Let's hope he consulted with Conrad Black before he renounced his U.S. citizenship.
lol being a u.s. citizen is horrible esp if you have money. huge debts who do you think they are gonna tax? if you live abroad they make you pay federal income taxes, huge exit taxes if you want to renounce your citizenship. if you are non rich you have to pay $500 to renounce, it USED to be free. now they wanna give the irs power to seize your passport if you owe them money, there is another law being introduced where anyone who renounces U.S. citizenship and has a net worth of at least $2 million or an average income-tax liability of at least $148,000 over the previous five years would be presumed by the Internal Revenue Service to have done so to avoid paying taxes.
People who could not prove another reason for renouncing citizenship would face a 30% tax on future capital gains on U.S. investments — twice the current 15% rate — and be barred from receiving a visa to enter the country.
what saverin did is completely legal, and hes still on the hook for hundreds of millions of dollars. instead of hating on him, they should realize that the u.s. govt is chasing away entrepreneurs.