Atlas Shrugging: Facebook Co-Founder Eduardo Saverin Renounces U.S. Citizenship

By the Left Coast Rebel 

Last week Facebook co-founder Eduardo Saverin announced that he was going to give up his US citizenship and become a citizen of Singapore. Saverin made the announcement just weeks before Facebook goes public, potentially saving the 30-year-old 5% Facebook stakeholder untold sums of IRS levies.

I see Saverin's move as one that perfectly fulfills Ayn Rand's prophecy of the productive class essentially going on strike against increasing taxes and regulations in her epic dystopian Atlas Shrugged novel.

Forbes' John Tamny sees Saverin's move as a positive that just may wake more Americans up to our corrupt system...

Saverin’s essential maneuver will at first glance hopefully get Americans thinking once again about our wrongheaded system of taxation. As it stands now, Americans, through taxes levied on income and capital gains, are explicitly forced to “prove” their income to the IRS.

Think about the above for a moment. A nation founded on skepticism about politicians and government now has as one of its most powerful institutions a revenue agency meant to badger its citizens about how much they owe a government utterly contemptuous of constitutional limits.  To this insatiable beast, Saverin is apparently saying no.  Good for him!

Saverin’s flight from the U.S. is yet another reminder of the superiority of a national consumption tax that in a perfect world would be implemented in concert with the abolition of the I.R.S. A limited federal government is a difficult concept to achieve so long as that same government can grant itself the legal right to tax a certain portion of our incomes.  When individuals resist governmental hubris, we should exalt their actions.

Ideally Saverin’s situation will remind Americans that the feds work for us, and to ensure that they seek to serve our needs rather than bludgeon us for revenue that they can dole out to favored constituents, we’ll implement a consumption tax through which we can limit what we hand over to them to spend. And if the tax is regressive or hits low incomes at the same percentage as high ones, all the better. Everyone should know intimately the cost of government.

Saverin’s departure is also a reminder to politicians that while they can obnoxiously decree what percentage of our income we’ll hand them in taxes, what they vote for won’t necessarily reflect reality. Indeed, as evidenced by Saverin’s renunciation, tax rates and collection of monies on those rates are two different things. Assuming nosebleed rates of taxation were a driver of Saverin’s decision, politicians will hopefully see that if too greedy about collecting the money of others, they’ll eventually collect nothing.
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28 comments:

  1. The U.S. is the only major nation to treat its citizens as slaves and tax their income even when they don't live or work there.

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    Replies
    1. Exactly. We are living in the dystopia Rand predicted.

      Delete
  2. http://blog.doodooecon.com/2012/05/scytl-voting-via-mobile-phone-ifraud.html
    Voting via mobile phone...
    How do you explain to a nation of thumb typers that this is a bad idea? Things are about to get much worse.

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  3. .

    Big deal. Don't let the door hit Eduardo Saverin in the a$$ as he leaves. No one will ever miss him.

    The idea that "productive class essentially going on strike against increasing taxes and regulations" is pure farcical fantasy. Always will be another person capable of producing the work/innovations. The idea that somehow people who inherit their wealth or even make it personally are so important that society cannot make it without them is 'belly-laugh' laughable.

    One receives benefits from being a member of society. An honest person is expected the pay her/his fair share of taxes as being a productive part of society. You are making a hero out of a person is taking away from you, your neighbors, your society, and your future.

    Really, can you name one person who is indispensable to the running of the world, country, state, or anything else?

    Ema Nymton
    ~@:o?
    .

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    1. *facepalm*

      Instead of responding to your comment I decided to link a graphic that sums it up.

      Delete
    2. Emma, define "fair share". And by whose standards is "fair share" determined? Is it the beggar or the burglar? Should it be the politicians or should it be the constituents? Was King George beloved by colonists because he determined " the fair share?"

      Now Emma, I realize it "just isn't fair" I ask these questions. But sooner or later everybody will need to ask then, Even you.

      I realize Emma it "feels fair" to dwell in the realm of anti concepts, but really, you miss a lot in doing so.

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    3. .

      RN -

      Oh the sophistry ... Aren't you the cute one; oh so condescending? Always wanting to get something for nothing; privatizing the profit while socializing the risks.

