Tuesday, May 15, 2012

Young bloodsucker

This ungrateful parasite pisses me off. Eduardo Saverin, the co-founder of Facebook, renounced his US citizenship last week. He's moving to Singapore.
Saverin, who owns a roughly four percent stake of Facebook, announced that he was expatriating last week, just in time to avoid paying a federal capital gains tax on the fortune heading his way when the social site files its IPO.
Forbes Magazine, calls him an American hero for skipping out on contributing his fair share to our public commons. Then they throw up the old John Galt threat:
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.
Greedy? Forbes has the gall to call the government greedy for expecting this kid to contribute a relative pittance towards upkeep of the infrastructure which allowed him to make his obscene fortune? It's no stretch to say Saverin would be nothing without US government support that allowed Facebook to flourish and further allowed Saverin to cash in when his partners tried to cut him out. Indeed, it's possible he wouldn't be alive if not for his move to the US in the first place.

This little leech was lucky. He hit it big and now skips out on the tab he rightfully owes in return. He's no hero. He's the poster boy for the unbridled greed that, even now, is shredding the social fabric of America. [graphic via]

[More posts daily at the Detroit News.]

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Blogger merlallen said...

i wish they'd all go galt and get it over with.

10:56:00 PM  
Blogger Libby Spencer said...

Really. I'm so tired of their idle threats and whining.

11:12:00 AM  

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