dividend tax rate nearly triples.
Read more...FB co-founder: Hero or traitor?
The Facebook co-founder has moved to Singapore, a country with no capital-gains tax.
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