Facebook Co-Founder Eduardo Saverin Renounces US Citizenship to Save on Taxes


david jackson and she asked had david
packard dot com please support me david package over the coming from members of
the david patten dot com slash membership today inside of it just takes i got a lot of the emails about the
board of severance who is a face book co-founder of who is going to be or or
did give up his u_s_ citizenship in advance of the face book by p_l_o_
which could be worth as much as ninety six billion dollars and this is a move that definitely could
reduce his tax bill so i got here’s one you
know i got this is from michael and he says i’d our
topic for discussion i would like you weigh in on he says i’d artists ever and
came here when he was young uh… similarly to to uh… me when his parents moved here from brazil
and that his parents learned they were targets for kidnapping he’s been able to
uh… operas parent a lot of protection for being here rather than being in
brazil and that’s it he says listen michael says uh… find that you can do something but that doesn’t mean you should agree
that it’s a bright unless of course here in the one-percent or the point below
one percent were apparently it’s okay to renounce
their citizenship to avoid having to pay taxes now he wants actually escape all
taxes because americans to uh… give up their citizenship duo what’s called an
exit tax on their capital gains from stock quotes stock holdings even if they
don’t sell those chairs that being said what’s your reaction to the slowest it sounds like sounds like something a lot of people would do if they were in a similar position yet is it do you use as a gold digging into
right should there be any additional penalty and and really does exit tax is
not a penalty assessed what you have to pay should there be anything let me
against them in terms of any still live in the u_s_ and that’s
actually a legal question if you are now just citizenship visit to fall back to
having a permanent resident status where you can still live in the country and
definitely or do you have to reapply for a work visa do you have what what do you
do on that actually show what happens uh… okay what if the fiery five ruled
the world i mean i think the only thing in good conscience i would do we say while you are not eligible to ever uh… half american citizenship
again and that’s a fact pretty much bt ended it what is that it back in town you can never become a citizen again
unless there are some specific conditions which
he doesn’t have i remember i just i just checked online
and the i_n_s_ website okay i mean it’s he’s not gonna get back okay so you don’t care what it homeland
security says okay go ahead and do that but where their flag your record with no
entry allowed and from now on you’re not allowed in the u_s_ it does
not allow number why i think that’s pretty bogus uh… i think it’s pretty bogus this
thing though this guy out what he’s doing is essentially pretty
transparent he’s saying well he’s not admitting it but what he’s doing is giving up his citizenship in order to not pay taxes what’s worse
doing that which is pretty obvious with the intent is or what most extremely wealthy people in the u_s_ do
which is remain u_s_ citizens but use tax loopholes to funnel money
away to the cayman islands and to switzerland and all over the world any
like that right like mit romney how is this any worse it’s almost better
because you at least know exactly what he did and from now on he’s not going to
be in the u_s_ systems at least you know what he’s doing what about that point
louis again let’s get back to this issue of just become what michael says just
because it’s all out it doesn’t mean that it is africa ll that’s not really
his problem right i mean the problem is that what is the law and who wouldn’t do this if it’s going
to help them save money and they have some other place that they feel some
kind of allegiance to job either i don’t i don’t know they can
really fault in specifically though the law allows for this and
that’s what he’s doing he’s not doing anything illegal plain and simple and that personally
does this offend me that he’s doing this now you don’t get hike could not
possibly carrying u_s_ at like i said i’d expected from a lot of people in the
situation alright a particular

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