      "Should it be the politicians or should it be the constituents?" In USA we are the same. (It is clear you have a real problem understanding, so I will type this slowly so you can follow it.) USA, the people's government is of the people, by the people, and for the people. (Did you get lost on the point? Do I have to type slower for you?) The people decide 'fair share'. (Haven't lost you? Is it not too complex for you, is it?)

      Society has decided fair share is based on ability to pay. When one has more, one uses more and one is expected to pay more. Paying taxes are a privilege of being a part of USA.

      Remember there is no free lunch; freedom ain't free, (another Madison Avenue meaningless slogan for the RW), and liberty from rules/regulations.

      Ema Nymton
      ~@:o?
      .

      Delete
    4. You haven't come by my place in awhile. What am I, chopped liver now?

      Delete
  4. The first step is the abolition of the Federal Reserver. This Private, criminal organization, backed by powerful interests, is the root cause of our troubles. Then, while at it, the IRS should be abolished too since it's an unconstitutional government agency that would make even Hitler blush.

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    1. Hm, quite rational methinks. We are living in a time of benevolent economic slavery while Leviathan has a howitzer pointed squarely at our heads.

      Yeah, I know that was a take off on Ayn Rand, but I thought it appropriate in today's realities.

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    2. .

      Onig -

      "abolition of the Federal Reserve" and replace it with ?????

      "... IRS should be abolished too ..." and replace it with ???

      "... an unconstitutional government agency ..." Which Constitution are you referring to?

      USA Constitution (Article 1 Section 8) -
      "The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;"

      Even the founding fathers knew people must pay taxes and our government must have the tools to collect the taxes.

      Ema Nymton
      ~@:o?
      .

      Delete
    3. I thought libertarians would want to deregulate the Federal Reserve, remove the shackles on Ben Bernanke and let him act upon his judgment about the management of the money supply.

      Delete
  5. .

    LCR -

    "Instead of responding to your comment I decided to link a graphic that sums it up."

    Are you saying _you_ want USA to be under the Hammer and Sickle?

    Ema Nymton
    ~@:o?
    .

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  6. Yes Emma you are so cute, especially so because you haven't a clue.

    And one can not type slow enough for you to ever iunderstand..

    As too hammer and sickle Emma, well ,it is you who would be most comfortable living under it.

    When was it exactly that the income tax was instituted and became the lifeblood for what became the ever growing Leviathan.

    That should keep you busy for awhile Emma. That and honestly answering my original questions.

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  7. On this morning's Chris Plante radio show I heard a lady from the Soviet Socialist Republic of Maryland say she an her husband are actively looking at property in Costa Rica based on the O'Malley tax hikes they see coming. She said they have a combined income of about $150K - which is probably enough to afford date night twice a year in suburban Maryland.

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    1. Sad, but to quote Emma above (verbatim),

      "Always will be another person capable of producing the work/innovations. The idea that somehow people who inherit their wealth or even make it personally are so important that society cannot make it without them is 'belly-laugh' laughable.

      One receives benefits from being a member of society. An honest person is expected the pay her/his fair share of taxes as being a productive part of society.

      And even better:

      "You are making a hero out of a person is taking away from you, your neighbors, your society, and your future."

      So, LAS, you are making a hero out of people (your neighbors) who are taking away from you, your neighbors, your society and your future by moving to Costa Rica, because they are fleeing a government (federal and state) that is exceeding a 50% gun-barrel-forced "partnership"that they get nothing out of.

      Great dystopia you got there, Emma!

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    2. I don't blame them for considering Costa Rica, either. My wife and I have several contingency plans if and when the US goes belly-up; that is assuming of course, that progressive-Bolsheviks don't criminalize travel out of this country during that time.

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    3. Because that would never happen, right?

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    4. Agreed. Conservatives love the *idea* of America - which is a separate and distinct concept from mere location.

      Delete
  8. .

    LCR -

    "... they get nothing out of" ???

    Really? Nothing? How's the internet working in Maryland, telephone networks, the roads network, the police forces, clean water, world class quality schools, hospitals, libraries, military facilities, electrical grid, and fair equitable tax base and quality of life? Of course these are available to people and are all free, right? So it is alright for 'Mr & Mrs 150K' to take and not pay for it?

