the humble libertarian

out of many one

I Moved To:
Poor Richard's
Libertarian Report

See You There!

Thursday, May 17, 2012

What America Owes Eduardo Saverin

The government is determined to criminalize success. You can make money but whatever money you make belongs to the government. Congress is hysterical that a Facebook co-founder is renouncing his citizenship, probably the result of astute tax planning. In fact, Congress is so hysterical that it's introduce a bill that punishes success.
Eduardo Saverin’s decision to renounce his U.S. citizenship, presumably to avoid a few billion dollars in taxes, has Internet moralizers gnashing their teeth.... ...
it’s not like Saverin did nothing to earn his billions. They didn’t fall out of the sky onto his head, at which point he gathered them up, stuffed them in his pockets, and said, “Screw all of you.”
No, Saverin got rich by creating immeasurable value for Americans (and billions others around the globe). He co-founded an enormously successful company, one that in turn lead to the creation of many other enormously successful companies. All of those business employ thousands of Americans, who not only are more prosperous than they probably would’ve been without Facebook, but also pay taxes on all their earnings. So even without its cut of Saverin’s IPO windfall, Uncle Sam comes out ahead, as do all those American workers.
Read the rest here 

Judy Morris,
Blogger, THL
Articles | Website