Share this story
Close X
Switch to Desktop Site

'Expatriotism': the last refuge of a scoundrel?

Two senators going after Facebook cofounder Eduardo Saverin for taxes seem to need a little help with their spelling.

About these ads

What do we make of two Democratic senators, Charles Schumer of New York and Robert Casey of Pennsylvania, and their plan to introduce the Ex-PATRIOT Act?

As you may have heard, they have denounced Brazilian-born Eduardo Saverin, one of the founders of Facebook, for giving up his US citizenship in connection with his move to Singapore. The senators seem to think they know why he has done this.

"This is a great American success story gone wrong," Senator Schumer said. "Mr. Saverin wants to de-friend the United States just to avoid paying taxes, and we're not going to let him get away with it."

As the Los Angeles Times and others have reported, Schumer estimated Mr. Saverin's tax savings from the move to be between $67 million and $100 million. To prevent others from following Saverin's lead, the senators plan to introduce something called the "Expatriation Prevention by Abolishing the Tax-Related Incentives for Offshore Tenancy Act," aka the Ex-PATRIOT Act.


Page:   1   |   2   |   3

Follow Stories Like This
Get the Monitor stories you care about delivered to your inbox.