Taking Back America!
Far be it from me to defend anyone associated with Facebook (or a Yahoo story for that matter), especially one of the founders but he makes a very valid point that America and Americans are being drown in a sea of regulations and laws restricting our activities and our freedoms on a daily basis.
No longer is America the "Land of the FREE". Our country is being changed right before our very own eyes at an alarming rate. Do here we have a young businessman who came to this country seeking the American Dream and now he is leaving and renouncing his citizenship because there are too many rules and regulations holding him down.
Many entrepreneurs state these days that they would not have been able to create their business with the regulations and laws that currently exist. And it is getting much worse at an alarming rate. Our very own government is killing America as we know it!
Here is the story: From Yahoo: Eduardo Saverin Leaves The USA
Eduardo Saverin, the Facebook co-founder who gave up his U.S. citizenship, has nothing against the U.S., just its complicated rules on U.S. citizens holding money overseas, a spokesman said.
Mr. Saverin, who now lives in Singapore, decided last year to renounce his U.S. citizenship, a decision that was made public a few days ago. The move sparked an outcry among some tax experts who suspect he’s aiming to save on taxes. Although Mr. Saverin will have to pay a hefty exit tax for renouncing his citizenship, based on some calculation of his assets, Singapore is a relatively low-tax jurisdiction, particularly for foreign investors, and does not levy capital gains tax. Thus he could save in the longer term.
Saverin spokesman Tom Goodman said Sunday his renunciation was prompted not by tax considerations but by U.S. rules that make it more difficult for U.S. citizens to live and invest overseas.
“U.S. citizens are severely restricted as to what they can invest in and where they can maintain accounts,” said spokesman Tom Goodman. “Many foreign funds and banks won’t accept Americans. This was a financial rather than a tax motive.”
If we don't take action now to stop our crazy runaway government America will cease to exist in a relatively short period of time.