    So if 'Mr & Mrs 150K' don't pay for their services, who should?

    "Great dystopia you got there, Emma!" Again one has to ask, "Where in the world does LCR live?" Dystophia in USA? Quite dehumanizing world? I guess you and your USA tax (and services)hating ilk can move to Somalia for your freedom and liberty.

    Ema Nymton
    ~@:o?
    .

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    1. Hong Kong has it about right; you can have Africa.

      Delete
  9. .

    "Hong Kong has it about right ..."

    Slow down with _your_ typing. Think before you ring _this_ bell!

    Hong Kong!

    'Hong Kong' as in Communist Red China?!? You praise Communist Red China? You prefer Communism over USA? You really want to go there!!!? Really? One can surely see that your Obama Derangement Syndrome has completely taken you over. If any place in the world is dehumanizing it is your utopia Hong Kong.

    Ema Nymton
    ~@:o?
    .

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    1. Yes!!! I love me some communism!

      If you bother to read this list, you will see that Hong Kong is the number one freest economy in the world and the USA is 10 - thanks to progressives in both the Republican and Democrat parties.


      PS: This thread has nothing to do with Obama but I'd rather be guilty of "Obama derangement" than be in love with socialism. *ahem*

      Delete
    2. Emma: One last question - what do you consider yourself? A progressive? Liberal? Democratic socialist? How about being honest?

      Me, I'm a laissez faire constitutional capitalist. I'm not a Republican; I have been registered as independent and libertarian for the last 10 years. I think the Constitution should be interpreted in its most literal sense and that the government in America betrays our founding ideals.

      By your words I sense that you loathe that I want to be free and to be left alone and to retain the vast majority of my earnings; our differences are irreconcilable in a somewhat free society such as America.

      That's the last response I will give you the time for.

      Delete
    3. .

      Socialism (people working together for the benefit and the greater good of all) has really been great for USA and the people of USA ever since September 1787. Socialism has helped move USA from a third world land of no roads, no electricity, no indoor plumbing, no infrastructure, no internet and et al. Socialism was the power that enabled the people of USA to live peacefully among themselves and for USA to safely land people on the moon and bring them back! USA is the greatest place on earth BECAUSE of its socialist roots!

      Even your idol Rand recognized the value of society's safety net that socialism presents for all.

      Ema Nymton
      ~@:o?
      .

      Delete
    4. I beg to differ that Rand recognized the "safety net" of socialism but that's a different topic. Thank you for being honest. You are a socialist; I'm a capitalist; we'll leave it at that. I'd say we could learn from each other but am afraid that won't happen.

      Delete
    5. And in closing, a fitting Ayn Rand quote:

      "The free-enterpriser works for what he gets. The modern American collectivist grabs what he can get away with. And the dirtier he becomes in his methods, the guiltier he feels; so he despises all wealth in his heart and thinks longingly of Communism, to ease his own conscience. He ceases to believe that material prosperity is good or desirable. // So he begins to despise the United States, precisely because it’s prosperous, and to admire Soviet Russia, precisely because it’s a land of filth, disease, misery, starvation- and sacrifice. If sacrifice is redemption, he reasons, then surely a country that has been brought down to such an unspeakable state and bears it must be a virtuous country."

      - excerpted from the letters of Ayn Rand

      Delete
  10. And the following:

    "Collectivism means the subjugation of the individual to a group—whether to a race, class or state does not matter. Collectivism holds that man must be chained to collective action and collective thought for the sake of what is called “the common good.”

    “The Only Path to Tomorrow,” Reader’s Digest, Jan, 1944,

    "Collectivism holds that, in human affairs, the collective—society, the community, the nation, the proletariat, the race, etc.—is the unit of reality and the standard of value. On this view, the individual has reality only as part of the group, and value only insofar as he serves it."

    Leonard Peikoff, The Ominous Parallels, 17

    "Collectivism holds that the individual has no rights, that his life and work belong to the group . . . and that the group may sacrifice him at its own whim to its own interests. The only way to implement a doctrine of that kind is by means of brute force—and statism has always been the political corollary of collectivism."

    “Racism,” The Virtue of Selfishness, 128

    Excerpts from The Ayn Rand Lexicon - Collectivism

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