Eduardo Saverin and the Modern "Underground Railroad"
May 29, 2012 at 4:53 PM
As a general rule of thumb, most individuals accept the idea that stealing is wrong. At the same time, most individuals accept that it is beneficial to try and protect your property from thieves - e.g. putting it in safes, setting alarm systems, personal defense, etc.
So how is Eduardo Saverin's attempt to avoid taxes any different?
It isn't, quite honestly. Theft is "the forced confiscation, expropriation, and reallocation of the values produced by one man to another man, one who had not produced them," regardless of the theif's status as a public or private entity and regardless of any legal sanction he may have to commit his theft.
Taxation, therefore, is just a broad, legalized form of theft where government entities expropriate the property of private citizens and businesses and then spend it elsewhere. Acting in his own self-defense (though careful not to admit that's what he has done), the billionaire co-founder of Facebook Eduardo Saverin renounced his citizenship last September and has decided to officially reside in Singapore (not perfect by any standard, but better certainly from a tax standpoint).
But he's not out of the woods yet - Senators like Chuck Schumer and Bob Casey who feel that the American people were slated from their "rightful share" of Saverin's wealth intend to regain as much of that wealth as possible, but not without strong opposition from a wide variety of American citizens.
Sen. Schumer, on the other hand, literally cannot comprehend the support Saverin and other rich expatriates are getting in response to this issue: “Can you believe it? An American hero? Renouncing your citizenship now qualifies as heroic for the hard right wing?” Yes, Sen. Schumer. Yes it does. In the words of Benjamin Franklin, a revolutionary and expatriate in his own right, “Where Liberty is, there is my country.”
See the rest of the essay here.