“Ex-PATRIOT Act” Would Penalize Tax Schemers Like Facebook’s Saverin
Senators Charles Schumer and Bob Casey are behind the “Ex-PATRIOT Act,” in response to Facebook’s co-founder Eduardo Saverin’s efforts to avoid paying U.S. taxes.
The senators will call Saverin’s move an “outrage” and will outline their plan to re-impose taxes on expatriates like Saverin even after they flee the United States and take up residence in a foreign country. Their proposal would also impose a mandatory 30 percent tax on the capital gains of anybody who renounces their U.S. citizenship.
The plan would bar individuals like Saverin from ever reentering the United States again.Click here for reuse options!
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