“C. Ellis” Blathers On For Confiscatory Taxes!
Eduardo Saverin dun’ pissed off C. Ellis Schumer, The Putz of Park Avenue!! Mr Saverin—who expects to receive $3++Billion from the Facebook IPO–has renounced his U.S. citizenship to live and work in Singapore–where he’s been since 2009–but ‘The Putz‘ ain’t buyin’ it!! ‘Putzie‘ is saying that the renounciation is for tax avoidance, even though Mr Saverin has stated he’s going to pay all applicable taxes on his U.S. earnings and investments.
‘The Putz‘ is proposing that a more confiscatory tax rate apply to those who renounce their citizenship, with the IRS as the sole determinant of who’s guilty; who’s not. This future ‘putz-ism‘ will levy a 30% capital gains tax on expatriates’ U.S. earnings and capital gains. Said ‘putz-ism‘ requires:
….the IRS to determine whether individuals with a net worth of at least $2Million, or who have an income tax-liability of at least $148,000, renounced their citizenship for tax avoidance purposes.
….if the IRS determines that tax avoidance was a main reason for renouncing citizenship, that person “will be barred from any type of re-entry into the United States” as summarized and provided by said ‘Putz of Park Avenue.’
If I read C. Ellis Schumer, The Putz of Park Avenue, correctly….
In essence he’s saying that our labor-value; our earning power is actually owned by the communists in the owe-bama government.
We’re only allowed to exercise them in return for satisfying the increasingly confiscatory taxes impressed upon us.
I’m sure The Putz of Park Avenue modeled this concept after the property tax legislation that’s active in every villiage, town, county, school district, fire district, water district, sewer district in every state in the union. This concept actually is more akin to NEVER OWNING–regardless of a mortgage, or lack thereof–but renting your property for the taxes due to the aforementioned political sub-divisions. Try not paying your taxes and said ‘owner’ will kick your ass to the curb, legally and WITHOUT RECOURSE!!
[This is where I wonder why those owe-bamacRATics of metropolitan New York City and environs, continue to re-elect The Putz of Park Avenue!!]