An Example Of Why Increasing Capital Gains Taxes Is Vapid

 

Facebook co-founder renounces citizenship ahead of IPO

He lived the American Dream — and then he packed up and left.

Facebook co-founder Eduardo Saverin, who made billions off the world’s most popular social network, stands to rake in about $3.84 billion from his 4 percent share of Facebook, Bloomberg reported.

So, now, instead of getting a small percentage of his money, the U.S. will get 100% of zero.  I think if we can increase the capital gains tax to 40%, we will be able to manage more 100%s of zero.

The problem with socialism is that eventually you run out of other people’s money.”—–Maggie Thatcher

Well, we won’t run out of Saverin’s.  He’s taking it elsewhere.  Well done tax crusaders. 

Read more: here.

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8 Responses to An Example Of Why Increasing Capital Gains Taxes Is Vapid

  1. miked1947 says:

    Tax the end product. A consumption tax is the only fair tax. All the other taxes are just added in to the cost of the end product and also add because of the cost for needed accounting. A consumption tax would reduce the number of accountants by over 75%, it would reduce the IRS work load by close to 90% and they would make more money on taxes.

  2. Latitude says:

    The rich can afford to be moving targets….and you can’t hit a moving target

  3. miked1947 says:

    I am resolved to not feed the troll that just posted on the other thread.

  4. Latitude says:

    Renouncing citizenship is an option chosen by increasing numbers of Americans. A record 1,780 gave up their U.S. passports last year compared with 235 in 2008, according to government records.

  5. DaveG says:

    Britain had the brain drain in the 1960 not because of mad cow disease but socialist Labour government disease, tax the rich and up and coming small business people, the best and brightest people emigrated in a mass Exodus to Canada ,Australia, New Zealand and the US .
    George Harrison was spot on in his Beatles song, when he found out his tax rate was 95% in the 1960’s.

    Let me tell you how it will be – should 5% appear to small be thankful I don’t take it all, cause I’m the tax man. George Harrison.

    Here is a prime example:

    California facing higher $16 billion shortfall.
    The Democratic governor said the shortfall grew from $9.2 billion in January in part because tax collections have not come in as high as expected and the economy isn’t growing as fast as hoped for. Doh.
    http://townhall.com/news/us/2012/05/12/california_facing_higher_16_billion_shortfall

    Bloody socialist governments NEVER LEARN!

    • miked1947 says:

      Any money earners are leaving California if they have not already left. As much as I like the scenery there, I have no plans to enrich the government coffers by visiting the state any time in the future.

    • suyts says:

      No, they don’t learn. Or maybe they do. Their short-sighted view allows many of them to live their entire lives off of the industry of other people. They could care less about the implications of the future generations.

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