The Dink Network

"The co-founder of
Facebook, Eduardo
Saverin, has decided to
renounce his U.S.
citizenship, a move that
could potentially save
Saverin millions of dollars
should the stock value of
Facebook increase when it
goes public today. Two
senators are trying to
create legislation that
would bar Saverin from
every returning to the
United States and that
could tax him hard. The
two senators, Chuck
Schumer, from New York
and Bob Casey, from
Pennsylvania, have
introduced the Ex-PATRIOT
Act. The act stands for
Expatriation Prevention by
Abolishing Tax-Related
Incentives for Offshore
Tenancy. The legislation, if
passed, would require
those who “expatriates for
a substantial tax purpose
— as judged by the
Internal Revenue Service”
to face a 30 percent
mandatory tax on any
future capital gains.
Anyone who is a former
citizen would also be
barred from the country."
Do you think what he did was right? And what the senators did?
What he did was legal so, I don't think much of it.